Sam Bankman-Fried files to appeal conviction and sentence

Sam Bankman-Fried, the co-founder of the FTX crypto exchange, has filed to appeal his 25-year prison sentence. Bankman-Fried was found guilty and sentenced on seven counts of fraud on March 28.

Market Domination co-hosts Julie Hyman and Josh Lipton comment on the news.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.

Video transcript

[AUDIO LOGO]

JULIE HYMAN: Well, Sam Bankmam-Fried is looking to appeal his 25-year prison sentence and conviction for fraud. The FTX founder filing the notice of appeal just about two weeks after the sentencing came down. But as of right now, it's unclear on what grounds he intends to appeal. Judge Lewis Kaplan did impose a shorter sentence than prosecutors asked for, but it wasn't as small as what the SBF's team obviously was asking for. So this was expected, but still it'll be interesting to see what exactly the argument they make is.

JOSH LIPTON: Yeah. His argument has always been, well, I made mistakes, but I didn't purposely deliberately defraud. That obviously did not convince judge and jury, but we'll see what he argues this time.

JULIE HYMAN: Yeah, we will. And we'll see if he is successful. But I believe he requested to stay in a particular prison in Brooklyn pending all of this making its way, continuing to make its way through the courts.

JOSH LIPTON: Yeah. In terms of timeline, at least the reports that I'm reading, Julie, said it could be many months before, obviously, we hear this.

JULIE HYMAN: Yeah. So we'll keep you posted.