Sam Bankman-Fried (SBF), founder of FTX exchange, has filed a plea with the US Supreme Court earlier today, September 11, 2026. This filing is his last legal attempt to overturn his fraud conviction and an $11 billion asset confiscation order.
His Supreme Court petition focuses on evidence submitted during his trial. The founder argued that he should have been allowed to show that FTX’s investments could potentially cover the losses suffered by customers. It was also to understand whether the confiscation violates the Eighth Amendment’s protection against extra fines. The plea comes after a Second Circuit panel in unison upheld his conviction.
As of now, Sam is serving a 25-year sentence subsequent to the fall of FTX, which was one of the most popular crypto exchanges back in 2021.Â
Sam Bankman-Fried’s Appeal to the Supreme Court
Bankman-Fried’s plea focuses on three key arguments. First, his legal team has raised technicalities involving the submission of evidence during his trial. Second, he states that he should get a chance to show that his expenditures were ultimately profitable to make up for customer losses. Third, he is challenging the $11 billion confiscation order, arguing that it breaches the Eighth Amendment because it amounts to an excessive fine.
The way ahead remains strenuous. A three-judge panel of the Second Circuit in unison upheld Bankman’s conviction in June. It also described the federal authorities’ evidence as robust. The Supreme Court also takes a small segment of the plea broad before it, meaning Bankman first needs the justices to agree to hear his case.
His plea followed the unusual collapse of FTX in 2022. Bankman was arrested shortly after the exchange fell and was later convicted in 2023 on seven counts. This included wire fraud, conspiracy to commit money laundering and after trial he was sentenced to 25 years in prison in the year 2024.
The former cryptocurrency billionaire persistently maintained that he was innocent. Previously, in an interview, he said he did not rob customer funds and pointed to the recovery of customer assets following the bankruptcy. He stated that customers have been repaid more than they originally had.
However, the FTX bankruptcy estate has reported customer recoveries of approximately 118% and higher for some classes of claims. Those calculations were based on November 2022 cryptocurrency prices. This is the time when the market was close to its low, rather than a subsequent surge in crypto prices.
Bankman-Fried’s Supreme Court filing put his arguments over the conviction and forfeiture order back before the judicial system. Although it remains ambiguous whether the justices will agree to hear his plea.
FTX Founder’s Pardon Connection
Sam’s newest legal move also comes against the backdrop of his prior closed suit of a presidential pardon. He said he would welcome a pardon from President Donald Trump, but insisted that he had not personally lobbied the White House.
A pardon application was allegedly filed on Bankman-Fried’s behalf, although the application sought forbearance only after he completed his prison sentence. The White House directly questions about a pardon backed with Trump’s prior comments that he was not in favor of clemency for Bankman-Fried.
The FTX collapse has divided people in two distinct groups. Adam Moskowitz, a lawyer representing FTX victims, said he would not oppose a pardon and noted that Bankman-fried had been among the defendants who offered to help victims.
Senator Bernie Moreno conflicted with the idea and said Sam should remain in prison for a long term. Sam also described life in prison as largely consisting of exercising, sleeping, reading and other daily activities. His legal battle now returns to the Supreme Court , where he aims to question both the conviction and confiscation order.
The FTX fall also involves the other former executives. Caroline Ellison, the former head of Alameda Research and a crucial government witness against Bankman-Fried, pleaded guilty to the fraud and received a two-year sentence. Gary Wang and Nishad Singh, other former FTX executives who coordinated with prosecutors, also pleaded guilty. Caroline Ellison served 14 months before her January 2026 release, while Gary Wang and Nishad Singh avoided prison entirely by cooperating.
The Supreme Court plea represents another attempt to challenge the legal consequences of the collapse. After going from a reported $26 billion fortune to a 25-year prison sentence, his plea would determine whether the Supreme Court will give him another chance.