[FTX Founder SBF's Appeal Rejected, Awaiting Pardon Application Outcome] FTX founder SBF was sentenced to 25 years in prison on multiple fraud charges, and his criminal conviction appeal has been rejected by the U.S. Court of Appeals for the Second Circuit. The case's outcome now depends on the result of his pardon application, as the Senate voted in July against granting him clemency. SBF faces an asset forfeiture order exceeding $11 billion and will not be eligible to apply for early release until 2044 at the earliest. (Source: CoinDesk)