According to CoinMeta, the 25-year prison sentence imposed on Sam Bankman-Fried, the founder of FTX, has been officially upheld by a federal appeals court. On August 4th, the U.S. Second Circuit Court of Appeals issued an order confirming Bankman-Fried's conviction for fraud, a 25-year prison sentence, and a confiscation order for $11 billion. In November 2023, a jury found Bankman-Fried guilty of seven charges of fraud and conspiracy, and in March 2024, Judge Louis Kaplan sentenced him to 25 years in prison and issued a confiscation order for approximately $11 billion. Three judges unanimously rejected Bankman-Fried's requests to overturn the conviction and sentence, stating that there were no reversible errors in the evidence rulings of the trial court and the jury instructions. The court noted that the transfer of customer funds to Alameda without authorization constituted wire fraud, despite Bankman-Fried's belief that the funds might be repaid. This decision separates Bankman-Fried's criminal liability from any compensation that creditors may obtain through the FTX bankruptcy process. A fifth distribution to creditors is scheduled for July 31st, with nearly $900 million expected to reach creditors who have filed approved claims.