New York Appeals Court Turns Down SBF's Bid to Overturn Conviction

A U.S. appeals court upholding Sam Bankman-Fried's fraud and conspiracy convictions reinforces the legal finality of the FTX collapse and underscores ongoing judicial scrutiny of crypto-market misconduct. While the ruling is largely backward-looking and not directly tied to new regulation, it can marginally shape risk perception around exchange governance and counterparty diligence, with limited immediate impact on broader crypto pricing.