SBF refuses to accept it—straight to the U.S. Supreme Court to try to overturn a $11 billion fine 🏛️
He’s already behind bars, but SBF clearly isn’t ready to accept his fate.
This week, he filed documents asking the U.S. Supreme Court to re-hear the case.
There are two goals: first, to overturn his 2023 fraud convictions; second, to remove the $11 billion forfeiture order.
💬 进群聊行情
The lawyer’s arguments are pretty tough—mainly two points.
First, at the original trial, the judge didn’t allow the jury to see evidence that could prove his investment activities themselves were legitimate.
The idea is that the money originally had the opportunity to be used to plug the hole created by the customers.
Second, this $11 billion penalty violates the Eighth Amendment of the U.S. Constitution—the ban on excessive fines.
And one more thing: while fighting the case, he also submitted a request for a pardon to Trump.
Here’s the translation detail: this $11 billion forfeiture order is meant to seize assets that were determined to have been built from customer funds and return them to the government.
In theory, they can then be used to compensate the customers.
So it’s both punishment and restitution.
The U.S. Supreme Court receives tens of thousands of requests to review cases each year, but only a few dozen are actually taken up.
To overturn it? The difficulty doesn’t need to be spelled out.
Also, the Eighth Amendment argument has rarely been adopted historically—it’s more like a last-ditch procedural shot.
Quick background: In March 2024, he was sentenced to 25 years for seven counts of fraud and conspiracy.
On June 12 this year, the Second Circuit Court of Appeals—three judges unanimously—upheld the original ruling.
In other words, the standard appeal path is basically finished. Now it’s only possible to go up further.
In plain terms: the Supreme Court takes cases that are already an extremely small subset—an even smaller subset within that.
The odds of overturning this kind of case are so low they’re basically negligible.
More often than not, this is about running through the very last procedures.
But for the industry, it’s a warning: the messy debt left behind from the last round is still being settled line by line 🧾
Every day, I’ll bring you the regulatory headlines—not just what happened, but the logic and the opportunities behind it 👀🚀
#特朗普 #sbf
He’s already behind bars, but SBF clearly isn’t ready to accept his fate.
This week, he filed documents asking the U.S. Supreme Court to re-hear the case.
There are two goals: first, to overturn his 2023 fraud convictions; second, to remove the $11 billion forfeiture order.
💬 进群聊行情
The lawyer’s arguments are pretty tough—mainly two points.
First, at the original trial, the judge didn’t allow the jury to see evidence that could prove his investment activities themselves were legitimate.
The idea is that the money originally had the opportunity to be used to plug the hole created by the customers.
Second, this $11 billion penalty violates the Eighth Amendment of the U.S. Constitution—the ban on excessive fines.
And one more thing: while fighting the case, he also submitted a request for a pardon to Trump.
Here’s the translation detail: this $11 billion forfeiture order is meant to seize assets that were determined to have been built from customer funds and return them to the government.
In theory, they can then be used to compensate the customers.
So it’s both punishment and restitution.
The U.S. Supreme Court receives tens of thousands of requests to review cases each year, but only a few dozen are actually taken up.
To overturn it? The difficulty doesn’t need to be spelled out.
Also, the Eighth Amendment argument has rarely been adopted historically—it’s more like a last-ditch procedural shot.
Quick background: In March 2024, he was sentenced to 25 years for seven counts of fraud and conspiracy.
On June 12 this year, the Second Circuit Court of Appeals—three judges unanimously—upheld the original ruling.
In other words, the standard appeal path is basically finished. Now it’s only possible to go up further.
In plain terms: the Supreme Court takes cases that are already an extremely small subset—an even smaller subset within that.
The odds of overturning this kind of case are so low they’re basically negligible.
More often than not, this is about running through the very last procedures.
But for the industry, it’s a warning: the messy debt left behind from the last round is still being settled line by line 🧾
Every day, I’ll bring you the regulatory headlines—not just what happened, but the logic and the opportunities behind it 👀🚀
#特朗普 #sbf
