According to a report by cryptobriefing.com, Techub News reported on June 12, 2026, that a U.S. federal appeals court rejected the appeal of FTX founder Sam Bankman-Fried (SBF), upholding his 25-year prison sentence. The report states that he plans to issue a new token after his release, but no concrete plan has been verified yet. SBF was convicted of fraud in March 2024, involving the forfeiture of $11 billion. He recently filed for a presidential pardon and maintains his not-guilty plea. Following this news, the FTX token FTT rose by approximately 30% in June 2026. Several related meme tokens have emerged in the community, but none have received official endorsement from FTX.
A federal court rejected SBF's appeal, reportedly after his plan to issue tokens upon his release from prison.
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