Sam Bankman-Fried (SBF) has filed an appeal

Sam Bankman-Fried (SBF) has filed an appeal against his 25-year prison sentence and fraud charges.

The founder of FTX was sentenced two weeks ago for stealing $8 billion from FTX customers. SBF was convicted in November on seven counts of fraud and conspiracy.

US District Judge Lewis Kaplan, delivering the verdict, stated that SBF showed no remorse: "He knew it was wrong. He knew it was criminal. He regrets that he made very poor decisions regarding the likelihood of getting caught. But he is not going to admit to anything, as is his right."

SBF paid $605 to file the appeal, which aims to convince the second instance court and potentially the US Supreme Court that Kaplan made errors in his judgment. The appeals process could take years.

The appeal was filed a few days after SBF filed a request to remain in custody in New York instead of California, to be closer to his lawyers.

The reaction to SBF's appeal on social media was skeptical. "Statistically, only 10% of appeals are successful," one person stated. "I hope he gets more time on appeal," joked one user, with another agreeing, adding, "It would be great if he got more prison time for this."

Others believe the appeal will be successful. "He'll get it done," one user stated. "He'll be out soon, mark my words," said another.

During the sentencing, SBF's defense team tried to argue for a reduced sentence of 5-1/4 years in prison, arguing that victims of FTX's collapse would receive refunds.