SBF’s appeal has been rejected, narrowing his legal path while a pardon effort continues with low implied odds on prediction markets. For crypto markets, the key impact is less about daily price action and more about trust, regulation, and how legacy failures still shape institutional risk assessment.
This remains a reputational case study for the sector. The FTX collapse continues to influence how funds evaluate custody, governance, proof of reserves, and counterparty exposure. Any renewed attention around SBF may create short-term narrative volatility, but the broader market impact is structural rather than purely speculative.
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