PANews reported on November 5th that, according to Reuters, the U.S. Second Circuit Court of Appeals challenged SBF's appeal on Tuesday. His lawyers argued that the previous trial in the FTX fraud case was unfair, leading to SBF's 25-year prison sentence, and that this should be overturned. During the appeal hearing, the three-judge panel questioned a key issue: would evidence excluded in the previous trial have affected the jury's guilty verdict? Circuit Judge Maria Araujo Kahn questioned SBF's lawyers, asking whether not questioning the sufficiency of the evidence equated to admitting it was sufficient for a conviction. The lawyers responded that even with sufficient evidence, procedural errors by the trial judges still affected impartiality. Prosecutor Nathan Rehn pointed out that the existing evidence was sufficient to prove SBF stole client funds. SBF argued that the previous trial failed to allow evidence proving FTX's solvency at the time, leading to a biased verdict. The prosecution emphasized that the chain of evidence, including the testimonies of three witnesses and a large number of internal documents, was complete and sufficient for a conviction. SBF is currently serving his sentence in a low-security prison in Los Angeles and is expected to be released in October 2044.PANews reported on November 5th that, according to Reuters, the U.S. Second Circuit Court of Appeals challenged SBF's appeal on Tuesday. His lawyers argued that the previous trial in the FTX fraud case was unfair, leading to SBF's 25-year prison sentence, and that this should be overturned. During the appeal hearing, the three-judge panel questioned a key issue: would evidence excluded in the previous trial have affected the jury's guilty verdict? Circuit Judge Maria Araujo Kahn questioned SBF's lawyers, asking whether not questioning the sufficiency of the evidence equated to admitting it was sufficient for a conviction. The lawyers responded that even with sufficient evidence, procedural errors by the trial judges still affected impartiality. Prosecutor Nathan Rehn pointed out that the existing evidence was sufficient to prove SBF stole client funds. SBF argued that the previous trial failed to allow evidence proving FTX's solvency at the time, leading to a biased verdict. The prosecution emphasized that the chain of evidence, including the testimonies of three witnesses and a large number of internal documents, was complete and sufficient for a conviction. SBF is currently serving his sentence in a low-security prison in Los Angeles and is expected to be released in October 2044.

The U.S. Court of Appeals was skeptical of SBF's request to overturn the cryptocurrency fraud charges.

2025/11/05 18:08

PANews reported on November 5th that, according to Reuters, the U.S. Second Circuit Court of Appeals challenged SBF's appeal on Tuesday. His lawyers argued that the previous trial in the FTX fraud case was unfair, leading to SBF's 25-year prison sentence, and that this should be overturned. During the appeal hearing, the three-judge panel questioned a key issue: would evidence excluded in the previous trial have affected the jury's guilty verdict? Circuit Judge Maria Araujo Kahn questioned SBF's lawyers, asking whether not questioning the sufficiency of the evidence equated to admitting it was sufficient for a conviction. The lawyers responded that even with sufficient evidence, procedural errors by the trial judges still affected impartiality. Prosecutor Nathan Rehn pointed out that the existing evidence was sufficient to prove SBF stole client funds. SBF argued that the previous trial failed to allow evidence proving FTX's solvency at the time, leading to a biased verdict. The prosecution emphasized that the chain of evidence, including the testimonies of three witnesses and a large number of internal documents, was complete and sufficient for a conviction. SBF is currently serving his sentence in a low-security prison in Los Angeles and is expected to be released in October 2044.

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Analysis: Bitcoin hits the key $100,000 mark; macroeconomic environment remains uncertain but constructive.

Analysis: Bitcoin hits the key $100,000 mark; macroeconomic environment remains uncertain but constructive.

PANews reported on November 5th that Singapore-based crypto investment firm QCP Capital analyzed that Bitcoin's overnight drop below the key support level of $100,000 triggered a decline in global risk assets. This round of decline was mainly driven by a stronger US dollar and uncertainty surrounding Federal Reserve policy, which generally dampened market risk appetite. Macroeconomic pressures quickly transmitted to the crypto market, with the US spot Bitcoin ETF experiencing net outflows of approximately $1.3 billion for four consecutive days, turning it from a significant driver at the beginning of the year into a short-term resistance level. The market saw a coexistence of weak spot demand and forced deleveraging, with over $1 billion in long positions being liquidated during the price bottoming process, followed by bargain hunting. The options market structure also exacerbated volatility, with traders maintaining net short gamma positions near the $100,000 strike price, their hedging behavior amplifying price fluctuations. The $100,000 mark has become a key psychological barrier. If ETF inflows stabilize, market sentiment is expected to recover quickly. On the macro level, the October non-farm payroll data was delayed due to the US government shutdown, and the market is relying on private sector indicators to judge the economic trend. Pre-shutdown data showed economic resilience: Q2 GDP was revised upward to 3.8%, job growth slowed but productivity improved, and the Q3 GDPNow forecast remained at a high of 4.0%. High-frequency indicators show that the economy is still expanding moderately. The policy outlook is unclear. The Fed cut rates by 25 basis points in October but released cautious signals, weakening expectations for another rate cut in December. Currently, the market expects 60-65% for further rate cuts. If the quiet period extends, the possibility of pausing rate cuts will increase, further supporting the dollar and tightening credit. For Bitcoin to resume its upward trend, it needs to wait for a reversal in ETF outflows and a recovery in risk sentiment.
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PANews2025/11/05 18:56