Redefining solvency

Sam Bankman-Fried is seeking to overturn his conviction on all seven felony charges and his 25-year sentence, arguing that FTX was never insolvent and that Judge Kaplan wrongly barred him from discussing his lawyers' involvement. The three-judge appeals panel has not ruled, but its questions suggested skepticism, with judges noting that a crime is not absolved because victims are ultimately made whole. Elsewhere, the Tenth Circuit affirmed a 2–1 ruling rejecting Custodia Bank's bid for a Federal Reserve master account, and the Independent Community Bankers of America urged regulators to reject Coinbase's national trust bank charter application.