Sam Bankman-Fried Drops Retrial Bid, Citing Fairness Concerns

Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has formally withdrawn his request for a retrial, expressing doubts about receiving a fair hearing. Currently serving a 25-year prison sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might reinstate the motion after the outcome of his direct appeal and a related request for the case to be reassigned. The initial motion for a new trial was submitted by his mother, Barbara Fried, citing newly discovered evidence that could warrant a retrial. Bankman-Fried drafted the motion himself while in detention, with minimal assistance, and later consulted with his lawyers and family members, who provided editorial suggestions. He shared earlier drafts with a New York attorney but noted that this individual had no substantial input into the final motion. Bankman-Fried's appeal is pending before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during November's oral arguments that the trial was fundamentally unfair due to restrictions on the evidence Bankman-Fried could present to the jury.