Sam Bankman-Fried Drops Request for New Trial, Citing Concerns Over Fairness

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has officially withdrawn his motion for a retrial, expressing doubts about receiving a fair trial. Currently serving a 25-year prison term for his role in the 2022 collapse of FTX, Bankman-Fried was convicted on multiple counts of fraud and conspiracy. He has indicated that he may renew his request for a new trial after the resolution of his direct appeal and a related petition for reassignment. The initial motion for a retrial was submitted by his mother, Barbara Fried, who cited the emergence of new evidence as justification for a retrial. Bankman-Fried, who drafted the motion himself while in detention, stated that he may revisit the motion after the appeal process has concluded. His appeal is presently before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during oral arguments that the original trial was unfair due to restrictions on the evidence Bankman-Fried could present to the jury.