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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his request for a retrial, citing doubts about receiving a fair hearing. In a letter to the presiding judge, Bankman-Fried expressed his intention to potentially renew the motion after the resolution of his direct appeal and a related request for the case to be reassigned. Currently serving a 25-year sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried had initially filed for a new trial through his mother, Barbara Fried, based on newly discovered evidence. He revealed that he personally drafted the motion while in detention, with minor assistance, and consulted with his lawyers and family members for editorial input. The motion, a Rule 33 request, seeks a new trial due to new evidence or in the interest of justice. Bankman-Fried's appeal is pending 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 fundamentally unfair, particularly due to the limitations imposed on the evidence Bankman-Fried could present to the jury.