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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a retrial, expressing doubts about receiving a fair hearing. Bankman-Fried, currently serving a 25-year prison sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, indicated that he might reconsider his request after the outcome of his direct appeal and a related petition for reassignment are determined. 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 revealed that he personally drafted the motion while in detention at the Metropolitan Detention Center in Brooklyn, with minimal assistance. Although he acknowledged consulting his lawyers and family members, including his parents, for input on the letter to the judge, he maintained that he was the primary author. The motion, a formal request under Rule 33 for a new trial based on new evidence or in the interest of justice, was filed despite these consultations. Bankman-Fried's appeal is currently pending before the U.S. Court of Appeals for the Second Circuit, where his attorney, Alexandra Shapiro, argued during November's oral arguments that the original trial was fundamentally unfair, highlighting restrictions on the evidence Bankman-Fried could present to the jury.