FTX Founder Withdraws Request for New Trial Due to Fairness Concerns

Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has retracted his request for a new trial, citing concerns that he may not receive a fair hearing. In a letter to the presiding judge, Bankman-Fried, who is currently serving a 25-year sentence for his role in FTX's 2022 collapse, indicated that he may refile the motion after the resolution of his direct appeal and a related request for reassignment. The motion for a new trial, initially filed by his mother, Barbara Fried, claimed that newly discovered evidence warranted a retrial. Bankman-Fried revealed that he had personally drafted the motion while in detention, with minimal assistance, and had consulted with his lawyers and family members regarding the matter. He clarified that, although his lawyers and parents provided editorial suggestions and aided with printing the document, he was the primary author of the letter to the judge. The appeal is currently pending before the U.S. Court of Appeals for the Second Circuit, with Bankman-Fried's attorney arguing that the trial was inherently unfair due to limitations on the evidence presented to the jury.