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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has rescinded his motion for a retrial due to concerns that he would not receive a fair hearing. In a letter to the presiding judge, Bankman-Fried expressed his intention to potentially renew the motion after the outcome of his direct appeal and a related request for reassignment have been determined. Bankman-Fried, currently serving a 25-year sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, had initially filed the motion through his mother, Barbara Fried, citing newly discovered evidence that could warrant a retrial. Although Bankman-Fried drafted the motion himself while in detention, he did consult with his lawyers and family members, incorporating some of their suggestions into the final document. The appeal is currently pending before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during oral arguments in November that the original trial was fundamentally unfair, particularly with regards to the limitations imposed on the evidence Bankman-Fried could present to the jury.