Sam Bankman-Fried Drops Retrial Bid, Citing Fairness Concerns

Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has officially withdrawn his motion for a retrial, expressing doubts about receiving an impartial hearing. Currently serving a 25-year sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might revisit the motion after the outcome of his direct appeal and a related request 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, who drafted the motion while in detention at the Metropolitan Detention Center in Brooklyn, acknowledged consulting with his lawyers and family members, although he maintained primary authorship of the letter to the judge. He clarified that his legal team and family provided editorial suggestions and assisted with printing the document, as he no longer had access to a word processor. Bankman-Fried also shared earlier drafts with a New York attorney initially hired to represent him in the Rule 33 Motion before deciding to represent himself. The appeal is presently before the U.S. Court of Appeals for the Second Circuit, where his attorney, Alexandra Shapiro, argued during oral arguments in November that the trial was fundamentally unfair, highlighting restrictions on the evidence Bankman-Fried could present to the jury.