Sam Bankman-Fried Drops Retrial Request, Citing Fairness Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a retrial, expressing doubts about receiving a fair hearing.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 his role in FTX's 2022 collapse, indicated that he might refile the motion after the resolution of his direct appeal and a related request for the case to be reassigned. The initial motion for a new trial was submitted by his mother, Barbara Fried, citing the emergence of new evidence that could warrant a retrial. Bankman-Fried drafted the motion himself while in detention, with minimal assistance, and clarified that although he sought input from his lawyers and family, the final version was his own work. He noted that his lawyers and a New York attorney provided editorial suggestions and helped with printing the document, as he no longer had access to a word processor. A Rule 33 motion, which Bankman-Fried had filed, is a formal request for a new trial based on newly discovered evidence or in the interest of justice. His 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 trial was fundamentally unfair, highlighting restrictions on the evidence Bankman-Fried could present to the jury.