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

Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has rescinded his request for a new trial, citing doubts about receiving a fair hearing. In a letter to the presiding judge, Bankman-Fried, who is currently serving a 25-year prison sentence for fraud and conspiracy related to FTX's collapse in 2022, indicated that he might refile the motion after the resolution of his direct appeal and a related request for reassignment. The motion for a new trial was initially filed by his mother, Barbara Fried, who claimed that new evidence warranted a retrial. Bankman-Fried stated that he primarily drafted the motion himself while in detention, with minimal assistance, and consulted with his lawyers and family members, who provided editorial suggestions.