FTX Founder Withdraws Request for New Trial, Citing Unfair Hearing Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a new trial, expressing concerns that he may not receive a fair hearing. Currently serving a 25-year prison sentence for his role in FTX's 2022 collapse, Bankman-Fried was convicted on multiple counts of fraud and conspiracy. His motion for a retrial, initially filed by his mother Barbara Fried, claimed that new evidence had come to light that would justify a new trial. Bankman-Fried, who drafted the motion himself while in detention, stated that he may refile the motion after the outcome of his direct appeal and a related request for reassignment have been determined. The appeal is presently before the U.S. Court of Appeals for the Second Circuit, with his lawyer arguing that the original trial was fundamentally unfair due to limitations on the evidence Bankman-Fried could present to the jury.