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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a retrial, expressing doubts about receiving an impartial hearing. Currently serving a 25-year prison sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might reconsider filing for a new trial after the outcome of his direct appeal and a related request for the case to be reassigned. The initial motion for a retrial was submitted by his mother, Barbara Fried, citing newly discovered evidence that could warrant a retrial. Bankman-Fried revealed that he personally drafted the motion while in detention at the Metropolitan Detention Center in Brooklyn, albeit with some assistance. He clarified that although his lawyers and family members provided editorial suggestions, he was the primary author of the letter to the judge. The appeal is presently pending before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during November's oral arguments that the original trial was inherently biased, including restrictions on the evidence Bankman-Fried could present to the jury.