Bankman-Fried Drops Retrial Request, Citing Fairness Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has officially withdrawn his motion for a retrial, expressing doubts about receiving a fair hearing. Currently serving a 25-year prison term for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might renew the motion after the outcome of his direct appeal and a request for reassignment are determined. 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 later consulted with his lawyers and family members for editorial suggestions. He shared that they helped with printing the document, as he no longer had access to a word processor, and also received feedback from a New York attorney. The appeal is presently 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 due to limitations on the evidence Bankman-Fried could present to the jury.