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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has officially withdrawn his motion for a retrial, citing doubts about receiving a fair hearing. Currently serving a 25-year sentence for his role in the company's 2022 collapse, Bankman-Fried was convicted on multiple counts of fraud and conspiracy. He indicated that he might renew the motion after the outcome 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, who claimed that newly discovered evidence would warrant a retrial. Bankman-Fried drafted the motion himself while in detention, with minimal assistance, and later consulted with his lawyers and family members. He stated that they provided editorial suggestions and helped with printing the document, as he no longer had access to a word processor. Bankman-Fried also shared earlier drafts with a New York attorney who was initially hired to represent him in the motion. A Rule 33 motion is a formal request for a new trial based on new evidence or in the interest of justice. The appeal is currently pending before the U.S. Court of Appeals for the Second Circuit, where his attorney, Alexandra Shapiro, argued during oral arguments in November that the trial was fundamentally unfair, including restrictions on the evidence Bankman-Fried could present to the jury.