Bankman-Fried Drops Request for New Trial Due to Fairness Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has rescinded his motion for a retrial, citing concerns that he would not receive an impartial hearing. Bankman-Fried, currently serving a 25-year prison term for his role in FTX's 2022 collapse, indicated that he might refile the motion after the resolution 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 warranted a retrial. Bankman-Fried drafted the motion himself while in detention, with minimal assistance, and consulted with his lawyers and family members for editorial and organizational input.