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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his request for a retrial, expressing doubts about receiving an impartial hearing. Currently serving a 25-year prison term for seven counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might revisit the motion after the outcome of his direct appeal and a related request for reassignment have been determined. The initial motion for a new trial 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, with minimal external assistance. Although he sought input from his lawyers and family members, he maintained that he was the primary author of the letter to the judge. The motion was filed under Rule 33, a federal court provision allowing for a new trial based on newly discovered evidence or in the interest of justice. Bankman-Fried's appeal is presently pending before the U.S. Court of Appeals for the Second Circuit, where his attorney, Alexandra Shapiro, argued during November's oral arguments that the original trial was fundamentally unfair, particularly due to limitations on the evidence Bankman-Fried could present to the jury.