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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has officially withdrawn his request for a new trial, citing concerns that he would not receive a fair hearing. Bankman-Fried, who is currently serving a 25-year prison sentence for his role in FTX's 2022 collapse, indicated that he may renew his motion for a retrial 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 filed by Bankman-Fried's mother, Barbara Fried, who claimed that newly discovered evidence warranted a retrial. Bankman-Fried stated that he had largely drafted the motion himself while in detention, with some assistance from his lawyers and family members. He noted that his lawyers and parents provided editorial and organizational suggestions, which he incorporated into the motion. Bankman-Fried also shared earlier drafts with a New York-based attorney who was initially hired to represent him in the matter. A Rule 33 motion, which is a formal request for a new trial based on new evidence or in the interest of justice, is currently pending. The appeal is currently before the U.S. Court of Appeals for the Second Circuit, where Bankman-Fried's attorney, Alexandra Shapiro, argued during oral arguments in November that the trial was fundamentally unfair due to limitations on the evidence that Bankman-Fried could present to the jury.