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

The founder of the now-defunct FTX cryptocurrency exchange, Sam Bankman-Fried, has formally withdrawn his motion for a retrial, expressing doubts about receiving a fair hearing.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 reconsider his 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, 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, albeit with limited assistance. Although he sought input from his lawyers and family, he maintained that he was the primary author of the letter to the judge. The case is presently before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during November's oral arguments that the original trial was inherently unfair, particularly due to restrictions on the evidence Bankman-Fried could present to the jury.