Sam Bankman-Fried Drops Request for New Trial Amid Fairness Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has retracted his request for a retrial, citing concerns that he would not receive a fair hearing. Currently serving a 25-year prison sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might revive 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, who claimed that newly discovered evidence warranted a retrial. Bankman-Fried revealed that he had primarily drafted the motion himself while in detention, with limited assistance, and had consulted with his lawyers and family members regarding the document. He clarified that, although they provided editorial suggestions and helped with printing, their input was minimal. 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 original trial was fundamentally unfair, including restrictions on the evidence Bankman-Fried could present to the jury.