FTX Founder Withdraws Retrial Request, Citing Concerns Over Fairness

The founder of the now-defunct cryptocurrency exchange FTX, Sam Bankman-Fried, has formally withdrawn his motion for a retrial, citing doubts about receiving a fair hearing. Currently serving a 25-year prison sentence for his role in the 2022 collapse of FTX, Bankman-Fried was convicted on multiple counts of fraud and conspiracy. He has indicated that he may renew the motion after the resolution of his direct appeal and a related request for the reassignment of his case. 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 has stated that he may refile the motion after the appeal process is complete. The case is currently pending before the U.S. Court of Appeals for the Second Circuit, where his attorney, Alexandra Shapiro, has argued that the original trial was fundamentally unfair due to limitations on the evidence Bankman-Fried could present to the jury.