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

Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a retrial, citing doubts about receiving a fair hearing. In a letter to the presiding judge, Bankman-Fried expressed his intention to potentially renew the motion after the resolution of his direct appeal and a related request for reassignment. Currently serving a 25-year sentence for multiple counts of fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he had primarily drafted the motion himself while in detention, with minor assistance. The initial motion for a new trial was filed by his mother, Barbara Fried, based on claims of newly discovered evidence that could warrant a retrial. Bankman-Fried clarified that, although he sought input from his lawyers and family, he was the primary author of the letter to the judge. His appeal 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 trial was inherently unfair due to restrictions on the evidence Bankman-Fried could present to the jury.