Sam Bankman-Fried Drops Retrial Bid, Citing Fairness Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has withdrawn his motion for a retrial, expressing doubts about receiving a fair hearing. Currently serving a 25-year sentence for fraud and conspiracy convictions related to FTX's collapse in 2022, Bankman-Fried indicated that he might renew the motion after the outcome of his direct appeal and a related request for reassignment are determined. 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 drafted the motion himself while in detention, with minimal assistance, and consulted with his lawyers and family members, incorporating some of their suggestions. He shared earlier drafts with a New York attorney but noted that this individual had no significant input into the final motion. 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 trial was fundamentally unfair due to limitations on the evidence Bankman-Fried could present to the jury.