FTX Founder 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Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has formally withdrawn his motion for a retrial, citing doubts about receiving a fair hearing.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 refile 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 may renew his motion at a later time. 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 personally drafted the motion while in detention at the Metropolitan Detention Center in Brooklyn, with minimal assistance. Although he sought input from his lawyers and family members, he maintained that he was the primary author of the letter to the judge. Bankman-Fried's 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 inherently unfair due to limitations on the evidence Bankman-Fried could present to the jury.