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

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has retracted his motion for a retrial due to concerns that he would not receive an impartial 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 the case to be reassigned. 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 may renew his motion at a later time. 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 revealed that he had largely drafted the motion himself while in detention, with minimal assistance, and had consulted with his lawyers and family members regarding the letter to the judge. Although they provided some editorial suggestions, Bankman-Fried maintained that he was the primary author of the motion. His appeal is currently pending before the U.S. Court of Appeals for the Second Circuit, where his lawyer, Alexandra Shapiro, argued during oral arguments in November that the original trial was fundamentally unfair, highlighting restrictions on the evidence Bankman-Fried could present to the jury.