Sam Bankman-Fried Drops Retrial Request, Citing Unfair Trial Concerns

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has formally withdrawn his request for a retrial, expressing doubts about receiving a fair hearing. Currently serving a 25-year prison term for fraud and conspiracy related to FTX's collapse in 2022, Bankman-Fried indicated that he might refile 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 revealed that he played a significant role in drafting the motion while in detention, with minimal assistance, and consulted with his lawyers and family members for input. He stated that they provided editorial suggestions and helped with printing the document, as he no longer had access to a word processor. Bankman-Fried also shared earlier drafts with a New York attorney who was initially hired to represent him in the Rule 33 Motion before deciding to represent himself. 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 restrictions on the evidence Bankman-Fried could present to the jury.