Sam Bankman-Fried, the founder of FTX who was sentenced to 25 years in prison on fraud and conspiracy charges, has withdrawn his request for a new trial, according to a letter he personally sent to the judge overseeing his case.
Withdrawal of retrial request
Bankman-Fried’s initial push for a new hearing had been submitted by his mother, Barbara Fried, who argued that new evidence warranted a retrial. However, Bankman-Fried has now pulled back on that request, stating in his letter that he will pause further action on this front for now. He left open the possibility of revisiting the issue after the outcome of his ongoing appeal and a related motion for reassignment of the case.
In his letter, Bankman-Fried highlighted that he had prepared much of the application on his own while being held at the Metropolitan Detention Center in Brooklyn, with only limited support from his family and attorneys. He noted that his parents had contributed editorial and formatting suggestions, some of which were incorporated into the filing.
Details of the appeal process
After FTX’s dramatic collapse in 2022, Bankman-Fried was convicted on seven separate charges. His legal team is now appealing the decision, with the case currently before the U.S. Court of Appeals for the Second Circuit. At a hearing in November, Bankman-Fried’s attorney, Alexandra Shapiro, argued that the trial process was fundamentally unfair, primarily because the defense was restricted in what it could present to the jury.
The letter also emphasized that while Bankman-Fried’s lawyers and family had provided input during the process, he had personally authored the core of the request. He related that he had shared early drafts with a New York-based attorney who had formerly represented him in preparing such motions, but that attorney’s contribution to the final version was minimal.
Nature of the court filing
Bankman-Fried’s effort to obtain a new trial was based on “Rule 33,” a federal legal mechanism that permits retrials in U.S. courts if new evidence emerges or justice so requires. These filings are aimed at reopening cases already decided, based on significant new factors.
Although the retrial application has now been shelved, Bankman-Fried’s ongoing appeal and his previously stated claims continue to draw close attention across the U.S. legal and crypto communities. Whether he will ultimately launch another effort to secure a fresh trial remains an open question.
“I am the principal author of this letter. My parents made a few suggestions regarding writing and organization, and I included some of those in the submission. Since I no longer have access to a computer, I relied on them to help with making paper copies. I also shared earlier drafts with a New York attorney whom I had previously engaged on the matter, but he made no significant contribution to the final version.”
As the legal process continues, Bankman-Fried’s decision to retract his retrial request has sparked renewed debate among observers. The ruling on his appeal is now highly anticipated.
