Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, is pursuing a new trial in his fraud case, as reported by Inner City Press. This development comes as he is currently serving a 25-year sentence. His pro se motion was filed in the Southern District of New York and entered into the docket in February 2026.
What does pursuing a new trial entail? Bankman-Fried's motion invokes Rule 33 of the Federal Rules of Criminal Procedure, which permits a federal court to grant a new trial if it is deemed necessary for justice. This rule is generally invoked based on newly discovered evidence, legal errors that occurred during the trial, or infringements of constitutional rights.
In his motion, he argues that his constitutional right to a fair trial was compromised. The filing was made from prison and included a memorandum of law and a declaration signed by his mother, Barbara H. Fried, who is authorized to submit documents on his behalf due to his incarceration.
What evidence is Bankman-Fried presenting? One significant element of this submission is Exhibit A, which comprises a declaration from Daniel Chapsky, a former head of data science at FTX.US. Chapsky previously supported Bankman-Fried during his 2024 sentencing proceedings.
In addition to the motion for a new trial, Bankman-Fried is also appealing his conviction in the Second Circuit Court of Appeals. This appeal, which focuses on issues such as the fairness of the trial and evidentiary exclusions, remains unresolved as of now.
The FTX exchange, once a major player in the cryptocurrency sector, collapsed in November 2022 following revelations of mismanagement involving billions in customer deposits. This situation has not only raised questions about accountability in the crypto industry but has also sparked broader conversations about regulatory scrutiny for digital asset trading. Investors and stakeholders should observe the outcomes of Bankman-Fried's ongoing legal battles, as they could have far-reaching implications for the future of cryptocurrency regulation.