Sam Bankman-Fried Launches New Court Challenge to 25-Year Sentence

Sam Bankman-Fried, the former head of the defunct cryptocurrency exchange FTX, is once again attempting to overturn his fraud conviction by asking a federal court in New York to grant him a new trial. 

The motion was submitted as a pro se filing, meaning Bankman-Fried is representing himself. It was reportedly lodged with the court by his mother, Stanford law professor Barbara Fried, and argues that new evidence and previously missing testimony could justify reopening the case.

The request marks the latest move in a series of legal challenges he has pursued since receiving a 25-year prison sentence.

Filing Points to Witnesses Absent From Original Trial

At the center of the request is the claim that certain testimony was not heard during the original proceedings, including statements from former FTX executive Ryan Salame. The filing suggests that such testimony could have affected the jury’s understanding of the events leading up to FTX’s collapse.

Salame, who was involved with the exchange’s operations, later faced his own federal charges and was convicted in a separate case. 

He had argued that he cooperated with authorities under an arrangement he believed would protect his wife, Michelle Bond, from prosecution. Bond was later charged in connection with alleged illegal campaign contributions tied to her congressional campaign.

According to the motion, the absence of testimony from figures involved in related legal proceedings may have left gaps in the narrative presented at trial. 

Bankman-Fried’s latest request spans roughly 35 pages and outlines why he believes the new information warrants reconsideration of the verdict.

Earlier Appeals Focused on Fairness and Solvency

This latest move follows earlier efforts by Bankman-Fried to challenge his conviction through the appeals process. 

His legal strategy has often focused on arguments that he did not receive a fair trial and that FTX may not have been insolvent at the time of its dramatic collapse in November 2022.

However, appellate judges previously signaled skepticism toward that line of reasoning. During a hearing late last year, members of the court emphasized that the government’s case was not solely about the company’s financial condition but rather about alleged misrepresentations to customers and investors.

One appellate judge noted that prosecutors argued Bankman-Fried assured users their funds were safe, while the jury ultimately found that those funds were used in ways the company had not disclosed. This conclusion formed the core of the conviction on multiple counts of fraud and conspiracy.

The downfall of FTX and its affiliated trading firm, Alameda Research, sent shockwaves through the crypto market and triggered a wave of regulatory scrutiny worldwide. Once one of the industry’s largest exchanges, FTX filed for bankruptcy in November 2022 after a liquidity crisis exposed major gaps in its balance sheet.

Clemency Prospects Diminish

Alongside his legal appeals, Bankman-Fried has also explored the possibility of political relief. These hopes appeared to dim recently when President Donald Trump said he would not consider clemency for the former executive.

Despite the setback, Bankman-Fried has continued to defend his actions publicly. Through posts on the social platform X, he has claimed he was unfairly targeted and characterized his prosecution as politically motivated. 

Those assertions have been met with skepticism from legal analysts, who point to the jury’s verdict and the extensive evidence presented during the trial.