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    US Court Orders Government Response to Sam Bankman Fried’s New Trial Motion

    2 Mins Read News

    A federal judge has ordered prosecutors to respond to a motion for a new trial filed by Sam Bankman-Fried, the former chief executive of FTX. In a filing issued in the US District Court for the Southern District of New York, Judge Lewis Kaplan directed the US government to submit its response by March 11.

    Bankman-Fried was convicted in 2023 on seven felony counts tied to fraud and misuse of customer funds following the collapse of FTX. In March 2024, he was sentenced to 25 years in federal prison. His latest motion argues that newly surfaced witness testimony could materially affect the outcome of his trial, warranting a fresh proceeding.

    Appeal Process Continues in Second Circuit

    In addition to seeking a new trial, Bankman-Fried has appealed his conviction and sentence to the US Court of Appeals for the Second Circuit, where a ruling is still pending.

    The case remains one of the most significant criminal prosecutions to emerge from the cryptocurrency sector’s 2022 downturn. While speculation has circulated about a potential presidential pardon from Donald Trump, public statements from the White House indicate no such action is under consideration.

    The court’s upcoming deadline marks the next procedural step in a legal battle that continues to draw attention across financial and political circles.

    Disclaimer

    This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.

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