Sam Bankman-Fried wants a new trial. The former FTX CEO is serving 25 years for fraud. He’s pushing for another shot in Manhattan federal court.
His legal team filed a motion in federal court. The argument? New testimony from former FTX executives could challenge prosecutors’ claims. Specifically, claims about the exchange’s financial condition before its November 2022 collapse.
The filing cites testimony from Daniel Chapsky and Ryan Salame. Both are former FTX executives. Neither testified during Bankman-Fried’s 2023 trial. Salame’s since pleaded guilty to campaign finance and fraud-related charges. He’s serving seven and a half years. His guilty plea might add credibility to his testimony about FTX’s operations.
Barbara Fried submitted the motion. She’s Bankman-Fried’s mother. She’s also a retired Stanford law professor. The motion requests a different judge review the case. It alleges trial judge Lewis Kaplan showed “manifest prejudice.” It claims he improperly limited the defense. Kaplan barred arguments that FTX had sufficient assets to repay customers at the time of collapse.
Bloomberg and other observers call the motion a long shot. But it keeps legal challenges alive alongside Bankman-Fried’s formal appeal. Motions for new trials face strict legal standards. They rarely succeed in federal court.
Bankman-Fried was convicted in 2023 on seven criminal counts. He misused customer funds at FTX and Alameda Research. He founded the trading firm too. He’s maintained his innocence despite the conviction. The case became a landmark in the crypto industry.
The motion shows a multi-pronged effort to overturn the conviction. That conviction has shaped regulatory and public perceptions of cryptocurrency businesses. Bankman-Fried continues his legal challenges. Meanwhile, the FTX bankruptcy estate’s been making progress on creditor repayments. The estate returned billions to creditors in 2025. More repayments are expected as asset recoveries continue.
The case’s outcome could influence future expectations. Executive liability. Investor protection in crypto cases. How courts treat claims of “new evidence” in complex financial fraud prosecutions. All on the table.
