FTX founder Sam Bankman-Fried asks for a new trial

Sam Bankman-Fried, who became something of a poster boy for cryptocurrency's problems two years ago, has asked the court for a new trial, saying testimony from a new witness could alter the case against him. He would represent himself if the court agrees to this request, something that's unlikely.

Bankman-Fried, in his filing, claims that Nishad Singh, FTX’s former head of engineering and one of the star witnesses against SBF in his trial, changed his story about FTX's downfall after receiving “threats from the government.”

Additionally, he says, two other executives, Daniel Chapsky and Ryan Salame, would dispute the prosecution's claims. Chapsky, who did not testify for the defense at the trial, said in a sworn statement that he opted not to do so after his lawyers said he would face media scrutiny and possible government retaliation.

The filing is independent of SBF's appeal of his case.

Bankman-Fried was convicted in 2023 on seven counts of fraud and conspiracy related to the collapse of crypto exchange FTX. He was initially jailed for witness tampering. He is currently serving a 25-year sentence in prison.

Former FTX executive Caroline Ellison has already been released from prison after serving 14 months of her two-year sentence. And Ryan Salame, another member of SBF's inner circle, has seen his release date moved up by over a year.

In his petition for a new trial, SBF asked that a different judge be assigned to consider his motion. He claimed that Judge Lewis Kaplan, who oversaw the first court case, had demonstrated “manifest prejudice” toward him.

The appeal and request for a new trial are just part of SBF's juggling act to regain his freedom. He and his parents are also lobbying the White House for a pardon from Donald Trump. So far, those efforts have not paid off.