Last updated on May 12th, 2026 at 08:17 pm
US prosecutors have asked a federal judge to reject a request from former FTX CEO Sam Bankman-Fried for a new criminal trial, arguing that his claims fail to meet the strict legal threshold required to reopen the case.
According to a report by Bloomberg on Thursday, prosecutors told the court that the witnesses cited by Bankman-Fried cannot be considered “new evidence,” a key requirement for granting a retrial. The filing marks the latest development in the ongoing legal battle following the collapse of the cryptocurrency exchange FTX, one of the most dramatic failures in crypto industry history.
US prosecutors urged a judge to reject @SBF_FTX ‘s bid for a new trial, saying the jailed former FTX CEO failed to present any legitimate new evidence.
Prosecutors argued the witnesses cited in SBF’s February motion were “fully known to the defense before trial,” meaning their…
— Timmy Shen (@timmyhmshen) March 12, 2026
Bankman-Fried was convicted in November 2023 on multiple counts of fraud and conspiracy tied to the misuse of customer funds from FTX and its affiliated trading firm Alameda Research. He was later sentenced to 25 years in prison.
Prosecutors challenge “new evidence” claim
In their court response, prosecutors argued that testimony referenced by Bankman-Fried from former FTX executives Ryan Salame and Daniel Chapsky does not qualify as newly discovered evidence. According to the filing, both individuals were already known to the defence before the trial began in 2023. Because of that, prosecutors said their potential testimony cannot justify reopening the case.
Bankman-Fried filed his motion for a new trial in February, claiming that statements from former executives could challenge the prosecution’s narrative about FTX’s financial health before its collapse. His legal team argues the testimony could cast doubt on how prosecutors presented the company’s condition to jurors.
Judge Lewis Kaplan previously ordered prosecutors to formally respond to the motion by March 11. The court has not yet ruled on whether the retrial request will move forward.
Appeals continue amid pardon speculation
While pushing for a retrial, Bankman-Fried is also appealing his conviction at the US Court of Appeals for the Second Circuit, seeking to overturn the verdict through multiple legal channels.
At the same time, speculation has circulated that the former crypto executive may be exploring the possibility of a presidential pardon. The discussion intensified after Bankman-Fried publicly praised the crypto policies of US President Donald Trump earlier this year. However, that possibility appears unlikely for now. In January, Trump reportedly told The New York Times that he had no intention of granting Bankman-Fried a pardon, leaving his appeal and retrial efforts as his primary legal options.
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