Legal professionals representing the US authorities within the case towards Sam “SBF” Bankman-Fried have two weeks to reply to the previous FTX CEO’s movement for a brand new legal trial.
In a Wednesday submitting within the US District Court docket for the Southern District of New York, Choose Lewis Kaplan mentioned that the US authorities shall reply by March 11 to SBF’s movement for a brand new trial. The previous FTX CEO, who was convicted of seven felony counts in 2023 and later sentenced to 25 years in jail, requested a brand new trial earlier this month, claiming that new witness testimony may assist bolster his case.
Bankman-Fried, as soon as revered by many as some of the outstanding faces representing the crypto and blockchain trade, was on the heart of the controversy across the collapse of FTX. He stepped down as CEO in November 2022, later going through legal costs within the US for the misuse of consumer funds.
After Kaplan ordered the previous CEO to serve 25 years in jail in March 2024, SBF’s legal professionals filed to attraction the conviction and sentence. As of Thursday, the US Court docket of Appeals for the Second Circuit had not reached a ruling on the submitting.
Associated: Kalshi bans US politician over alleged insider buying and selling violation
Former Alameda Analysis CEO Caroline Ellison, who testified towards SBF at trial as a part of a plea take care of US authorities, was launched in January, having spent 440 days in US custody. Ryan Salame, the previous co-CEO of FTX Digital Markets, was sentenced to greater than seven years and stays incarcerated on the time of publication.
Is Bankman-Fried angling for a presidential pardon?
Though the previous CEO was largely silent on social media for his first 12 months in jail, Bankman-Fried later started posting messages supporting US President Donald Trump and difficult details about the collapse of FTX.
In March 2025, SBF gave an interview to political commentator Tucker Carlson — a transfer that reportedly led to his switch to a federal correctional establishment — claiming that he had higher relationships with Republicans than Democrats.
This 12 months, he has posted a number of instances to X, claiming that there had been “political bias” in his case. Bankman-Fried praised Trump’s actions in “standing up” to such bias, whereas additionally criticizing Kaplan for overseeing the civil defamation case introduced towards the then-presidential candidate in 2023.
Nevertheless, regardless of Bankman-Fried’s efforts and hypothesis by many within the crypto trade, the White Home has repeatedly mentioned that Trump shouldn’t be contemplating a pardon for the previous CEO, each in a January New York Occasions interview and in line with a Tuesday report by Fortune. Trump has pardoned a number of figures within the crypto and blockchain trade since taking workplace, together with former Binance CEO Changpeng Zhao and Silk Highway founder Ross Ulbricht.
Journal: Large questions: Must you promote your Bitcoin for nickels for a 43% revenue?