US President Donald Trump reportedly shut the door on a pardon for Sam Bankman-Fried again in January. That left the convicted FTX founder, a.ok.a. SBF, with two paths out of a 25-year jail sentence — an attraction already working its means via federal court docket, and a movement for a brand new trial filed final month. Federal prosecutors simply moved to shut the second.
Witnesses Have been No Secret, Authorities Says
On Thursday, Bloomberg reported that the US Justice Division urged a federal choose to reject Bankman-Fried’s request for a retrial, arguing that the protection hasn’t come near clearing the authorized bar required to get one.
On the heart of the combat is testimony from two former FTX executives — Ryan Salame and Daniel Chapsky — whom the protection says may have weakened the federal government’s case towards Bankman-Fried at trial.
Prosecutors aren’t shopping for it. Each males have been identified to the protection lengthy earlier than the 2023 trial started, in keeping with court docket paperwork cited by Bloomberg.
🚨 Bloomberg: US Prosecutors Argue SBF’s Retrial Bid Ought to Be Denied
In response to Bloomberg, US prosecutors have argued that FTX co-founder Sam Bankman-Fried’s (SBF) request for a retrial needs to be rejected, as he has didn’t exhibit any unfairness in his conviction. In…
— 0xzx (@0xzxcom) March 12, 2026
That issues as a result of a defendant looking for a brand new trial on the idea of recent witness testimony should present the proof was genuinely unknown and unavailable on the time of the unique proceedings. If the protection had entry to these witnesses earlier than, the argument falls aside beneath the legislation.
SBF filed the retrial movement in February, claiming that what Salame and Chapsky may say now would undercut the federal government’s account of FTX’s monetary state earlier than the alternate collapsed in late 2022.
Decide Lewis Kaplan had ordered prosecutors to reply to the movement by March 11. They did — and their reply was a flat no.
A Conviction Constructed On Fraud And Betrayal
A jury discovered SBF responsible in November 2023 on seven counts of fraud and conspiracy. The fees stemmed from the misuse of buyer funds at FTX and its affiliated buying and selling agency, Alameda Analysis.
The implosion of FTX worn out billions of {dollars} belonging to prospects all over the world and despatched shockwaves via the crypto business.
Whereas Bankman-Fried pursues authorized reduction via the courts, his public feedback have drawn scrutiny of a unique sort.
Reviews point out he praised Trump’s place on crypto in social media posts on February 1, which sparked hypothesis that he was angling for political intervention. Trump stated he had no plans to pardon him, in keeping with experiences.
Court docket Retains SBF Choices Slender
A number of of Bankman-Fried’s closest associates took plea offers and testified towards him. Their accounts painted an image of an organization the place buyer cash was quietly funneled to Alameda and used for investments, loans, and political donations — all with out depositors’ data.
The choose sentenced Bankman-Fried to 25 years behind bars following his conviction.
Featured picture from Getty Photos, chart from TradingView
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