In the filing submitted to federal court, the defense argues that testimony from witnesses who were not presented during the original trial could materially impact the outcome of the case. However, under U.S. federal law, motions for a new trial face a particularly high threshold and are rarely granted, making the request a legally challenging endeavor.

Defense Focuses on Previously Unheard Witnesses

At the center of the motion are potential testimonies from former FTX executives Daniel Chapsky and Ryan Salame. According to the defense, their statements could challenge the prosecution’s portrayal of FTX’s financial condition prior to its collapse. Neither individual testified during the original proceedings.

Ryan Salame previously pleaded guilty to charges related to campaign finance violations and fraud and was sentenced to seven and a half years in prison. He is currently serving that sentence. The defense contends that information from these former executives may have influenced the jury’s assessment of the company’s financial status and internal operations.

The filing also alleges that Judge Lewis Kaplan, who presided over the original trial, demonstrated “manifest prejudice” during the proceedings. As a result, the defense has requested that a different judge review the new trial motion. This argument echoes claims raised during the appeal process, including assertions that the defense was prevented from informing jurors that sufficient funds were allegedly available to repay investors.

A Multi-Front Legal Strategy

Bankman-Fried (SBF) was convicted on seven criminal counts related to the misuse of customer funds at FTX and its affiliated trading firm, Alameda Research. The case stands as one of the most significant fraud prosecutions in the history of the cryptocurrency industry.

Meanwhile, the FTX bankruptcy estate continues efforts to compensate affected customers. Throughout 2025, billions of dollars have been distributed to creditors, with additional repayments expected as asset recoveries and claims evaluations progress.

Although the outcome of the new trial request remains uncertain, the filing underscores Bankman-Fried’s continued strategy of contesting the verdict through multiple legal channels.

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Fake Crypto Warning Issued

The show’s site warned of fraudulent memecoins using its branding: “We support Bitcoin and no other memecoin.”

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After documentaries like Trust No One and the upcoming The Altruists (about SBF and Caroline Ellison), Netflix expands its crypto-themed content.

Are Crypto Influencers Being Targeted?

Streamer Amouranth revealed her home was invaded after sharing her $20M BTC holdings. Similar crypto-related attacks have surged in 2025.

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The filing referenced the conviction of Sam Bankman-Fried (SBF) on seven counts of fraud and conspiracy, stating that, “The plaintiffs are ignoring the fact that FTX fell apart due to one of the largest corporate frauds in recent history.”

Binance Pushes Back Against FTX’s Accusations

According to FTX’s claims, a 2021 share repurchase agreement with Binance was funded by misused customer assets, which allegedly allowed Binance to walk away with billions in crypto. However, Binance firmly denied these allegations, noting that FTX continued to operate for 16 months after the deal, and that there is no reasonable basis to believe the company was insolvent at the time.

CZ’s Tweet and the FTT Fallout

A key point of contention in FTX’s lawsuit is a tweet by former Binance CEO Changpeng Zhao (CZ) on November 6, 2022, which announced the liquidation of the company’s FTT holdings — a move FTX claims escalated panic and accelerated its downfall. In response, Binance argued that the decision was driven by already public concerns, particularly a November 2 report highlighting issues in Alameda Research’s balance sheet.

The filing also defended CZ’s remark about trying to minimize market impact, asserting that no credible evidence was provided to suggest any malicious intent behind the announcement.

Jurisdiction Dispute and Strong Words

Binance further noted that the entities involved are not based in the United States, challenging the jurisdiction of the court in this matter.

In a scathing critique, Binance’s legal team described the complaint as “a collection of speculative claims” based largely on hindsight narratives from a convicted fraudster. As a result, Binance has requested a full dismissal of all charges. As of now, FTX has not issued an official response.

FTX Set to Distribute Another $5 Billion to Creditors

In a parallel development, FTX’s restructuring plan is moving forward, with a second round of repayments scheduled to begin on May 30. According to a May 15 notice, disbursements will be made via BitGo and Kraken, targeting a new group of approved creditors.

Five designated creditor classes, categorized as “convenience classes,” are expected to receive between 54% and 120% of their approved claims. In total, FTX may repay as much as $16 billion, depending on the final volume of validated claims.

These updates mark significant progress in both the legal battle between crypto giants and the long-awaited compensation process for affected users.

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SBF Now at Terminal Island

According to data from the Federal Bureau of Prisons, Bankman-Fried is currently held at Terminal Island Prison, where notorious figures like Charles Manson, Al Capone, and former Theranos COO Ramesh Balwani were also previously incarcerated.

Before arriving at this facility, Bankman-Fried had been held at FCI Victorville, described as a “violent and political” prison. In March, he also spent a brief time at the Federal Transfer Center in Oklahoma City before being moved to California.

SBF’s series of prison transfers came right after his notable prison interview with Tucker Carlson.

Sam Tried to Repair His Image

Allegedly, after the collapse of FTX, Bankman-Fried created a list on Google Docs aimed at restoring his public image. The list included ideas such as appearing on the show (misspelled as “Tucker Carlsen”) and presenting himself as a Republican opposing the woke agenda.

Some legal experts suggest that his recent conservative statements may be part of a strategy to seek a pardon from President Donald Trump.

25-Year Sentence and $11 Billion Repayment Order

In November 2023, Sam Bankman-Fried was convicted on multiple fraud charges. During a month-long trial related to the FTX collapse, several of his former associates testified against him.

At the March 2024 sentencing, Judge Lewis A. Kaplan stated: “He knew what he did was a crime. He made a bad bet on not getting caught. He’s not sorry—only for being caught,” expressing strong criticism.

SBF is currently serving a 25-year prison sentence, along with a court-ordered $11 billion restitution.

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According to sources acquainted with the matter, SBF is most likely being transported from the Brooklyn, New York, prison to a federal detention institution in Mendota, California. SBF has spent exactly nine months in New York, without alteration in prison stay.

Bankman-Fried’s Relocation Details

Mendota has a minimum-security satellite camp and a medium-security jail, according to the Bureau of Prisons website. Right now, the facility holds 931 prisoners. Sam would get closer to his parents’ house near Stanford University with this prison move. The new prison cell is two and a half hours’ commute from home.

Declining to speak on Mr. Bankman-Fried, a Bureau of Prisons official cited “privacy, safety, and security reasons.”

Lewis A. Kaplan, the judge supervising SBF’s case, advised in a court filing on Wednesday afternoon that the Bureau of Prisons retain Bankman-Fried at the Metropolitan Detention Center in Brooklyn.

Earlier, SBF said he wanted to stay at Brooklyn’s Metropolitan Detention Center (MDC), a mixed-security New York jail. He said that keeping access to the legal team working on his appeal would be simpler.

The Wall Street Journal earlier revealed SBF’s relocation.

Background on Charges and Sentence

Sam Bankman-Fried was sentenced to 25 years in jail in March 2024 for scamming lenders, investors, and FTX clients. Considered one of the biggest financial scams in American history.

Related: Sam Bankman-Fried Blames Others, Insists He’s Not a Criminal

Charges against Bankman-Fried included two counts of securities fraud and commodities fraud conspiracies, two counts of wire fraud and wire fraud conspiracy, and one count of money laundering conspiracy.

According to prosecutors, he ran a years-long fraud, drawing $8 billion from client accounts. SBF bought luxury real estate, funded venture capital projects, and made political contributions using the money he pilfered.

Bankman-Fried was given bail following the decision and restricted to his parents’ house in Northern California. Judge Kaplan claimed he had sought to threaten a witness, therefore reversing his bail in August. Bankman-Fried has only stayed at the Metropolitan Detention Center since then.

The post Bankman-Fried Moved to California Prison Amid Legal Battle appeared first on Coin Engineer.

In documents filed in Miami court, investors demanded approval of the deal, citing Bankman-Fried’s valuable knowledge of Shaquille O’Neal, Gisele Bündchen, Tom Brady, Kevin O’Leary and several other defendants.

The agreement outlines Bankman-Fried’s obligations, acknowledges his current incarceration and associated restrictions on his activities. Notwithstanding these limitations, he is expected to use reasonable efforts to cooperate by providing financial statements, non-privileged documents relating to investments in Anthropic PBC, and information regarding the various entities and individuals involved in the case.

FTX has engaged in extensive marketing and advertising efforts, establishing partnerships with celebrities and organizations such as MLB and the NBA’s Miami Heat franchises. However, the stock market crashed in 2022, causing investors to lose $8 billion.

Bankman-Fried was convicted in November on seven counts of defrauding FTX customers, lenders and investors. He was sentenced to 25 years in prison at the hearing last month.

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The photo, which is claimed to have been taken on December 17, depicts Bankman-Fried with five other inmates. Fong shared this photo during an interview with former MDC prisoner “G Lock”. While G Lock provided some insights into Bankman-Fried’s prison life, he described him as “strangely devil-like” but also noted that he was “a good man”. It was also shared that Bankman-Fried did not shave or take showers in prison conditions.

First photo of Sam Bankman-Fried in jail at MDC Brooklyn. (December 17, 2023) pic.twitter.com/QlENjjmeQG

— Tiffany Fong (@TiffanyFong_) February 20, 2024

Some members of the crypto industry commented on SBF’s situation in the photo. Some noted that prison life wasn’t treating him well, while others joked that he’d joined gangs in prison. On the other hand, Bankman-Fried’s prison attitude was claimed to be “more gangster” than American rapper Tekashi Six Nine as Bankman-Fried hadn’t “snitched on anyone” in prison.

Finally, according to Fong, while Bankman-Fried’s friends in prison poked fun at his relationship with Caroline Ellison, it was reported they watched his interview that was published with the biography of Michael Lewis’s Big Short book.

The post New Images of SBF from Prison! appeared first on Coin Engineer.

It is expected that on Thursday, SBF will conduct a pre-sentencing interview with the U.S. Supervised Probation and Pre-Trial Services System that will propose a sentence. His lawyers argued that the defense needed more time to prepare for the sentencing process.

The lawyers claimed that the government’s necessary statements for the sentencing would not be made until 2nd February, saying that the defense needed to “gather and prepare the materials needed for sentencing.”

SBF, however, is also faced with a second hearing starting on March 11th due to charges related to allegations of bank fraud and bribery of Chinese government officials. SBF’s lawyers claimed that the government has not yet decided whether to proceed.

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No Objections (SBF)

Judge Kaplan, stating that there were no objections in the defense to the previous sentencing date, said there was sufficient time.

Additionally, Kaplan wrote in his order “An additional time has been granted for the defendant to make his sentencing statements” and added that Bankman-Fried had six months to prepare for the pre-sentencing meeting.

On November 2nd Bankman-Fried was found guilty by jury of defrauding FTX customers and investors and the trial revealed a large-scale misuse of client funds. FTX had filed for bankruptcy last November.

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The post SBF! Judge denies request by SBF ‘s lawyers! appeared first on Coin Engineer.

The document states, “The sale(s) or transfer(s) offered by the Debtors for the Trust Assets will help prepare for distributions in dollars to be made to the creditors and will enable the Debtors to act swiftly to sell the Trust Assets in due time.” This will also reduce the cost and delay of filing separate requests for each sale by providing the flexibility to sell the Trust Assets to multiple buyers.

Last week, the court found FTX founder Sam Bankman-Fried guilty of defrauding customers and lenders, and temporarily set the sentencing date for March 28, 2024. He could theoretically receive a 115-year prison sentence, but experts believe this sentence could realistically be between 15-20 years.

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The “trust assets” as of October 25, 2023, are located in five Grayscale Trusts with a total value of $691 million based on market value and a Bitwise trust valued at $53 million.

The debtors noted that this decision will not only proactively reduce price fluctuation risk, but also best preserve the value of the Trust Assets and thus provide the highest yield to the creditors, while also promoting fair distribution of funds in the debtor’s restructuring plan.

The Debtors have also suggested establishing a pricing committee that includes representation from all stakeholders, along with the requirement for an investment advisor to obtain at least two different offers before selling the assets.

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In the criminal case in New York, the jury deliberated for about four hours and found Former FTX CEO SBF guilty of all seven charges.

Bankman-Fried was found guilty of seven charges, including two wire fraud, two wire fraud conspiracies, one security offense, one commodity fraud conspiracy, and one money laundering conspiracy.

The court will reassemble on March 28, 2024, for Judge Lewis Kaplan of the New York District to determine Bankman-Fried’s sentence. Government prosecutors will propose a sentence, but Judge Kaplan will make the final decision.

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Court Decision and Details of the Charges

Each of Bankman-Fried’s crimes,wire fraud, wire fraud conspiracy and money laundering conspiracy require maximum 20 years of imprisonment.

At a press conference outside the courthouse, Damian Williams, United States Prosecutor for the Southern District of New York, described Bankman-Fried’s crimes as a “multi-billion dollar plan designed to become king of the crypto world,” and considered it one of the greatest financial scams in American history.

Bankman-Fried’s lawyer Mark Cohen said that they respect the jury’s decision, but they feel very disappointed with the outcome. Mr. Bankman-Fried maintains his innocence and will continue to fight these charges vigorously.

Other key FTX executives, including former Alameda CEO Caroline Ellison, FTX founder Gary Wang and former FTX engineering president Nishad Singh have accepted various charges and cooperated with the government to testify against Bankman-Fried during the five-week trial.

Bankman-Fried had denied all charges and during his trial, he testified as a witness to defend his innocence and described FTX’s November 2022 crash as a series of major mistakes.

He claimed that he had committed no wrongdoing in the relationship between Alameda and FTX and stated that he had not participated in key decisions.

SBF accused Wang of creating a function that allowed Alameda to trade funds that were not present on FTX and claimed that he did not know what happened to Alameda’s billion-dollar debt in the crashed crypto market in 2022.

In his testimony, he accused Ellison of neglecting risk management and claimed that FTX clients did not defraud their assets exceeding $8 billion, but rather, Alameda borrowed from the exchange.

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