Sam Bankman-Fried (SBF), the disgraced founder of cryptocurrency exchange FTX, has filed a bold motion for a new trial while serving a 25-year prison sentence for fraud and conspiracy. The 33-year-old submitted a 35-page pro se motion—meaning he represented himself—dated February 5, 2026, which was docketed in Manhattan federal court around February 10-11. The filing was submitted on his behalf by his mother, retired Stanford law professor Barbara Fried.
Invoking Rule 33 of the Federal Rules of Criminal Procedure, Bankman-Fried argues that a retrial is warranted “in the interest of justice” due to newly discovered evidence and alleged prosecutorial misconduct. Central to his claim is testimony from former FTX executives who did not appear at his 2023 trial, including former FTX.US head of data science Daniel Chapsky and ex-co-CEO Ryan Salame. Bankman-Fried asserts this evidence would refute the prosecution’s core narrative that he stole billions in customer funds, instead proving FTX was solvent—or even held a multibillion-dollar surplus—at the time of its November 2022 collapse.
The motion further accuses the Department of Justice of pressuring or threatening potential defense witnesses, claiming some were coerced into silence or altered their statements. Bankman-Fried also requests that Judge Lewis A. Kaplan, who oversaw his original trial and sentencing, be recused from any new proceedings.
Originally convicted in November 2023 on seven counts of fraud and conspiracy related to the misappropriation of FTX customer deposits, Bankman-Fried was sentenced in March 2024 to 25 years. His case became a symbol of excess in the crypto industry, with prosecutors alleging he funneled customer money to fund lavish spending, political donations, and risky investments through his hedge fund Alameda Research.
This latest motion is separate from Bankman-Fried’s ongoing formal appeal of his conviction. Legal experts view Rule 33 motions as long shots, requiring defendants to demonstrate that new evidence was unavailable at trial despite due diligence and could likely change the outcome.
As of February 12, 2026, no ruling has been issued. The filing has reignited debate in crypto and legal circles about the FTX saga, though many observers remain skeptical of its success.