Judge Denies Sam Bankman-Fried New Trial Bid, Upholding FTX Conviction

A federal judge has denied Sam Bankman-Fried’s request for a new trial, dealing another setback to the former FTX CEO as he continues to challenge his conviction. The decision, issued on April 28, 2026, by US District Judge Lewis Kaplan in New York, rejects Bankman-Fried’s attempt to reopen his criminal case based on what he claimed was newly discovered evidence.

Bankman-Fried, who was convicted in 2023 over the dramatic collapse of cryptocurrency exchange FTX, is currently serving a 25-year prison sentence. His legal team filed the motion under Rule 33, a legal provision that allows defendants to seek a new trial if new and material evidence emerges that could potentially alter the outcome of the case.

In his argument, Bankman-Fried claimed that the jury was not presented with a complete picture of FTX’s financial situation. He suggested that certain assets existed that could have been used to repay customers, which might have influenced the jury’s understanding of the company’s collapse. Additionally, he argued that the involvement of legal advisors in key business decisions could have supported his defense that he acted in good faith rather than with criminal intent.

Despite these claims, Judge Kaplan rejected the motion, stating that the arguments did not meet the legal standard required to justify a new trial. The judge also denied the request even after Bankman-Fried attempted to withdraw the motion, citing concerns about judicial fairness.

This ruling significantly limits Bankman-Fried’s options, leaving his ongoing appeal before the US Court of Appeals for the Second Circuit as his primary path forward. The case continues to draw attention within the cryptocurrency industry, as it highlights the legal risks and regulatory scrutiny facing digital asset platforms.

The denial reinforces the original verdict and underscores the challenges Bankman-Fried faces in overturning his conviction related to one of the most high-profile crypto collapses in recent history.