Judge rejects new trial for former FTX CEO Sam Bankman-Fried

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Sam Bankman-Fried appeared on a podcast in March 2025 while being held at the Metropolitan Detention Center in Brooklyn. Source: YouTube In his order, Judge Kaplan wrote that Bankman-Fried’s claim that three former FTX executives could counter the government’s arguments that FTX was insolvent was “baseless on multiple independently sufficient levels.” “None of the witnesses, for example, is ‘newly discovered.’ Bankman-Fried well before trial knew all three of them and purportedly knew also what he hoped they would say were they to testify,” Kaplan wrote. Bankman-Fried argued that two former FTX executives who didn’t testify — Ryan Salame, the former CEO of FTX’s Bahamian arm and Daniel Chapsky, FTX’s former head of data science — could counter the government’s claims about the exchange’s financial health. Salame separately pleaded guilty to violating campaign finance laws and operating an illegal money-transmitting business. He was sentenced to seven and a half years in prison in May 2024. Related: Sam Bankman-Fried ramps up Trump support following Ellison’s release He also argued that Nishad Singh, FTX’s former engineering lead, who cut a plea deal with prosecutors to avoid jail and testified against Bankman-Fried at trial, changed his testimony “following threats from the government.” Judge Kaplan said Bankman-Fried could have sought to compel testimony from the trio but didn’t, and his claim that their absence or decision to testify against him was a result of government threats “is wildly conspiratorial and entirely contradicted by the record.” Bankman-Fried was found guilty on seven criminal charges related to fraud and money laundering, with a jury finding he illegally transferred billions of dollars of FTX customer money to the trading firm Alameda Research to make risky trades that contributed to the exchange’s collapse. Bankman-Fried is being held in a federal prison in Lompoc, California. Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

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