FTX Founder SBF Requests Retrial! An Altcoin’s Price Soars! Here Are the Details

Sam Bankman-Fried (SBF), the founder of FTX and a central figure in one of the biggest scandals in the cryptocurrency world, has filed a new request for a hearing with the Southern District of New York Federal Court (SDNY).

The application was registered as a “pro se” request, meaning a request made by the defendant on their own behalf.

The petition submitted to the court was filed by Barbara H. Fried, Professor Emerita at Stanford University Law School. The document states that Bankman-Fried is seeking a retrial under Article 33 of the Federal Criminal Procedure Rule. A supporting legal memorandum and a statement by Daniel Chapsky were also included with the application.

The graph shows the increase in FTT price following the development.

The petition states that Bankman-Fried was unable to physically submit the application himself because he was in prison, and therefore Fried filed it on his behalf.

In addition to requesting a new hearing, Bankman-Fried also made noteworthy statements on the social media platform X. The convicted FTX founder argued that the company never actually went bankrupt.

“FTX never went bankrupt. I didn’t file for bankruptcy,” said SBF, alleging that lawyers filed a “fake bankruptcy filing” just four hours after taking control of the company, and that they did so to make money.

Bankman-Fried claimed to support these allegations with a sworn court statement dated January 2023.

*This is not investment advice.