Former FTX CEO Sam Bankman-Fried seeks a new trial on fraud charges, citing witness testimony that could weaken the case leading to his 25-year prison sentence. His mother filed the motion, challenging his 2023 conviction, highlighting his strategy to contest the verdict despite FTX’s collapse affecting the crypto industry.

Bankman-Fried argues that testimony from former FTX executives could challenge the prosecution’s narrative about the company’s financial condition before its collapse. He also requests a different judge to review the motion, claiming bias from trial judge Lewis Kaplan. Meanwhile, the FTX bankruptcy estate progresses in returning funds to customers affected by the collapse.

The FTX estate, overseen by court-appointed administrators, distributed billions of dollars to creditors in 2025 and continues to make progress in returning funds to affected customers. The exchange uses a phased repayment process, with additional payouts expected as asset recoveries and claims reviews continue. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information.

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