Sam Bankman-Fried, the disgraced founder of collapsed crypto exchange FTX, is seeking a new trial in his fraud case in federal court for the Southern District of New York, according to Inner City Press.
In a document published by the Inner City Press, Bankman-Fried filed a lawsuit that was docketed on February 10, 2026, invoking Rule 33 of the Federal Rules of Criminal Procedure and the Due Process Clause of the U.S. Constitution.
Rule 33 allows a federal court to grant a new trial “if the interests of justice so require.” It is typically used to challenge a conviction based on newly discovered evidence, legal errors at trial, or violations of constitutional rights.
Bankman-Fried is currently serving a 25-year prison sentence following his conviction in November 2023 on seven counts of fraud and conspiracy related to the collapse of FTX. In his petition, he contends that his constitutional right to a fair trial was violated.
The filing was submitted from prison and accompanied by a memorandum of law, a declaration and a cover letter dated February 5, 2026. The letter was signed by Barbara H. Fried, Saunders Distinguished Professor of Law at Stanford Law School and Bankman-Fried’s mother, who said she was authorized to file the documents on his behalf due to his incarceration.
The submission includes Exhibit A, a statement from Daniel Chapsky, former head of data science at FTX.US, who also provided a letter of support during Bankman-Fried’s 2024 sentencing proceedings.
The motion is procedurally distinct from Bankman-Fried’s ongoing appeal to the Second Circuit Court of Appeals (Case 24-961), which was argued in November 2025 and remains pending. This appeal focuses on trial fairness, evidence exclusions and alleged judicial bias.
FTX, once ranked among the world’s largest digital asset exchanges, imploded in November 2022 after revelations that billions in customer deposits had been funneled into speculative bets and political contributions through sister company Alameda Research.
