Sam Bankman-Fried Seeks New Trial, Asserts FTX Had $16.5B Surplus

On February 10, Sam Bankman-Fried submitted a motion requesting a new trial, presenting a narrative that positions the downfall of FTX as a liquidity crisis rather than a fraudulent bankruptcy. This motion is grounded in Rule 33 of the Federal Rules of Criminal Procedure, which allows courts to grant new trials when it serves the interest of justice.

Bankman-Fried's argument includes the assertion that FTX had a substantial surplus of $16.5 billion in 2022, which, if accurate, could indicate that the company's problems stemmed from liquidity challenges rather than dishonest practices. This claim raises questions about the underlying reasons for FTX's collapse and whether a new trial could lead to a different interpretation of the events that unfolded.