Prosecutors Drop Second Trial Against FTX Founder Sam Bankman-Fried

Decision Draws Backlash Amid Accusations of Protecting Politicians Who Received Donations

Federal prosecutors have decided not to proceed with a second trial against Sam Bankman-Fried, the disgraced founder of FTX Cryptocurrency Derivatives Exchange, citing public interest in a speedy resolution of the case.
Bankman-Fried was found guilty earlier this month on seven federal charges, including wire fraud and conspiracy to commit wire fraud against FTX customers and against Alameda Research lenders, conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors, and conspiracy to commit money laundering.
The decision not to pursue a second trial, which would have addressed additional charges including conspiracy to bribe foreign officials, has drawn backlash from conservative commentators who accuse the Department of Justice of protecting Democrats from being named as recipients of Bankman-Fried's donations.
Bankman-Fried had donated nearly $38 million to various candidates and PACs, mainly giving his cash to Democratic candidates and left-wing groups, according to Federal Election Commission filings.
Bankman-Fried's sentencing is slated for March 28, 2024, and he faces more than 100 years in prison.