FTX Legal Saga Intensifies as Prosecutors Block Bankman-Fried’s New Trial Bid

In a significant development in the ongoing legal proceedings surrounding the collapse of FTX, U.S. federal prosecutors have formally opposed former CEO Sam Bankman-Fried's motion for a new trial. The prosecution's filing, submitted on March 16, 2026, argues that Bankman-Fried's defense strategy fails to meet the stringent legal standards required to grant a retrial. Central to his request was an attempt to introduce testimony from two former FTX executives, Ryan Salame and Daniel Chapsky. Prosecutors have countered this move by contending that the evidence and witnesses presented do not qualify as legally 'new'—a critical threshold for such motions—and were either available or could have been discovered with due diligence during the original trial proceedings. This legal maneuver underscores the persistent and systemic governance risks that continue to plague the cryptocurrency sector, highlighting the severe consequences of leadership failures and operational opacity. The case remains a pivotal reference point for regulatory scrutiny and market confidence, as the industry works to rebuild trust. Bankman-Fried's efforts to challenge his conviction face substantial legal hurdles, with this latest opposition signaling a robust prosecution stance aimed at upholding the initial verdict and delivering a clear message on corporate accountability in digital asset markets.

U.S. Prosecutors Oppose Sam Bankman-Fried's Bid for New Trial in FTX Case

Federal prosecutors have moved to block Sam Bankman-Fried's request for a new trial, asserting his defense fails to meet legal standards. The former FTX CEO sought to introduce testimony from ex-executives Ryan Salame and Daniel Chapsky, but prosecutors contend these witnesses aren't legally 'new' evidence.

The case underscores persistent governance risks in cryptocurrency markets. Bankman-Fried's attempts to challenge his conviction face mounting hurdles as authorities maintain a firm stance on the original trial's validity.

Australia's Senate Committee Clears Crypto Licensing Bill

Australia's Senate Economics Legislation Committee has endorsed the proposed Corporations Amendment (Digital Assets Framework) Bill 2025, marking a pivotal step toward modernizing crypto regulation. The legislation, introduced in November 2025, amends existing financial laws to define digital assets and imposes licensing requirements for wallet providers and exchanges.

The bill mandates Australian Financial Services Licences for custodial platforms, enforcing stricter asset-holding and transactional standards. Civil penalties will apply for breaches. This move addresses regulatory gaps exposed by collapses like FTX and Celsius, where client assets lacked traditional finance safeguards.

Consumer protection drives the reforms. The framework targets risks such as frozen withdrawals, insolvency vulnerabilities, and commingling of funds—systemic issues plaguing unregulated crypto intermediaries. Australia joins global jurisdictions establishing guardrails for digital asset markets.