FTX Founder Sam Bankman-Fried Won't Face Second Trial: US Prosecutors

U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.

In a letter filed in federal court in Manhattan, prosecutors said much of the evidence that would be offered at a second trial was already presented at the first trial, and there was a "strong public interest in a prompt resolution" of the matter.

Bankman-Fried is expected to be sentenced in March 2024.

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