SBF Withdraws Trial Motion as Investments Soar

TL;DR

SBF Drops Motion: Sam Bankman-Fried withdrew his Rule 33 request for a new trial from prison, citing doubts over a fair hearing before Judge Kaplan.[[1]](https://www.nysun.com/article/sam-bankman-fried-withdraws-appeal-from-prison-even-as-his-investments-in-spacex-and-anthropic-appear-prophetic)[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)
Two Appeals Pending: He still has two appeals active, including one on conviction and sentence plus a judge reassignment request.[[1]](https://www.nysun.com/article/sam-bankman-fried-withdraws-appeal-from-prison-even-as-his-investments-in-spacex-and-anthropic-appear-prophetic)
Investments Vindicated: His pre-collapse stakes in SpaceX and Anthropic have surged massively in value, making those bets look prophetic amid his legal setbacks.[[3]](https://www.nysun.com/article/sam-bankman-fried-withdraws-appeal-from-prison-even-as-his-investments-in-spacex-and-anthropic-appear-prophetic?lctg=1435264398&recognized_email=jandisco%40icloud.com)

The story at a glance

Sam Bankman-Fried, the convicted FTX founder serving a 25-year sentence, withdrew his pro se Rule 33 motion for a new trial on April 22, 2026, in a letter to U.S. District Judge Lewis Kaplan, while keeping two other appeals alive. The New York Sun reports this as he sits in prison, contrasting it with the huge appreciation in his old investments in SpaceX and Anthropic. The timing ties to recent viral discussion of FTX's liquidated portfolio, now hypothetically worth tens of billions if held.[[1]](https://www.nysun.com/article/sam-bankman-fried-withdraws-appeal-from-prison-even-as-his-investments-in-spacex-and-anthropic-appear-prophetic)[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)

Key points

Bankman-Fried filed the Rule 33 motion earlier in 2026 seeking a new trial after his 2023 conviction on fraud charges.
Withdrawal came without prejudice, letting him refile after rulings on his direct appeal to the Second Circuit and a request to reassign the case from Judge Kaplan.[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)
He cited spending time answering court questions on whether lawyers helped draft the motion, plus belief in no fair hearing before Kaplan.[[4]](https://bitbo.io/news/sbf-withdraws-new-trial-motion)
Article highlights FTX stakes in SpaceX (from ~$200 million to $15 billion) and Anthropic ($500 million stake now ~$82 billion per secondary estimates).[[5]](https://finance.yahoo.com/markets/crypto/articles/could-ftx-assets-worth-114b-080959354.html)
Broader FTX portfolio, if not sold in bankruptcy, could total $114 billion today across AI, crypto, and space assets, per circulating analyses.[[6]](https://www.threads.com/@stocksharks/post/DXc6tA9DXsW/if-sam-bankman-frieds-ftx-had-held-onto-its-investments-instead-of-liquidating)

Details and context

The New York Sun piece frames Bankman-Fried's legal retreat against the backdrop of his investment prescience: FTX and Alameda bought into Anthropic for about $500 million (8% stake) in 2022, sold by estate for $1.3 billion in 2024; current private valuations put it at $82 billion or more.[[5]](https://finance.yahoo.com/markets/crypto/articles/could-ftx-assets-worth-114b-080959354.html) SpaceX exposure via $700 million to K5 Global has grown to $15 billion amid $350 billion+ company value and IPO talk.[[7]](https://www.forbes.com/sites/josipamajic/2026/03/18/ftx-owned-anthropic-solana-and-spacex-then-had-to-sell-too-soon)

Bankruptcy estate prioritized quick creditor recoveries over holding volatile assets, distributing over $10 billion by April 2026—often at 100-120% of claims—but missing later gains in AI boom and crypto rebound.[[8]](https://cryptorank.io/news/feed/09094-what-if-sam-bankman-fried-s-ftx-never-sold-its-holdings-value-today)

This withdrawal streamlines his strategy to higher courts first, as Rule 33 motions can run parallel but complicate proceedings.

Key quotes

"I do not believe I will get a fair hearing on this topic in front of you," Bankman-Fried wrote to Judge Kaplan in his April 22 letter.[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)

Why it matters

Bankman-Fried's saga tests limits of post-conviction relief in high-profile white-collar cases, spotlighting judge bias claims and bankruptcy asset handling. Investors and creditors see a reminder that forced sales forfeit upside in fast-moving tech/crypto sectors, as FTX estate's choices traded certainty for billions in potential. Watch Second Circuit rulings on his conviction appeal and reassignment bid, expected over 2026 but with no firm timeline.

What changed

Before April 22, 2026: Bankman-Fried's Rule 33 new trial motion active in SDNY under Judge Kaplan. Now different: Motion withdrawn without prejudice, focus shifts to pending Second Circuit appeal and reassignment request. Happened: Letter filed April 22, 2026.[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)

FAQ

Q: Why did Bankman-Fried withdraw his new trial motion?

A: He said court questions on drafting diverted time from opposing prosecutors, and he doubted a fair hearing from Judge Kaplan. The move preserves option to refile post-appeal.[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)

Q: What appeals does Bankman-Fried still have?

A: Two pending: direct appeal of conviction and 25-year sentence in Second Circuit, plus request to reassign case from Judge Kaplan.[[1]](https://www.nysun.com/article/sam-bankman-fried-withdraws-appeal-from-prison-even-as-his-investments-in-spacex-and-anthropic-appear-prophetic)

Q: How have SBF's SpaceX and Anthropic investments performed?

A: SpaceX stake grew from ~$200 million to $15 billion; Anthropic from $500 million (8%) to ~$82 billion at current private valuations. These fuel "prophetic" narrative amid liquidation regrets.[[5]](https://finance.yahoo.com/markets/crypto/articles/could-ftx-assets-worth-114b-080959354.html)

Q: When was the withdrawal filed?

A: April 22, 2026, in SDNY case 1:22-cr-00673-LAK, per court docket.[[2]](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.594.0.pdf)