Recent progress in quantum computing has reignited a long-standing concern for bitcoin .
A sufficiently powerful cryptographically relevant quantum computer could, in theory, break bitcoin’s elliptic curve signatures, exposing coins with visible public keys, particularly early Satoshi-era wallets, according to bitcoin analyst James Check.
Quantum doomsayers warn that this would unleash a flood of supply and crash the market. The numbers suggest otherwise.
The threat of quantum computing is not in question.
Roughly 1.7 million $BTC sit in Satoshi-era addresses that could be vulnerable under such a scenario. That is about $145 billion at current prices in potential sell pressure, which sounds catastrophic, but is in fact manageable.
During bull markets, long-term holders (investors that have held bitcoin for at least 155 days) routinely distribute between 10,000 and 30,000 $BTC per day. At that pace, the entire Satoshi-era supply equates to roughly two to three months of typical profit taking. In the most recent bear market, more than 2.3 million $BTC changed hands in a single quarter, exceeding the full quantum “target,” with no systemic collapse.
In addition, monthly exchange inflows approach 850,000 $BTC. Derivatives markets cycle through notional volumes equivalent to the entire Satoshi stash every few days. What appears massive in isolation becomes relatively ordinary when set against bitcoin’s existing liquidity and turnover.
A sudden, concentrated release would still matter. It would likely drive volatility and could trigger a prolonged downturn, according to Check. But even that scenario assumes economically irrational behavior. Any actor capable of accessing such a trove would be incentivized to distribute gradually, likely hedging through derivatives to minimize slippage and maximize returns.
Bitcoin markets routinely absorb supply on the same order of magnitude as the P2PK era coins. The timeframe is measured in months, not years.
The real issue is not mechanical sell pressure. It is governance. The bigger issue is potentially freezing the Satoshi coins, through BIP-361, then letting everything play out as it should.
$XRP moved higher briefly on Wednesday, but the move didn’t hold as bitcoin slid on profit-taking following its move to near $80,000 in Asian morning hours Thursday. Sellers stepped in near resistance and pushed price lower, suggesting the market still lacks conviction to break out, especially as broader crypto sees profit-taking led by bitcoin.
News Background
• GraniteShares has pushed back the launch of its 3x leveraged crypto ETFs to May 7, including $XRP products. The delay removes a near-term catalyst that could have boosted speculative demand.
• The proposed products would offer both long and short exposure, amplifying daily price moves and potentially increasing volatility once live, particularly among retail traders.
Price Action Summary
• $XRP tested the $1.44 level before reversing and slipping back toward $1.42. • The move failed to sustain above resistance, with selling pressure accelerating into the close. • Price is now drifting back into its prior range after the rejected breakout attempt.
Technical Analysis
• The key signal is the rejection at resistance. Buyers pushed price higher but couldn’t maintain control. • Volume picked up during the move, but lacked follow-through needed to confirm a breakout. • The broader structure remains range-bound, with no clear shift in trend yet. • This kind of failed breakout often leads to either consolidation or a deeper pullback.
What traders should watch
• $1.44 remains the key resistance. A clean break is still required to change the structure. • $1.40 is the immediate support level. Losing it would increase downside risk. • Continued weakness after the rejection could push $XRP back toward lower range levels.
Michael Jackson fans will not get to see actress Kat Graham portray Diana Ross in forthcoming biopic Michael.
Graham took to social media Thursday to confirm that the scenes she filmed as the legendary Supremes singer did not end up in the final version of the Lionsgate film due to “certain legal considerations.” Hitting theaters Friday, director Antoine Fuqua‘s biopic stars Jackson’s nephew Jaafar Jackson as the pop music superstar, with Colman Domingo playing his father, Joe Jackson, and Nia Long as mother Katherine. Miles Teller, Laura Harrier and Larenz Tate round out the cast.
“Ahead of the April 24 release of the Michael Jackson film, I want to share that certain legal considerations affected a few scenes, including ones I filmed with an incredible cast,” Graham posted to X. “Unfortunately, these moments are no longer part of the final cut, though the team worked hard to preserve as much of the story as possible.”
THRpreviously reported that an initial, longer version of the movie was set to feature scenes showing Jackson dealing with child sexual abuse allegations. The third act included a portrayal of an accuser whose past settlement with the performer’s estate stipulated that he would never be dramatized, leading the film to be retooled. A second movie focusing on the latter portion of Jackson’s life prior to his 2009 death has been in development from Lionsgate.
Jackson shared a close relationship with Ross after the pair met during his time as a child performer with the Jackson 5. His brother Jermaine Jackson has said that Michael Jackson wrote the romantic 1992 song “Remember the Time” with Ross in mind.
Graham is known for her role in the series The Vampire Diaries and for such recent features as Love in the Villa and Tyler Perry’s Duplicity.
In his Michaelreview for The Hollywood Reporter, chief film critic David Rooney called the feature “surprisingly affecting” and also noted, “The film leaves itself open to accusations of making Michael a saint, which will not sit well with the cancel crowd.”
They beat Oklahoma City. And Detroit, too, meaning both top seeds left Toronto disappointed.
And the Cleveland Cavaliers? The Cavs dropped not just one game, but two in Canada this season.
Which means the Toronto Raptors proved they’re fully capable of holding firm on their home court against top competition and even better against the Cavs, their first-round playoff opponent.
Now comes the tricky part — proving themselves all over again.
Given that these are the playoffs and the Raptors find themselves trailing 2-0 in the best-of-seven, the margin for error is slim. Home court must be protected at all costs, or this series might be over in a matter of days.
The Raptors are encouraged by how they battled throughout Game 1 after a lopsided loss in the opener, keeping the game suspenseful until the last few minutes.
“Our team is so much better now than seven days ago,” said Raptors coach Darko Rajakovic. “We already got so much better. We’re going to continue getting better … we’re excited to come home, play in front of our fans, get the Jurassic Park going outside of the arena and fight back.”
Still, it’s all hands on deck for the Raptors, especially those belonging to Brandon Ingram.
Do the Cavs have a Big Three? That certainly was the case in Game 2 when James Harden and Donovan Mitchell were joined by a partner.
The trick now for Mobley, not only Thursday but throughout this series, is to prove that 25-point (on 11-for-13 shooting) performance wasn’t just a temporary elevation for him.
If so, this series could be a quick one. Mobley has the skills to impact both ends of the floor, although he mainly does so defensively. If his shots fall as they did in Game 2, then he’s doubly dangerous and the Cavs become very tough to defend.
Look to see if Harden and Mitchell feed Mobley the ball early and often.
That’ll be the indicator of whether they have belief in him. Harden’s willingness to pass is to be expected by now; making his teammates better was his priority since arriving at midseason. But if Mitchell also defers to Mobley at times, then that’s respect.
Mobley must earn that attention, though. If he starts hot and is aggressive offensively and physically at both ends, the Raptors will be stretched defensively.
Brandon Ingram’s rebound
Nobody in these playoffs is having a tougher time reaching the level of his All-Star regular season than Ingram, whose scoring and efficiency are both down.
It represents such an about-face for Toronto’s leading scorer, who played career-best basketball from last fall until now; he’s averaging almost 10 fewer points.
This can change suddenly, of course. Ingram is too good a scorer, especially from pull-up mid-range, to stay down for very long. And he’ll get encouragement from the friendly crowd. He averaged 23 points and six rebounds at home this year
The key for Ingram is to get good looks, and most of his Game 2 attempts weren’t forced; he had daylight. He just couldn’t connect on those. If it happens again, then Ingram could find himself battling twin forces — the Cavs’ defense and his confidence.
“I’m confident I won’t miss all my shots and find a rhythm,” Ingram said. “But I’m also confident in our team. I don’t want to make this all about what I’m doing.”
3. Toronto’s deep shooting
The Raptors are next to last in 3-pointers made in the playoffs, just ahead of the Rockets, and that method of shooting has long been problematic. Toronto averaged 11 3s made per game all season; the only team to finish with 10 or fewer was Sacramento.
Can the Raptors win a playoff series with such a de-emphasis on the shot, especially in today’s NBA, and particularly since they might miss Immanuel Quickley for a third straight game with injury?
The biggest use for the 3-pointer is when a team is trying to rally late in the game. The Raptors must resort to other methods in that situation. Quickley is their best deep threat from a volume and efficiency standpoint, which is why his absence has been costly so far.
Scottie Barnes, much like Ingram, doesn’t park himself behind the arc. Along with RJ Barrett, the Raptors’ three most capable scorers do much of their damage inside of 23 feet.
This mindset and strategy might need to change somehow if Quickley doesn’t play and the Raptors are forced to adjust for their playoff lives.
So now it’s 15-15. That’s the W-L breakdown over the past four seasons + postseasons in head-to-head meetings between Denver and Minnesota.
But if we had our druthers, that would be the current record of the longest first-round mega-series in NBA history, a best-of-41 affair promising us lots more of what we’ve already seen from the Nuggets and Wolves since Saturday.
The first two games have been full of highlights and talking points. Stars – Nikola Jokić, Jamal Murray, Anthony Edwards – have been stars.
There have been plenty of scoring runs, an absurd number of 3-point and-1 plays, some compulsory postseason officiating criticism and as much entertainment as we’ve seen in any two or three of the other series combined.
There’s no reason that it should change Thursday when they shift to Minneapolis for Game 3 (9:30 p.m. ET, Prime Video).
Both teams are into their adjustments, confident they can zag to the other guys’ zigs.
Here are three things to watch in Target Center’s latest taste of the thriving rivalry:
1. Did McDaniels’ poke the bear or skin it?
By tipoff, both teams will have had several opportunities to distance themselves from, shrug off, endorse or get worked into a lather over the post-Game 2 comments Monday night by Minnesota’s Jaden McDaniels. Now we get to see what their impact will be.
In talking about the Wolves’ shift in offensive tactics that triggered their 119-114 victory, McDaniels shared that an obvious strategy was to drive the ball at a team full of “bad defenders.”
“Go after Jokić, Jamal, all the bad defenders,” said McDaniels, who has credibility as one of the NBA’s top defensive players. “Tim Hardaway [Jr.], Cam Johnson, Aaron Gordon, the whole team, just go at them. … Yeah, they’re all bad defenders.”
There has been no matching salvo from the Denver side, with Gordon blowing off the potential war of words entirely. “Brother, I don’t care,” he told one reporter.
But two things will have McDaniels’ remarks resonating in Game 3. First, there’s some truth in what he said. And second, these guys are all human and proud.
Denver ranked 21st in defensive efficiency during the regular season, its 116 points per 100 possessions worse than every other playoff team. The Nuggets are vertically challenged, too, finishing 28th in blocked shots with no 7-footers and only backup center Jonas Valančiūas joins Jokić (both 6-foot-11) as a rotation Nugget taller than 6-8.
“They don’t got people that can defend the rim,” McDaniels said. “We’re still more athletic than them and just got to be able to finish when we do.”
Disparaging comments can work two ways. If the Wolves have their way, especially in the paint and in isolation, the Nuggets’ confidence could dwindle with their chances of recovery. If Denver stiffens and pays McDaniels’ back on the court, there could be some serious regrets in the Wolves’ locker room.
2. Faster scoring start by the Joker
It’s hard to take issue with Jokić’s familiar pattern of easing into games and putting a priority on getting his teammates going offensively. He’s a three-time Kia Most Valuable Player (and a finalist for the award again this year). His places in the Hall of Fame and the NBA’s Top 100 (assuming that tradition continues in 2047) are assured.
But the disparity in the Denver marvel’s first- and second-half scoring performances through two games raises questions. Jokić’s combined first-half stats: 12 points on 5-for-10 shooting with no free throws in about 40 minutes. His second halves so far: 37 points on 14-for-29 shooting and 8-for-8 free throws in 41 minutes.
A quicker scoring star by Jokić in Game 3 could have a couple of benefits. It could get Wolves center Rudy Gobert into foul trouble or at least out of the defensive groove he’s had so far in the series. And it relieves some pressure on Murray and their Nuggets teammates to carry the scoring load in a hostile road environment.
Early and often is the way for Jokić to put up points in this one.
3. Edwards’ and Gordon’s injuries worth monitoring
It wouldn’t be late-season/early postseason NBA basketball without some injury concerns. This is the time of year players are most eager to play through assorted dings, and their bosses are most prone to sign off on it. Right now, the two most concerning health situations belong to Denver’s Aaron Gordon and Minnesota’s Anthony Edwards.
Gordon has been playing through tightness in his left calf and was listed as probable heading toward Game 3. But he also took a shot in the back from Wolves power forward Julius Randle in Game 1, visibly grimacing as he got to his feet.
Keep in mind, Gordon played in only 36 games during the season because of two separate strains of his right hamstring. His production through two games this week is down, from career numbers of 16.4 ppg on 49.7% shooting (38.9% on threes) to 12.5 ppg while shooting 42.1% (22.2%).
Edwards missed 11 of 14 games at the end of the regular season with a sore right knee and is listed as questionable for the third straight game of this series. Don’t put much stock in that, then – he has averaged 39 minutes in two games, along with 26 points, 9.5 rebounds and 4.5 assists.
Having anything less than full command of both legs, however, has shown up in Edwards’ accuracy. He has made only 38.6% of his 44 shots, including 5-for-20 from the arc.
Sara Cox is replacing Scott Mills as the host of BBC Radio 2’s breakfast show after he was fired last month over “personal conduct” allegations.
Cox currently presents Radio 2’s teatime show, which she has presided over since 2019. In a statement to BBC News, Cox said she was “ecstatic, honored and incredibly chuffed” to take over the breakfast show. “It’s been a dream to host the breakfast show since I joined Radio 2 and it feels like a bit of a full circle for me,” Cox added.
On March 30, it was revealed that Mills had suddenly been sacked from the breakfast show, which he had been hosting since early 2025. It later emerged that he had been questioned in 2018 by the Metropolitan Police in connection with historical sexual offense allegations involving a teenage boy under the age of 16.
The police said that the inquiry centered on alleged offenses said to have occurred between 1997 and 2000. Mills, who was in his 40s at the time of the police interview, was never charged. The Crown Prosecution Service reviewed the case and concluded in 2019 that the evidence fell short of the threshold required to pursue prosecution, at which point the investigation was formally closed.
The BBC later admitted that it was aware of the previous police investigation into Mills, but dismissed him after “new information” came to light.
“In recent weeks, we obtained new information relating to Scott and we spoke directly with him,” the BBC said. “As a result, the BBC acted decisively in line with our culture and values and terminated his contracts on Friday 27 March.”
The broadcaster added: “Separately, we can confirm the BBC was made aware in 2017 of the existence of an ongoing police investigation, which was subsequently closed in 2019 with no arrest or charge being made. We are doing more work to understand the detail of what was known by the BBC at this time.”
Could Sam Altman’s OpenAI be in the running to win an Emmy?
TBPN, the tech-insider podcast that AI giant OpenAI acquired last month, plans to put up ads across Los Angeles next month with ads campaigning for the show to win an Emmy Award in the emerging media category.
The ads tout TBPN as “the most influential show you’ve never heard of,” blurbing Bari Weiss’s The Free Press.
Starting May 4, TBPN will launch a series of out-of-home ads in L.A. in partnership with advertising company AdQuick. The ads will roll out across “prime L.A. real estate,” per AdQuick, including on Sunset Boulevard, Hollywood, Mid-Wilshire and Santa Monica and Vine. The idea is to highlight how podcasts — and TBPN specifically — are evolving into “full-scale cultural ecosystems,” according to AdQuick.
The partnership is a kind of full-circle moment: AdQuick was TBPN’s second-ever sponsor, and now the two are teaming up to promote the brand to Emmys voters.
“AdQuick has been a day-one partner of TBPN, so partnering with them on our FYC campaign across Hollywood was a no-brainer,” said Dylan Abruscato, president of TBPN. “We’re building something at the intersection of interactive, internet-native content and Hollywood tradition, and it’s exciting to see the Emmys recognize emerging media programs like ours as television continues to evolve.”
Here’s an image of the TBPN Emmys FYC ad that will begin appearing around L.A.:
Big, fancy executive sedans are a dying breed, especially when it comes to EVs. With the Tesla Model S and Mercedes’ EQ line on their way out, pickings are slim. Aside from the upcoming S-Class, there’s the Lucid Air, Cadillac Celestiq and maybe the Porsche Taycan, depending on how far you’re willing to stretch the definition. But as the market leader in luxury sedans, BMW isn’t giving up yet. With the arrival of the new 7-series, the company has made a car — with a complete range of gas, hybrid and fully electric options — that truly embraces modern gadgetry.
Overview
Because we’re EV enthusiasts here at Engadget, we’re primarily going to talk about the new i7, which is the battery-powered version of the new 7 series. Unfortunately, due to building regulations at Grand Central Station in NYC where BMW’s reveal was held, the company was only allowed to showcase a gas-powered car, so this story features photos of the 740. However, company representatives told me that there are mostly only minor cosmetic differences between the ICE and EV models (powertrains aside), so feel free to compare my shots with the official press images to see if you can spot any changes.
Between things like its grille and recessed door handles, the new 7-series looks more like an EV than a gas car. (Sam Rutherford for Engadget)
As for the i7 itself, it will be available in three main trims: the i750 xDrive, the i760 xDrive and the i7 M70 xDrive, the latter of which is the fastest and most powerful of the bunch. Pricing starts at $105,750 for the i750 and $126,250 for the i760, both of which will be available at launch sometime later this year. The i7 M70 will come later, most likely in 2027, with pricing still TBD.
Every model will come standard with a dual-motor AWD drivetrain with the base i750 offering 455 horsepower or 544hp on the i760, before going all the way up to a whopping 680hp on the i7 M70. Compared to the outgoing models, the new 2027 i7 also features a significantly larger power pack (112.4kWh, up from 105.7kWh) composed of BMW’s new sixth-gen battery cells. This helps support faster charging speeds of 250kW (up from 195kW) along with a native NACS port and a 400-volt architecture, which is good enough to take the car from 10 to 80 percent in around 28 minutes. The upgraded batteries should also translate into longer range, with BMW claiming the i760 will deliver more than 350 miles on a single charge, based on internal metrics using EPA testing procedures.
On the new 2027 models, BMW extended the 7-series’ taillights to give its rear a more distinctive appearance. (Sam Rutherford for Engadget)
Finally, as we’re still waiting for the iX3 to make its official debut in the US market, the new 7-series is also BMW’s first car for the States to feature the company’s Neue Klasse design language, which features a massively upgraded collection of tech on the inside. More on that when we get to the interior.
Exterior
One of the most interesting things about the new 7-series is that it was designed to have essentially the same exterior regardless of which powertrain each individual model has. BMW claims this not only makes it easier for customers to choose if they want a gas, hybrid or electric car, it also presents a more unified look across the family. That said, there are a number of features like the grille and recessed door handles that make BMW’s latest luxury sedan look more like an electric car than a traditional ICE vehicle. I even noticed that on the gas-powered 740 BMW had on display, its tail pipes were pointed down and hidden away behind the car’s rear bumper, which plays into the various models’ shared identity. That said, on M Sport models and the M Performance variant due out next year, things like tailpipes will be much more prominent to help assuage the kind of enthusiasts who aren’t ready for the transition to electrification.
BMW says buyers can choose from hundreds of different shades including a new option that combines a matte and traditional glossy finish.
Up front, BMW ditched the stacked headlights found on the previous model in favor of a new razor-thin design that features 24 crystal LEDs that create a neat gem-like appearance. Meanwhile, the company’s signature kidney-shaped grille has been given a thoroughly futuristic update, complete with built-in lighting (including programmable Welcome and Goodbye patterns) and active aero. Around back, the 7-series’ taillights have been extended to nearly the entire width of the vehicle, creating a more distinctive look.
Interior
For tech enthusiasts, the inside of the new 7-series is a real marvel of engineering and gadgetry, headlined by BMW’s Neue Klasse design language. Depending on how you’re counting, there are between five and seven different displays. In the center, there’s the 17.9-inch main screen (which supports both Android Auto and CarPlay), plus the company’s Panoramic Vision (which is actually a projector) that adds another thin display across the entire bottom of the windshield. Panoramic Vision also provides a more traditional 3D HUD for things like turn-by-turn navigation while driving.
For the driver, BMW also updated the i7’s steering wheel with what the company is calling “shy tech.” This means controls are only illuminated when a specific feature is available, while also providing haptic feedback for additional tactile response. And although I didn’t get to drive the car myself, BMW reps told me that the car’s assisted driving tech has been updated so that it’s more accommodating to small, manual adjustments. On other cars, this might disable hands-free driving entirely or force you to wrestle with a robo-controlled steering wheel.
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2027 BMW 7-series interior
In addition to a 17.9-inch main screen, for the first time, BMW is also including a 14.6-inch passenger display.
For the first time on any of its vehicles, BMW is including a 14.6-inch Passenger Screen that can be used to stream movies, music and more, completely independent of what’s on the main display. Then there are two small panels mounted on the doors for rear seat passengers to control things like climate settings and more. And with a Bowers and Wilkins sound system comprising 36 speakers and 4,000 watts of output, audio certainly hasn’t been neglected.
However, the real showpiece of the entire vehicle is arguably the optional 31-inch 8K Theater Screen, which BMW claims is the largest display in any production car today. It’s mounted on a motorized frame that lowers itself down from the ceiling and it’s simply massive. Gadget nerds will appreciate that it comes with an onboard webcam, so you can use it for video calls. And when you’re not working, you can even pair accessories like Bluetooth controllers with the screen to play games. There are even woofers mounted below the rear seat to provide what BMW says is a 4D sound experience.
My favorite part of this ensemble is the full-size HDMI jack that’s located next to the USB-C port on the back of the center console. This will allow you to hook up pretty much anything you want and enjoy it on that huge 31-inch display. And similar to previous 7-series models, the i7 still features BMW’s executive seating mode, which pushes the front passenger seat up an extra 20cm while reclining the rear, providing a truly luxurious way to enjoy a car ride (there’s even a little built-in footrest). Another small thing that potential buyers will surely appreciate is that BMW is also providing four years of data and access to its Digital Premium service as standard on every vehicle.
Initial thoughts
The lap of luxury. (Sam Rutherford for Engadget)
With all of these changes, BMW is calling this the new 7-series, but it’s actually closer to a mid-cycle refresh following a total overhaul back in 2023. For people who can never get enough screen space, the i7 and its gas-powered siblings are practically overflowing with displays. Plus, I really love BMW’s attention to detail that allows users to pair peripherals like game controllers to the onboard displays or plug in external devices via HDMI. As someone who likes the more futuristic, streamlined exterior you see on a lot of EVs, I think BMW has done a great job of striking a middle ground that works for both gas and electric powertrains.
Even the i7’s base specs have gotten some big bumps, both in terms of range and charging speeds, though at some point, BMW will need to upgrade its 400-volt architecture to something beefier. In a lot of ways, i7’s starting price of $105,750 is its biggest hurdle, because for tech lovers, it feels like BMW has covered all the bases and then some. On the bright side, if you can afford one, you can probably also afford to hire a driver every now and then so you can take advantage of the 7-series’ executive seating mode.
With countries banning social media for kids left and right, Meta is trying different things to convince parents that its platforms are safe for teens. In its latest effort, the company will start showing parents the topics their teens have discussed with Meta AI over the previous seven days.
“Parents will be able to see the topics their teen has been asking Meta AI about in [Facebook, Messenger or Instagram] over the past week,” Meta explained in a blog post. “Topics can range from School, Entertainment, and Lifestyle to Travel, Writing, and Health and Wellbeing, among others.”
For parents overseeing Meta’s teen accounts, the feature will appear in a new Insights tab within supervision, both in-app and on web. Parents can tap on a topic to see the different categories within each: for instance, sub-categories within Lifestyle include fashion, food and holidays, while fitness, physical health and mental health are part of the Health and Wellbeing topic.
Meta
Meta also worked with the Cyberbullying Research Center to develop what it calls “conversation starters,” or open-ended conversations about their experience with AI. It provides detail about what the questions are designed to address, and can be found on the Family Center website or through a link in the new Insights tab.
Finally, Meta revealed more detail about its AI Wellbeing Expert Council, who will provide “ongoing input on our AI experience for teens.” It will be made up of three existing advisory groups as well as new members with special expertise in responsible and ethical AI, who are affiliated with the National Council of Suicide Prevention and multiple universities. It’s worth noting that Meta has a separate oversight board that deals with subjects ranging from AI to moderation.
Offboarding moderation chores to busy parents appears to be par for the course for Meta these days. The company has recently cut back on the use of third-party vendors that help with content moderation, shifting responsibility instead to advanced AI systems, according to recent reports.
The dangers of AI for teens have been one of multiple reasons countries like Spain have banned social media platforms for kids. One of the most recent and tragic cases was in Canada, where a teen was provided specific details by OpenAI’s ChatGPT about how to carry out a school shooting. Another such case is under investigation in Florida, and AI’s have been implicated in multiple teen suicides as well.
In the US, the National Suicide Prevention Lifeline is 1-800-273-8255 or you can simply dial 988. Crisis Text Line can be reached by texting HOME to 741741 (US), 686868 (Canada), or 85258 (UK). Wikipedia maintains a list of crisis lines for people outside of those countries.
Sam Bankman-Fried, the founder of collapsed crypto exchange FTX, has withdrawn his bid for a new trial after telling the judge overseeing his case that he doesn’t believe he’ll get a fair hearing.
The withdrawal, filed from federal prison in Lompoc, California, preserves his option to refile once his separate appeal plays out.
In a letter filed April 22, the disgraced crypto mogul told US District Judge Lewis Kaplan that he conceived, researched, and drafted the retrial motion largely on his own while housed at the Metropolitan Detention Center in Brooklyn.
His parents, Stanford law professors Barbara Fried and Joe Bankman, assisted with editing and printing the document because his access to computers at the MDC was too restricted and intermittent to finalize the filing. None of the three attorneys involved in other phases of his case had meaningful input, he said.
The judge had specifically asked Bankman-Fried whether a lawyer had ghostwritten the motion. Rather than fight that line of questioning, he pulled the whole thing.
“I do not believe I will get a fair hearing on this topic in front of you,” he wrote to Judge Kaplan.
The retrial motion and its collapse
The retrial request, formally known as a Rule 33 motion, was originally filed in February through his mother. Under federal rules, it lets a defendant ask for a do-over based on newly discovered evidence or fundamental unfairness.
Bankman-Fried’s version argued that fresh evidence warranted the reopening of the case. But the filing immediately drew judicial scrutiny, not over its substance, but over who actually wrote it. That authorship question became a distraction that consumed the effort.
The FTX collapse and conviction
FTX imploded on November 11, 2022, filing for Chapter 11 bankruptcy. Roughly $8 billion in customer funds had been siphoned off.
Bankman-Fried went from gracing magazine covers and testifying before Congress to being a defendant in one of the largest financial fraud cases in American history.
A jury needed fewer than five hours of deliberation to convict him on all seven counts on November 2, 2023. He was sentenced to 25 years in prison in March 2024.
The conviction centered on the commingling of customer deposits between FTX and Alameda Research, Bankman-Fried’s affiliated trading firm. His defense leaned heavily on the argument that he relied on legal counsel’s advice when structuring those arrangements.
Judge Kaplan, however, placed tight restrictions on what evidence related to that advice-of-counsel defense could be presented to the jury. Those evidentiary limitations are now the backbone of his appeal.
The appeal
The appeal is currently before the US Court of Appeals for the Second Circuit. During oral arguments in November 2025, his appellate attorney Alexandra Shapiro called the trial “fundamentally unfair,” pointing to the constraints Kaplan imposed on what the defense could tell jurors.
There’s also a pending request to reassign the case to a different judge entirely, a motion that essentially accuses Kaplan of bias. The withdrawal of the Rule 33 motion is explicitly tied to waiting for those two proceedings to resolve.
If the appeals court agrees that the trial was flawed, the retrial motion becomes moot. If it doesn’t, Bankman-Fried retains the right to bring it back.
By withdrawing “without prejudice,” he preserves the option to refile later without the baggage of the authorship controversy.
