Sam Bankman-Fried, former CEO of FTX, has withdrawn his request for a rehearing in his criminal case, citing concerns over the impartiality of the presiding judge. The decision follows Judge Lewis Kaplan's questioning of the motion's independence, amid allegations of external assistance. Bankman-Fried's appeal remains pending with the U.S. Court of Appeals for the Second Circuit, and his request for a judge change is still under review.
In regulatory news, the American Bankers Association (ABA) has requested a 60-day extension for public comments on stablecoin regulations. The ABA argues that more time is needed to assess the proposed rules, which were enacted under the Genius Act signed by Donald Trump in July 2025. The association seeks clarity from U.S. agencies, including the Treasury and FDIC, to ensure comprehensive feedback.
In the mining sector, US Bitcoin has expanded its operations in Alberta, Canada, deploying over 11,000 new mining machines. This expansion increases the company's total computational power to approximately 28.1 exahashes per second, enhancing its capacity to mine Bitcoin and other cryptocurrencies.
FTX Founder Withdraws Rehearing Request Amid Legal Scrutiny
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