Prosecutors say Sam Bankman-Fried will not face a 2nd trial

U.S. prosecutors said they would not pursue another trial against FTX founder Sam Bankman-Fried.

FTX founder Sam Bankman-Fried will not stand trial a second time after federal prosecutors in New York said Friday they would not prosecute the disgraced crypto executive on charges he made unlawful campaign contributions.

The charge was severed from the rest of the case when Bankman-Fried was convicted at trial in November.

Prosecutors said in a letter to the court Friday evening "it does not plan to proceed with a second trial," which had been scheduled to start in March.

Prosecutors said they were mindful of the "strong public interest in a prompt resolution of this matter" as it abandoned the effort to try Bankman-Fried again.