A post shared on Twitter purports President Joe Biden’s administration has quietly dropped all charges against former FTX CEO Sam Bankman-Fried.

Breaking: Biden administration quietly DROPS all charges against Sam Bankman-Fried

The crypto founder who stole $4 billion and gave half of it to Democrat candidates is now free as a bird pic.twitter.com/0mNQCY8KJt

— Retro Coast (@RetroCoast) June 19, 2023

Verdict: False

Five of the 13 charges have been severed, according to CNBC. As a result, Bankman-Fried will be tried on eight counts in 2023 and the remaining five counts in 2024, the outlet indicated.

Fact Check:

Lawyers working on cryptocurrency exchange firm FTX’s bankruptcy case have reportedly racked up $200 million in fees, according to the Financial Times. The cryptocurrency exchange firm filed for Chapter 11 bankruptcy back in November 2022, Forbes reported.

“Breaking: Biden administration quietly DROPS all charges against Sam Bankman-Fried The crypto founder who stole $4 billion and gave half of it to Democrat candidates is now free as a bird,” the Twitter post, viewed over one million times, purports.

The claim is false, as five of the 13 charges have been severed, according to CNBC. As a result, Bankman-Fried will be tried on eight counts in 2023 and the remaining five counts in 2024, the outlet indicated. The eight counts on which Bankman-Fried was originally indicted include conspiracy to commit mail and wire fraud. Bankman-Fried has entered a not guilty plea, also according to the outlet.

The former FTX CEO’s attorneys challenged the five other charges by pointing out they weren’t part of his original extradition deal from the Bahamas, CNN reported. A Bahamian court is set to review these charges, but it is unclear how long the review will take, the outlet indicated. Bankman-Fried’s 2023 trial is currently set for October, according to The New York Times.

Although the claim circulated that the Biden administration had quietly dropped all the charges against Bankman-Fried, the U.S. Department of Justice (DOJ) has not publicly addressed the falsehood via statements posted to its website or verified social media accounts.

In addition, Check Your Fact found no credible news reports supporting the claim. A keyword search generates multiple news reports besides the CNBC, CNN, and New York Times articles stating that five of the 13 charges have been severed. (RELATED: Did FTX Sponsor Study On Ivermectin Efficacy?)

Check Your Fact has contacted the DOJ for comment and will update this piece accordingly if one is received.