Key Points
- Bankman-Fried submitted an official clemency request through the DOJ’s Office of the Pardon Attorney, currently showing pending status
- The former FTX chief is imprisoned on a 25-year term following 2023 convictions for fraud and conspiracy charges
- President Trump indicated in January that he has no intention of pardoning the crypto executive
- In recent months, Bankman-Fried has publicly expressed support for Trump’s policy decisions
- The president has granted pardons to several other cryptocurrency industry figures, including Ross Ulbricht and Changpeng Zhao
Sam Bankman-Fried, the disgraced founder of collapsed cryptocurrency exchange FTX, has officially submitted a presidential pardon request to Donald Trump’s administration as he serves out a quarter-century prison sentence for fraud and conspiracy convictions.
Documentation from the U.S. Department of Justice’s Office of the Pardon Attorney confirms the clemency petition has been filed. The application currently holds pending status and is classified under “pardon after completion of sentence.”
Bankman-Fried received guilty verdicts in November 2023 across seven criminal counts encompassing fraud, conspiracy, and money laundering offenses. Prosecutors successfully argued he misappropriated billions in customer deposits from FTX and sister company Alameda Research.
The cryptocurrency empire crumbled in November 2022 following investigative reports that questioned the financial integrity of Alameda Research’s balance sheets. The subsequent investigation uncovered approximately $8 billion in missing customer funds, sparking mass withdrawal attempts.
Public Campaign for Presidential Clemency
During a FOX Business interview conducted from prison, Bankman-Fried openly expressed his desire for a pardon. “Absolutely,” he responded without hesitation. “It would be obviously, you know, ultimately up to the president, not up to me.”
When questioned about family advocacy efforts, he remained noncommittal. Sources indicate his parents — both distinguished Stanford Law School professors Joseph Bankman and Barbara Fried — have contacted individuals within Trump’s inner circle to discuss potential clemency pathways.
Through authorized prison communication systems, Bankman-Fried has consistently posted statements echoing Trump administration viewpoints. His messages have applauded Trump’s military actions against Iran, commended the president’s appointment of Paul Atkins as SEC Chairman, and celebrated stock market performance during Trump’s current term.
This represents a strategic pivot. Previously recognized as a major Democratic Party contributor during the 2020 election cycle, Bankman-Fried subsequently cultivated Republican relationships, including a notable appearance on Tucker Carlson’s program.
Presidential Rejection Remains on Record — Yet Hope Persists
Trump’s public stance offers minimal optimism for the convicted entrepreneur. Speaking to the New York Times in January, the president explicitly stated he does not intend to grant Bankman-Fried a pardon.
This distinguishes SBF from other cryptocurrency industry leaders who received presidential clemency. Trump has pardoned multiple digital currency figures since beginning his current term, including Silk Road creator Ross Ulbricht, former Binance chief executive Changpeng Zhao, and the founding team behind BitMEX.
Judge Lewis Kaplan, who presided over the original criminal proceedings, recently rejected Bankman-Fried’s motion for a new trial. Defense attorneys claimed newly discovered witness testimony could challenge critical elements of the prosecution’s arguments.
Meanwhile, other FTX leadership have completed their legal proceedings. Caroline Ellison, who led Alameda Research and provided crucial testimony against Bankman-Fried, completed a two-year sentence and was released this January. Regulators imposed a decade-long prohibition preventing her from executive positions at publicly traded firms or cryptocurrency platforms.
Ryan Salame received a 90-month prison term following guilty pleas to conspiracy charges related to the FTX collapse.
Bankman-Fried now pursues both his pardon application and appellate challenges through concurrent legal processes.
