Sam Bankman-Fried Formally Applies for Presidential Pardon From Trump

TLDR

• SBF filed a formal clemency petition with the DOJ’s Office of the Pardon Attorney, listed as pending
• He is serving a 25-year sentence after being convicted of fraud and conspiracy in 2023
• Trump said in January he does not plan to pardon Bankman-Fried
• SBF has been publicly aligning himself with Trump’s positions in recent months
• Trump has pardoned other crypto figures including Ross Ulbricht and Changpeng Zhao

FTX founder Sam Bankman-Fried has formally applied for a presidential pardon from Donald Trump while serving a 25-year prison sentence for fraud and conspiracy.

The clemency application appeared in records held by the U.S. Department of Justice’s Office of the Pardon Attorney. It is listed as pending and categorized as a “pardon after completion of sentence.”

Bankman-Fried was convicted in November 2023 on seven counts of fraud, conspiracy, and money laundering. The charges stemmed from the misuse of customer funds at FTX and its affiliated trading firm, Alameda Research.

FTX collapsed in November 2022 after reports raised concerns about balance sheet issues tied to Alameda Research. The fallout exposed an $8 billion hole in FTX’s accounts, triggering a run on customer deposits.

SBF Makes His Case Publicly

He declined to say whether family members were lobbying on his behalf. However, his parents — Stanford Law professors Joseph Bankman and Barbara Fried — have previously reached out to people in Trump’s orbit to explore clemency options.

In recent months, Bankman-Fried has posted messages through prison-approved channels that align closely with Trump’s positions. He praised Trump’s strikes against Iran, credited Trump with improving the SEC under new Chair Paul Atkins, and highlighted S&P 500 gains during Trump’s second term.

This follows a pattern. After being seen as a Democratic mega-donor in 2020, Bankman-Fried began courting Republicans. He appeared on Tucker Carlson’s show last year as part of that effort.

Trump Has Already Said No — But the Door Stays Open

Despite the outreach, Trump has given little encouragement. In a January interview with the New York Times, the president said he does not plan to pardon Bankman-Fried.

That puts SBF in a different position from other crypto figures Trump has shown leniency toward. Since returning to office, Trump has pardoned Silk Road founder Ross Ulbricht, former Binance CEO Changpeng Zhao, and the co-founders of BitMEX.

A separate bid for a new trial was denied by Judge Lewis Kaplan, who oversaw the original 2023 case. Bankman-Fried argued that newly available witness testimony could undermine parts of the government’s case.

Other FTX executives have received their sentences. Caroline Ellison, former CEO of Alameda Research and a key government witness, served two years and was released in January. The SEC issued a 10-year ban on her holding executive roles at public companies or digital asset exchanges.

Ryan Salame was sentenced to 90 months after pleading guilty to conspiracy charges.

Bankman-Fried’s pardon petition and appeal are now moving through separate legal channels simultaneously.

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