Sam Bankman-Fried Seeks Pardon from President Donald Trump Regarding FTX Corruption Case
The former cryptocurrency industry titan, currently imprisoned due to a massive fraud case, Sam Bankman-Fried, has reportedly submitted a petition for a pardon to United States President Donald Trump. The 34-year-old, who once held billionaire status, is currently serving a 25-year prison sentence. He was sentenced after being found guilty on various federal charges related to the collapse of FTX, the crypto trading exchange he founded and led, as well as his affiliated firm, Alameda Research.
According to online records from the US Department of Justice, Bankman-Fried has applied for a ‘pardon after completion of sentence’ after serving only two years of his term. If this application is granted by President Trump, the fraud crimes he committed would be legally pardoned and his legal status restored once his prison sentence is complete. Official documents indicate that he is not seeking commutation, which would involve a reduction or shortening of his current sentence. Meanwhile, he continues to pursue an appeal against his verdict, maintaining his innocence.
To date, White House representatives have declined to comment on the submission, while Bankman-Fried’s lawyers have not responded to requests for confirmation. Previously, Bankman-Fried was the most prominent figure in the crypto world. His FTX platform was used by millions before its dramatic collapse in 2022. The company’s downfall was triggered by the revelation that Bankman-Fried misappropriated customer deposits for personal investments and to settle his company’s debts.
The FTX founder’s pardon request arrives amidst more than 20,000 pending requests for pardons or commutations currently being reviewed by the Office of the Pardon Attorney at the US Department of Justice. President Donald Trump has recorded several pardons during his second term, including hundreds of January 6 Capitol riot participants, former staff members involved in legal cases, the founder of a dark web drug trading site, and the leader of a competing crypto platform, Binance. However, the chances for Bankman-Fried appear slim; when questioned by the media earlier this year regarding the possibility of pardoning Sam Bankman-Fried, Trump indicated that he would not do so.