The former CEO of FTX, currently serving a 25-year prison sentence for fraud, has submitted a clemency request to Donald Trump, banking on the president's past pardons in the crypto sphere, despite prior warnings against such expectations.
By Helene Braun|Edited by Nikhilesh De Jun 8, 2026, 3:41 p.m. 2 min readMake preferred on Sam Bankman-Fried, founder of FTX, is seen arriving at court on December 19, 2022 in Nassau, Bahamas. (MEGA/GC Images)Key Points:
- Sam Bankman-Fried, the incarcerated founder of the defunct cryptocurrency exchange FTX, has officially requested a pardon from President Donald Trump as he serves a 25-year sentence for fraud and conspiracy.
- The clemency request is currently under review by the Justice Department’s Office of the Pardon Attorney, while he is also appealing his conviction.
- Bankman-Fried and his family are actively seeking support for his pardon, as he aligns his public comments with Trump’s views, despite the president indicating that Bankman-Fried should not rely on clemency.
The founder and former CEO of FTX, Sam Bankman-Fried, has formally submitted a request for a presidential pardon to Donald Trump while he is serving a 25-year sentence for fraud and conspiracy.
This clemency petition was officially recorded on Monday by the U.S. Department of Justice's Office of the Pardon Attorney, indicating that it is pending and under review, although specifics about ongoing evaluations are not made public.
convicted in 2023 for his role in a fraudulent scheme that led to the collapse of FTX, which was once one of the largest cryptocurrency exchanges globally.The exchange fell apart in November 2022 after CoinDesk reported significant financial discrepancies related to the trading firm Alameda Research, revealing an $8 billion deficit and prompting a rush of withdrawals by customers.
Bankman-Fried confirmed his desire for clemency in a recent FOX Business interview.
When asked by FOX Business correspondent Susan Li if he wanted a pardon from the White House, he replied, "Absolutely. It would be obviously, you know, ultimately up to the president, not up to me."
He did not disclose whether his family members were advocating for him to the administration. His parents, Joseph Bankman and Barbara Fried, both professors at Stanford Law School, have previously contacted individuals close to Trump to discuss the possibility of a presidential pardon for their son, but it is unclear if they have had direct discussions with White House officials.
The request for a pardon comes after months of public statements where Bankman-Fried has aligned himself with Trump’s stances. Through approved communication methods from prison, he has praised Trump’s military actions against Iran, claimed that Trump "saved" the Securities and Exchange Commission by appointing Paul Atkins to replace Gary Gensler, and noted the lower gas prices during Trump’s presidency.
It seems he is following a strategy aimed at winning favor with Republicans, having previously been seen as a major donor to Democrats during the 2020 election. This strategy included appearances on Tucker Carlson's show, which he did last year.
His outreach is noteworthy, given Trump’s history of granting pardons to notable defendants, including several linked to the crypto sector. Since returning to office, Trump has pardoned Ross Ulbricht, the founder of Silk Road, former Binance CEO Changpeng "CZ" Zhao, and the co-founders of BitMEX.
Nonetheless, Trump’s backing remains uncertain. In a January interview with The New York Times, Trump stated that Bankman-Fried should not expect clemency, placing him alongside other notable defendants he had no intention of pardoning.
At present, Bankman-Fried continues to serve his sentence while both his appeal and clemency request are processed through their respective channels.
Sam Bankman-FriedMore For You
A quick review of the Ways and Means tax bills: State of Crypto
By Nikhilesh De19 hours agoThe House Ways and Means Committee is gearing up for its significant tax initiative.
Read full storyLatest Crypto News