Donald Trump has ruled out pardoning FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for fraud, amidst ongoing legal battles.
Former U.S. President Donald Trump has firmly stated he will not grant a pardon to Sam Bankman-Fried (SBF), the founder of FTX, who is currently serving a 25-year prison sentence for fraud. This announcement came during an interview with The New York Times.
In addition to Bankman-Fried, Trump has also excluded former Venezuelan president Nicolás Maduro, music mogul Sean "Diddy" Combs, and ex-New Jersey senator Robert Menendez from any potential pardons.
Bankman-Fried has been detained since August 2023 after a federal judge rejected his bail request prior to his criminal trial. In March 2024, he was sentenced to 25 years in prison after being convicted on seven charges.
Media reports suggest that Bankman-Fried's parents are actively seeking avenues for a pardon, with the Wall Street Journal noting the preparation of strategic memorandums and the involvement of outside legal counsel. However, there are no indications of direct communication with Trump's campaign team.
Conservative activist Laura Loomer has alleged that there is a substantial and well-funded effort to persuade Trump to pardon the FTX founder, though this claim has not been officially verified.
Furthermore, the U.S. Department of Justice has not listed Bankman-Fried as a candidate for pardon in 2025. Despite Trump's previous pardons for figures like Silk Road founder Ross Ulbricht and former Binance CEO Changpeng Zhao, skepticism remains high regarding Bankman-Fried's chances of release, with community estimates placing his likelihood of freedom before 2027 at a mere 5%.
Bankman-Fried's political affiliations complicate matters; he was a significant donor to the Democratic Party and personally supported President Joe Biden.
Appeal Options
Bankman-Fried still has an opportunity to appeal his conviction. Hearings in the Appeals Court occurred in November, but the final ruling has yet to be issued. Should the appeal fail, the defense's only remaining recourse would be to approach the U.S. Supreme Court.
Meanwhile, others implicated in the FTX collapse are nearing the end of their sentences. Caroline Ellison, who received a two-year prison sentence, is expected to be released on January 21. She was recently moved from a federal facility in Connecticut to the New York office of the Reintegration Bureau, which is customary as she prepares for her release.
In late October, Bankman-Fried claimed that FTX was solvent at the time of its downfall, asserting that its assets totaled $25 billion against $13 billion in liabilities.
