FTX Founder Sam Bankman-Fried Seeks Presidential Pardon from Donald Trump

Sam Bankman-Fried (SBF), the once-celebrated “crypto golden boy” and disgraced founder of the now-bankrupt cryptocurrency exchange FTX, is currently serving a 25-year prison sentence for a multi-billion dollar fraud and conspiracy. Despite his lengthy incarceration, SBF has not abandoned hope for an early release, recently submitting a formal application for a presidential pardon to former U.S. President Donald Trump.

Records published by the U.S. Department of Justice’s Office of the Pardon Attorney confirm the clemency request has been officially filed and is currently marked as “Pending.” However, the office explicitly states that details concerning active cases under review will not be disclosed to the public.

The Crimes That Led to a Crypto Empire’s Collapse

In 2023, SBF was convicted on seven counts, including two counts of wire fraud, four counts of conspiracy to commit fraud, and one count of conspiracy to commit money laundering. Prosecutors famously labeled it “the largest financial fraud in U.S. history,” asserting that SBF’s insatiable greed led him to misappropriate $8 billion in customer funds, ultimately orchestrating the spectacular downfall of FTX, once one of the world’s largest cryptocurrency exchanges.

SBF’s Public and Private Pursuit of Clemency

SBF has made no secret of his desire for freedom. In a recent telephone interview with FOX Business, when asked if he hoped for a White House pardon, SBF responded unequivocally, “Of course! But obviously, the final decision rests with the President, it’s not up to me.”

While SBF remained tight-lipped during the interview about whether his family was lobbying on his behalf, reports suggest that his parents, Joseph Bankman and Barbara Fried—both esteemed Stanford Law School professors—have previously contacted Trump’s aides to explore the possibility of a pardon. Whether these overtures have evolved into substantive discussions with White House officials remains unconfirmed.

A Calculated Campaign to Court Trump

The pursuit of a pardon appears to be a meticulously planned strategy by SBF. In the months leading up to his formal application, he has consistently expressed views that align closely with the Trump campaign’s positions. Utilizing approved communication channels from prison and through intermediaries, SBF has not only lauded Trump’s decision to launch military strikes against Iran but also endorsed his purported plan to replace former SEC Chairman Gary Gensler with Paul Atkins. Furthermore, he deliberately highlighted Trump’s success in lowering gasoline prices during his presidency, a clear gesture of goodwill.

This calculated image overhaul is a stark contrast to SBF’s past. During the 2020 election cycle, he was a prominent donor to the Democratic Party. Now, in a bid to appeal to Republicans, he is actively trying to reshape his public perception, even appearing on right-wing commentator Tucker Carlson’s program for an interview, seeking to win over conservative audiences.

Trump’s Precedent: Pardons for Crypto Figures

SBF’s audacious moves have garnered significant attention, largely due to Trump’s established track record of pardoning controversial figures, including several with deep ties to the cryptocurrency industry. Since his return to the White House, Trump has notably granted clemency to Ross Ulbricht, founder of the darknet marketplace Silk Road, former Binance CEO Changpeng Zhao (CZ), and two co-founders of the derivatives exchange BitMEX.

A Direct Rejection from the Former President

However, SBF’s path to a presidential pardon may be fraught with difficulty. In a January interview with The New York Times, Trump explicitly named SBF among several “heavy criminals” he had no intention of releasing, stating unequivocally that SBF “shouldn’t expect a pardon.”

As it stands, SBF’s legal appeals and his presidential pardon application are progressing along two distinct, parallel tracks. The financial world and the crypto market alike are keenly watching to see whether the former “crypto golden boy” will find a new lease on life through Trump’s pen or continue to serve out his substantial sentence.