Jailed crypto mogul Sam Bankman-Fried turns to Trump for pardon
What's the story
Sam Bankman-Fried, the former cryptocurrency mogul who is currently serving a prison term for fraud, has requested a presidential pardon from Donald Trump. The 34-year-old was sentenced to 25 years in prison after being convicted on multiple federal charges related to FTX and Alameda Research, companies he founded and managed. Now, he has filed an application for a "pardon after completion of sentence" with the Department of Justice (DOJ).
Pardon details
Bankman-Fried's appeal against conviction and sentence ongoing
Bankman-Fried's request for a pardon comes as he continues to appeal against his conviction and sentence. He has long maintained his innocence in the case. The former billionaire became a prominent figure in the cryptocurrency world when FTX, the exchange he founded, gained popularity among millions of users. However, the firm collapsed in 2022 amid allegations that Bankman-Fried misused deposited funds for personal investments and debt payments.
Pardon process
Bankman-Fried's request among thousands of other applications
Bankman-Fried's pardon request comes with over 20,000 other applications for pardons or commutations. Trump has granted several pardons during his second term, including those for Capitol rioters, former staffers accused of crimes, the founder of a dark web drug marketplace, and even the head of crypto platform Binance. However, when asked earlier this year if he would consider pardoning Bankman-Fried, Trump indicated that he would not.
Pardon appeal
'Ultimately up to the President'
Bankman-Fried's pardon request was filed with the DOJ's Pardon Attorney's Office, seeking a "pardon after completion of sentence." He submitted it from a low-security federal prison in California while his conviction and sentence appeal is pending before the federal appeals court in New York. When asked if he wanted a pardon from the White House, Bankman-Fried said, "Absolutely. It would be obviously, you know, ultimately up to the President, not up to me."
Pardon strategy
Spent over a year preparing for the pardon request
Bankman-Fried has spent over a year preparing for the pardon request. In early 2025, he gave an interview from prison to political commentator Tucker Carlson where he said he didn't see himself as a criminal and supported Republican views. He called his prosecution "Biden's lawfare machine." The interview was aired without Bureau of Prisons approval. Afterward, Bankman-Fried was put in solitary confinement at Brooklyn's Metropolitan Detention Center.
Trial rejection
Motion for new trial rejected in April
In April, Bankman-Fried's motion for a new trial was rejected. He had claimed that new evidence would show the Chapter 11 filing destroyed hidden liquidity sources that could have made customers whole. However, Judge Lewis Kaplan dismissed the claims as baseless and noted they seemed aimed at improving Bankman-Fried's public image rather than presenting a valid legal basis for retrial.