Sam Bankman-Fried (SBF), the founder of collapsed cryptocurrency exchange FTX, has formally applied for a presidential pardon from U.S. President Donald Trump, according to records from the U.S. Department of Justice’s Office of the Pardon Attorney. The application is currently listed as pending review.
The development marks the latest chapter in one of the most significant scandals in cryptocurrency history. Bankman-Fried is currently serving a 25-year prison sentence after being convicted on multiple counts of fraud, conspiracy, and money laundering related to the multibillion-dollar collapse of FTX and its sister trading firm, Alameda Research. Prosecutors argued that billions of dollars in customer funds were improperly diverted to cover losses, investments, political donations, and luxury spending.
According to recent reports, the 34-year-old crypto entrepreneur submitted a request for a “pardon after completion of sentence,” a form of clemency that, if granted, could restore certain civil rights and remove the legal consequences of his conviction. The application comes as Bankman-Fried continues efforts to overturn his conviction through ongoing appeals.
Reports suggest that Bankman-Fried has spent months attempting to improve his standing among conservative political circles and has publicly expressed support for some Trump administration policies. He has also reportedly enlisted political allies with connections to the White House to assist in his clemency efforts.
Despite the application, President Trump has previously stated that he has no plans to pardon Bankman-Fried. Earlier this year, White House officials also indicated that clemency for the former FTX executive was not under consideration. However, observers note that Trump has granted pardons to several high-profile figures during his second term, including individuals from the cryptocurrency industry, leaving the door technically open for future consideration.
The pardon request is likely to reignite debate within the crypto industry. While some supporters argue that FTX customers are recovering a significant portion of their funds through bankruptcy proceedings, critics maintain that Bankman-Fried’s actions severely damaged public trust in the digital asset sector and contributed to increased regulatory scrutiny worldwide.
FTX’s collapse in November 2022 wiped out billions of dollars in market value, triggered a wave of bankruptcies across the digital asset industry, and remains one of the most consequential events in crypto history. The outcome of Bankman-Fried’s pardon application will be closely watched by the global blockchain and cryptocurrency community in the months ahead.
What Happens Next?
The U.S. Department of Justice’s Office of the Pardon Attorney will review the application before making recommendations. Ultimately, the decision rests solely with President Trump, who can approve or reject the request at his discretion. Until then, Sam Bankman-Fried remains incarcerated while pursuing both his appeal and clemency efforts.
CoinNewsExtra Editorial Note: The filing of a pardon application does not indicate approval or endorsement by the White House. As of publication, no pardon has been granted to Sam Bankman-Fried.
