Founder of Collapsed Exchange Seeks Trump Pardon

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, has officially requested a presidential pardon from President Donald Trump. The application was submitted to the Office of the Pardon Attorney within the U.S. Department of Justice, which is responsible for reviewing clemency requests.

For those unfamiliar with the case, Bankman-Fried, commonly known in the crypto industry as SBF, created the cryptocurrency exchange FTX. The company collapsed dramatically in November 2022 after financial irregularities and its close ties to trading firm Alameda Research came to light. According to court findings, FTX customers lost approximately $8 billion, investors lost $1.7 billion, and Alameda’s lenders suffered losses of $1.3 billion.

In March 2024, Bankman-Fried was sentenced to 25 years in prison. A jury found him guilty on all seven criminal counts, including fraud and conspiracy charges. Prosecutors successfully argued that he used billions of dollars belonging to FTX customers to finance risky investments made by Alameda Research, as well as political donations and real estate purchases.

Despite the conviction, the former FTX chief has not given up on his efforts to regain his freedom. His pardon request is currently pending review. At the same time, he is also seeking to overturn his conviction through the appeals process.

During a phone interview with FOX Business journalist Susan Li—his first interview from prison—Bankman-Fried acknowledged that he hopes Trump will intervene. When asked whether he would like to receive a pardon from the White House, he replied: “Absolutely.”

Bankman-Fried’s request comes at a time when discussions about a potential wave of presidential pardons are gaining momentum in Washington ahead of celebrations marking the 250th anniversary of the United States. According to reports from U.S. media outlets, the Trump administration is considering granting as many as 250 pardons, potentially to be announced on July 4, Independence Day. While the White House has not confirmed such plans, speculation about large-scale clemency measures has prompted many convicted individuals to publicly seek presidential mercy. Sam Bankman-Fried is now among them.