The Pardon Request
Sam Bankman-Fried, the former cryptocurrency mogul sent to federal prison over stealing $8 billion from his customers, has asked President Donald Trump for a pardon that would restore civil liberties upon completing his prison sentence, public records show.
Bankman-Fried, 34, has submitted an application for a presidential pardon via the Justice Department’s Pardon Attorney Office, online records show. The records also say Bankman-Fried filed his clemency case application in 2026, though not exactly when.
According to the documents, the pardon Bankman-Fried is seeking would restore civil liberties including the right to vote or serve on a jury upon completion of his sentence.
The FTX Collapse
Bankman-Fried was the founder of FTX, a cryptocurrency exchange that at one point was the third-largest by volume. He became a poster boy for the nascent industry, and celebrities from Tom Brady to Larry David starred in FTX commercials, including at the Super Bowl.
The billionaire wunderkind and his company experienced a spectacular collapse in 2022 after Bankman-Fried was linked to fraud at the company. He spent billions of customer dollars to fund investments, political donations and personal expenses, including real estate. Prosecutors called the case one of the “largest financial frauds in history.” Bankman-Fried was sentenced in 2024 to 25 years in prison.
The Political Context
Bankman-Fried’s move to get a pardon from Trump comes as the president’s administration has taken a friendly stance toward the crypto industry, including supporting the passage of major industry-backed legislation in 2025. Trump and his family are estimated to have made tens of millions of dollars off cryptocurrency businesses since he began his second term in the White House.
A White House spokesperson declined to comment. The Justice Department did not respond to requests for comment.
The president previously indicated he had no intention of pardoning Bankman-Fried, The New York Times reported.
Legal Battles Continue
Applications for a presidential pardon can be made through the Justice Department’s Office of the Pardon Attorney.
Court records out of the Southern District of New York show Bankman-Fried is appealing his case. Bankman-Fried also applied for a retrial, though U.S. District Judge Lewis A. Kaplan denied the application in April after the former crypto mogul missed court deadlines.
Kaplan in a court memo also slammed Bankman-Fried’s application for a new trial as part of a plan he “hatched” in order to “rescue his reputation.”
