Sam Bankman Fried has formally applied for a presidential pardon from U.S. President Donald Trump while continuing his legal fight to overturn his fraud conviction and 25 year prison sentence.
Key Takeaways
- Sam Bankman Fried has submitted a formal presidential pardon request through the U.S. Department of Justice.
- The former FTX CEO is serving a 25 year prison sentence after being convicted on seven fraud and conspiracy charges.
- Trump has previously stated that he has no intention of granting Bankman Fried a pardon.
- Bankman Fried’s appeal remains active after recent attempts to secure a new trial were rejected.
What Happened?
Former FTX chief executive Sam Bankman Fried has officially filed a request for presidential clemency, according to records from the U.S. Department of Justice Office of the Pardon Attorney. The filing, listed as a request for a “pardon after completion of sentence,” comes as the convicted crypto entrepreneur continues pursuing an appeal against his conviction.
The move marks the latest step in Bankman Fried’s effort to regain his freedom following the collapse of FTX, one of the largest failures in crypto industry history.
BANKMAN-FRIED SEEKS TRUMP PARDON AFTER FTX COLLAPSE
— *Walter Bloomberg (@DeItaone) June 8, 2026
FTX co-founder Sam Bankman-Fried has formally applied for a presidential pardon after his 2024 conviction for fraud tied to the $10 billion collapse of FTX. He submitted the request to the Justice Department’s Pardon Attorney… pic.twitter.com/BL0gErce7g
Formal Pardon Request Filed
The clemency application was submitted through the Justice Department’s pardon process and is currently listed as pending. While the exact filing date remains unclear, Department of Justice records indicate the application was submitted in 2026.
The request arrives despite President Trump previously signaling that he does not intend to pardon the former crypto executive. In a January interview with The New York Times, Trump named Bankman Fried among several high profile individuals he had no plans to grant clemency.
A White House spokesperson recently reiterated that position, referring reporters back to Trump’s earlier comments.
Public Campaign for Clemency
The formal application follows months of public efforts by Bankman Fried to gain favor with the Trump administration.
According to reports, the former FTX founder has used social media posts to praise Trump’s economic policies, support deregulation efforts, and encourage international crypto companies to expand operations in the United States.
During a prison phone interview with FOX Business correspondent Susan Li, Bankman Fried openly acknowledged his desire for a pardon.
“Absolutely,” he said when asked whether he wanted presidential clemency.
He added, “It would be obviously, you know, ultimately up to the president, not up to me.”
Bankman Fried declined to comment on whether family members or others were lobbying the administration on his behalf.
Appeal Remains Active After Court Setbacks
While seeking a pardon, Bankman Fried continues to challenge his conviction through the federal appeals process.
The former executive was convicted in November 2023 on seven felony charges, including fraud and conspiracy. Prosecutors successfully argued that billions of dollars in customer funds were improperly diverted from FTX to its affiliated trading firm, Alameda Research.
Judge Lewis Kaplan later sentenced him to 25 years in federal prison.
Earlier this year, Bankman Fried attempted to secure a new trial through a Rule 33 motion. However, the effort was ultimately unsuccessful. Judge Kaplan ruled that the witnesses and evidence cited by the defense were not newly discovered and could have been presented during the original trial.
Federal prosecutors also argued that the defense failed to identify any genuinely new evidence that would justify reopening the case.
Although the retrial effort has been closed, Bankman Fried’s appeal before the U.S. Court of Appeals for the Second Circuit remains active. If unsuccessful there, he could seek review from the U.S. Supreme Court.
Family Support and Limited Political Backing
Bankman Fried’s parents, Stanford law professors Joseph Bankman and Barbara Fried, have publicly defended their son and criticized aspects of the government’s case.
They have argued that the judgment was unfair and questioned how FTX’s conduct was characterized during the prosecution. Bankman Fried himself has repeatedly denied wrongdoing.
“I didn’t steal user funds either,” he said during his interview with FOX Business.
He also pointed to customer repayments through the bankruptcy process, claiming many customers have recovered more than their original deposits.
Despite those arguments, political support for a pardon remains limited. Senator Cynthia Lummis previously said she hoped Trump would not pardon Bankman Fried, citing the harm caused to customers and investors.
Prediction markets also remain skeptical. Recent data showed traders assigning relatively low odds to a successful pardon request.
CoinLaw’s Takeaway
In my experience, the pardon request appears more like a long shot legal strategy than a realistic path to freedom. While Sam Bankman Fried continues to maintain his innocence and pursue appeals, the White House has repeatedly signaled that clemency is not currently under consideration. I found it notable that his legal team is still focusing heavily on the appeals process, which may ultimately offer a more viable route than a presidential pardon. For now, the outcome of the Second Circuit appeal could be the most important development in his ongoing legal battle.
