Sam Bankman-Fried requests a pardon for Trump while in prison.

      Sam Bankman-Fried has officially requested a presidential pardon while serving a 25-year sentence in federal prison for FTX fraud. Donald Trump has previously stated he has "no intention" of granting such a pardon.

      According to records from the US Department of Justice Office of the Pardon Attorney, Bankman-Fried's application, categorized as a “pardon after completion of sentence,” was submitted in 2026 and is currently under consideration.

      At 34 years old, Bankman-Fried is incarcerated at the Federal Correctional Institution in Hazelton, West Virginia, following his conviction in November 2023 on seven counts of fraud and conspiracy. A jury determined that he had masterminded the misappropriation of billions of dollars in customer funds from FTX, the cryptocurrency exchange he co-founded, along with its partner trading firm, Alameda Research.

      In a January interview with The New York Times, Trump indicated he has "no intention of pardoning" Bankman-Fried, listing him with other high-profile individuals whose pardon requests he plans to deny. While this statement is not legally binding and Trump has previously changed his stance regarding pardons, the political landscape is unfavorable: Bankman-Fried was the second-largest individual donor to Democratic causes during the 2022 midterm elections, contributing over $40 million to political action committees and candidates aligned with the Democratic Party.

      Bankman-Fried expressed his desire for clemency during a recent interview with Fox Business from prison. His parents, Joseph Bankman and Barbara Fried, both professors at Stanford Law School, have sought to connect with people in Trump's circle to discuss a potential pardon, as reported by The New York Times. The formal application submitted to the DOJ’s Pardon Attorney Office operates separately from any informal lobbying efforts. This office assesses applications and makes recommendations to the president, who ultimately has exclusive authority to grant clemency.

      FTX declared bankruptcy in November 2022 when it became apparent that customer deposits had been diverted to Alameda Research to cover trading losses and finance personal investments. The collapse resulted in an estimated loss of $8 billion in customer funds and ignited a crisis within the cryptocurrency sector.

      Bankman-Fried's trial spanned approximately a month. Three of his former close associates, including Alameda CEO Caroline Ellison and FTX co-founder Gary Wang, pleaded guilty and testified against him, with Ellison receiving a two-year sentence while Wang did not face any prison time.

      The pardon request represents a significant test of how the Trump administration might address financial crimes related to the cryptocurrency industry. Trump has positioned himself as pro-crypto, having signed executive orders aimed at creating a national Bitcoin reserve and reducing regulatory burdens on digital assets. However, granting clemency to the architect of the largest fraud in crypto history would signal a message beyond just the realm of digital currencies. It would indicate to founders, investors, and regulators that the repercussions of misappropriating customer funds can potentially be overturned with the right political connections. Trump's "no intention" remark suggests he recognizes this potential risk, but whether it will be upheld remains uncertain.

      Published June 8, 2026 - 7:12 pm UTC