Sam Bankman-Fried Formally Seeks Trump Pardon Amid FTX Appeal

Sam Bankman-Fried, the disgraced founder of the now-defunct crypto exchange FTX, has formally sought a presidential pardon from former President Donald Trump, even as he appeals his recent conviction and a 25-year prison sentence. This move signals a persistent effort by Bankman-Fried to reduce his time behind bars following the dramatic collapse of his crypto empire.

Formal Clemency Bid and Ongoing Appeal

Bankman-Fried has officially filed a clemency petition with the U.S. Department of Justice's Office of the Pardon Attorney. This application is currently listed as pending in DOJ records. In a recent phone interview from prison with FOX Business correspondent Susan Li, Bankman-Fried explicitly confirmed his desire for a pardon from the White House. This formal request comes despite former President Donald Trump previously indicating he would not grant clemency to the convicted executive. Bankman-Fried is simultaneously pursuing an appeal of his conviction and sentence.

The FTX Collapse and Conviction

Bankman-Fried was sentenced on March 28, 2024, to 25 years in federal prison after a New York jury found him guilty on all seven criminal counts in November 2023. These charges included two counts of wire fraud and five counts of conspiracy. Prosecutors successfully argued that he misappropriated billions of dollars in customer deposits to fund risky ventures at his associated hedge fund, Alameda Research, alongside making political donations and real estate purchases. The court determined that FTX customers suffered $8 billion in losses, equity investors in FTX lost $1.7 billion, and lenders to Alameda Research incurred $1.3 billion in damages. Judge Lewis Kaplan subsequently ordered an $11 billion forfeiture.

Despite the clear verdict, Bankman-Fried continues to dispute the characterization of his actions as theft. He claimed in the interview that customers have been repaid