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Bankman-Fried files pardon request amid 25-year sentence
Disgraced cryptocurrency mogul Sam Bankman-Fried has formally petitioned for a presidential pardon from Donald Trump, federal records show. The 34-year-old, serving a 25-year term for fraud tied to the collapse of his FTX exchange, submitted the application two years into his sentence.
Legal maneuver follows conviction and appeal
Bankman-Fried was convicted on multiple federal charges after FTX, once a leading crypto platform, imploded in 2022. Prosecutors accused him of misusing customer deposits for personal investments and debt payments. Despite the conviction, he continues to maintain his innocence and is appealing the sentence.
His request seeks a pardon after completion of sentence, which would erase his criminal record but not shorten his prison term. This differs from a commutation, which reduces a sentence already being served.
White House silent as pardon list grows
A White House spokesperson declined to comment on the filing. Bankman-Fried's legal team also did not respond to inquiries. The application joins over 20,000 pending requests for pardons or commutations tracked by the Justice Department's Office of the Pardon Attorney.
Trump's mixed record on crypto-related pardons
During his current term, Trump has granted clemency to figures linked to cryptocurrency, including Binance founder Changpeng Zhao. However, when asked earlier this year about pardoning Bankman-Fried, Trump indicated he would not.
The former president has also issued pardons to hundreds of individuals connected to the January 6 Capitol riot, as well as former aides and other high-profile defendants.
FTX collapse reverberates in crypto industry
Bankman-Fried rose to prominence as the public face of FTX, which at its peak served millions of users. The exchange's downfall in 2022 sent shockwaves through financial markets, exposing alleged misuse of billions in customer funds. The case remains one of the most high-profile fraud scandals in the digital asset sector.
