Bankman‑Fried files for Trump pardon during 25‑year sentence

Sam Bankman‑Fried has filed an application for a presidential pardon through the Justice Department’s Office of the Pardon Attorney portal while serving a 25‑year federal sentence for fraud tied to the collapse of FTX and Alameda Research.

A jury convicted Bankman‑Fried in November 2023 on seven counts, including fraud, conspiracy and money laundering. U.S. District Judge Lewis Kaplan sentenced him on March 28, 2024 to 25 years in prison and ordered roughly $11 billion in forfeiture. Prosecutors said the fraud involved more than $8 billion in customer losses. Bankman‑Fried has maintained his innocence, describing the FTX collapse as a liquidity crisis rather than insolvency.

The pardon filing follows months of public and legal efforts by Bankman‑Fried and his family. His parents retained lawyers with ties to President Trump’s network beginning in early 2025. Bankman‑Fried has posted on X and gave a prison interview as part of a broader campaign to press for clemency.

President Trump publicly rejected clemency for Bankman‑Fried in January 2026. White House officials have reiterated that position. A Republican lawmaker described him as ‘a piece of s–t’ and judged him unfit for mercy. Some members of Congress who support cryptocurrency interests have also voiced opposition to clemency in this case.

The Department of Justice will process the application according to standard procedures at the Office of the Pardon Attorney. The president may act independently of that office’s recommendations. Appeals of Bankman‑Fried’s conviction remain pending in the courts.

Bankruptcy proceedings tied to FTX have returned funds to creditors. A fourth distribution in March 2026 sent $2.2 billion to claimants, and many U.S. customer classes reached full recovery or received between 100% and 120% of allowed claims based on the November 2022 petition values. Those distributions followed earlier recoveries and sales of assets from the bankruptcy estate.

Prediction markets have placed low odds on a pardon in 2026, with one market showing about a 7% chance. Other individuals in the cryptocurrency sector have received presidential clemency in recent years. As of June 2026, there is no public indication the White House will change its stance on Bankman‑Fried’s case.