Sam Bankman-Fried files formal Trump pardon request

Former FTX CEO Sam Bankman-Fried has formally applied for a presidential pardon from US President Donald Trump, seeking clemency after being convicted of fraud over the crypto exchange’s multibillion-dollar collapse in 2022.

Bankman-Fried’s application appeared on the US Department of Justice Office of the Pardon Attorney website, which lists pending clemency requests as of June 1. The filing is categorized as a “pardon after completion of sentence.”

The request comes as the former FTX executive continues to appeal his 2023 fraud conviction and 25-year prison sentence.

Sam Bankman-Fried’s pardon request. Source: Office of the Pardon Attorney

In recent months, he has also posted a series of social media messages that appear increasingly aligned with President Trump, including comments highlighting the S&P 500 index’s continued gains during Trump’s second term.

Source: Sam Bankman-Fried

Asked in a January New York Times interview if he would pardon Bankman-Fried, Trump said "No, I don't plan to."

The pardon application follows a separate legal effort launched months ago by Bankman-Fried seeking a new trial, arguing that newly available witness testimony could undermine key aspects of the government’s case.

In a motion filed in Manhattan federal court, Bankman-Fried sought a new trial in addition to his ongoing appeal. The request was later denied by Judge Lewis Kaplan, who oversaw the convicted executive's 2023 criminal trial.

Related: Sam Bankman-Fried ramps up Trump support following Ellison’s release

Pardon bid adds another front to Bankman-Fried’s legal fight

In November 2023, a jury convicted Sam Bankman-Fried on seven counts of fraud, conspiracy and money laundering for orchestrating the misuse of customer funds at FTX and its affiliated trading firm, Alameda Research.

The prosecution followed FTX’s dramatic collapse a year earlier and is widely regarded as one of the largest financial fraud cases in the cryptocurrency industry’s history. Bankman-Fried has consistently denied committing criminal fraud.

Other senior FTX executives also received prison sentences after cooperating with prosecutors or pleading guilty. 

Ryan Salame, who worked at Alameda Research before serving as co-CEO of FTX Digital Markets, the exchange’s Bahamian affiliate, was sentenced to 90 months in prison after pleading guilty to conspiracy to make unlawful political contributions and conspiracy to operate an unlicensed money-transmitting business.

Caroline Ellison, the former CEO of Alameda Research and a key government witness at Bankman-Fried’s trial, was sentenced to two years in prison. Prosecutors credited her extensive cooperation with the government, which contributed to a significantly lighter sentence than those sought for other FTX executives.

She was released in January. The US Securities and Exchange Commission (SEC) issued a 10-year prohibition against Ellison serving in any executive positions at any publicly traded firm or any digital asset exchange.

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