Why is Sam Bankman-Fried seeking a presidential pardon from Donald Trump?

Sam Bankman-Fried has formally applied for a presidential pardon while continuing to challenge his fraud conviction and 25-year prison sentence. The former FTX CEO is pursuing multiple legal avenues in an effort to overturn or reduce the consequences of his conviction.

What crimes was Sam Bankman-Fried convicted of?

A jury convicted Bankman-Fried in November 2023 on seven counts, including fraud, conspiracy and money laundering. Prosecutors argued that he orchestrated the misuse of customer funds through FTX and its affiliated trading firm, Alameda Research.

What is a presidential pardon and how could it affect Sam Bankman-Fried?

A presidential pardon is an act of clemency granted by the US president that can forgive federal crimes. If granted, it could reduce or eliminate the legal consequences of Bankman-Fried's conviction, although pardons are discretionary and relatively rare in high-profile financial fraud cases.

Has Donald Trump indicated whether he would pardon Sam Bankman-Fried?

Trump previously told The New York Times that he did not plan to pardon Bankman-Fried. While the application is now formally pending, there is currently no indication that the White House intends to approve the request.

Is Sam Bankman-Fried still appealing his conviction?

Yes. Bankman-Fried continues to appeal both his conviction and sentence. He has consistently maintained that he did not commit criminal fraud and is pursuing multiple legal challenges through the court system.

Did Sam Bankman-Fried recently try to get a new trial?

Yes. Earlier this year, Bankman-Fried requested a new trial, arguing that newly available witness testimony could undermine aspects of the government's case. The request was rejected by Judge Lewis Kaplan.

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Sam Bankman-Fried seeks Trump pardon

Written by Jon CuthbertPublished Jun 9, 2026, 1:04 AM

Former FTX chief executive Sam Bankman-Fried has formally applied for a presidential pardon from US President Donald Trump as he continues efforts to overturn his criminal conviction stemming from the collapse of the cryptocurrency exchange.

The application appeared on the US Department of Justice Office of the Pardon Attorney website, where it is listed as a pending clemency request categorised as a “pardon after completion of sentence.”

Bankman-Fried is currently serving a 25-year prison sentence after a jury convicted him in November 2023 on seven counts including fraud, conspiracy and money laundering related to the misuse of customer funds at FTX and its affiliated trading firm, Alameda Research.

The pardon request marks the latest legal strategy pursued by the former executive, who is simultaneously appealing his conviction and sentence while maintaining that he did not commit criminal fraud.

Earlier this year, Bankman-Fried also sought a new trial, arguing that newly available witness testimony could undermine parts of the government's case, but the request was rejected by Judge Lewis Kaplan, who presided over the original trial.

The filing comes after a series of public comments from Bankman-Fried that appeared increasingly supportive of Trump, although the president told The New York Times in January that he did not plan to grant a pardon.

The FTX collapse remains one of the largest fraud scandals in cryptocurrency history, with several former executives also receiving prison sentences, including former Alameda Research chief executive Caroline Ellison and former FTX Digital Markets co-chief executive Ryan Salame.