President Trump Declines Pardon for Sam Bankman-Fried

President Donald Trump has confirmed that he will not grant a pardon to Sam Bankman-Fried, the convicted founder of FTX. This decision comes amidst Bankman-Fried's ongoing appeals against his conviction, which include serious charges related to the misuse of customer funds.

Key Takeaways

President Trump has stated there will be no pardon for Sam Bankman-Fried, who was convicted of fraud.
Bankman-Fried was sentenced to 25 years in prison after a jury found him guilty of serious financial crimes.
While Trump has previously shown a willingness to pardon other figures linked to cryptocurrency, he has distinguished Bankman-Fried's case as different due to the impact of his actions on investors.
Bankman-Fried’s only option remaining is to continue appealing his conviction.

Bankman-Fried

Trump's Firm Stance on Pardon

In a recent interview with The New York Times, President Trump addressed the issue of clemency in relation to various high-profile individuals, explicitly stating he will not consider a pardon for Sam Bankman-Fried. This comes as the FTX founder continues to contest his conviction and seeks potential political remedies.

Bankman-Fried was found guilty in November 2023 on multiple counts of fraud and conspiracy, with a jury confirming that he misused billions from customer funds. In March 2024, he received a 25-year prison sentence, for which he is currently pursuing an appeal.

Despite the speculation around potential clemency, Bloomberg reported in January 2025 that Bankman-Fried's parents, both law professors at Stanford, attempted to initiate clemency discussions by connecting with lawyers and individuals within Trump's sphere.

Trump's History with Crypto Pardons

Trump's refusal to pardon Bankman-Fried is notable given his past actions regarding individuals linked to cryptocurrencies. In January 2025, he granted a pardon to Ross Ulbricht, the founder of Silk Road, which was positively received by sections of the libertarian and Bitcoin communities.

He also pardoned the co-founders of BitMEX—Arthur Hayes, Benjamin Delo, and Samuel Reed—following their convictions related to the Bank Secrecy Act. Furthermore, Trump pardoned Binance's founder, Changpeng “CZ” Zhao, on October 23, which attracted criticism due to Binance’s contentious enforcement history.

White House Press Secretary Karoline Leavitt subsequently explained that Trump utilized his constitutional authority to grant these pardons, indicating that Zhao had faced prosecution under the Biden Administration's alleged "war on cryptocurrency."

Why Bankman-Fried's Case Is Different

For many investors, the circumstances surrounding Bankman-Fried's case are viewed through a different lens compared to other crypto-related legal matters. Unlike regulatory skirmishes, Bankman-Fried's actions led to a significant collapse that adversely affected many customers and investors throughout the industry.

During the same interview, Trump reaffirmed his support for digital assets, noting that his favorable stance on crypto helped him secure a considerable number of votes. “China wanted it, and one of us was going to get it,” Trump remarked, emphasizing the geopolitical significance of cryptocurrency.

As it stands, Bankman-Fried’s path to potential relief runs solely through the court system, and with Trump’s recent comments, it appears that any hopes for clemency from the White House are dashed.