Sam Bankman-Fried seeks presidential pardon from Trump as convicted FTX founder serves 25-year prison sentence

The convicted FTX founder Sam Bankman-Fried is making a long-shot bid for freedom.

Bankman-Fried has formally submitted a request for a presidential pardon to President Donald Trump, according to records listed on the U.S. Department of Justice Office of the Pardon Attorney website. The filing marks the latest chapter in the downfall of the former crypto billionaire, who is serving a 25-year federal prison sentence after his conviction in one of the largest financial fraud cases in the history of the cryptocurrency industry.

DOJ records show the request for a “pardon after completion of sentence” is currently pending. The exact date of the filing is unclear, though the submission appears in records from 2026, CNBC reported.

The pardon request arrives nearly three years after a federal jury found Bankman-Fried guilty of orchestrating a scheme that misused billions of dollars in customer funds from FTX, the cryptocurrency exchange he co-founded. TechStartups last covered Sam Bankman-Fried in March 2024, when the FTX founder was sentenced to 25 years in prison for crypto fraud and ordered to forfeit more than $11 billion.

Prosecutors said customer deposits were funneled to Alameda Research, FTX’s affiliated trading firm, where the funds were used to cover losses, fund investments, make political donations, and pay other expenses.

At its peak, FTX was one of the largest cryptocurrency exchanges in the world, and Bankman-Fried was celebrated as one of the industry’s most influential figures. That image unraveled in November 2022 after reports exposed a hole in FTX’s balance sheet, triggering a collapse that wiped out billions in customer assets and sent shockwaves through the crypto sector.

The filing faces steep odds.

In a January interview with the New York Times, President Trump said he has “no intention of pardoning” several high-profile individuals, including Bankman-Fried. The statement offers an early indication of how the White House may view any clemency request tied to the former FTX executive.

Trump has issued 147 pardons and commutations during his second term, according to Department of Justice records. Those actions include pardons and commutations connected to Jan. 6-related cases. During his first term, Trump granted 238 pardons and commutations.

The White House declined to comment on Bankman-Fried’s request. The Justice Department did not respond to a request for comment.

For now, the application remains under review, leaving one of crypto’s most notorious figures waiting to learn whether a presidential pardon remains out of reach or becomes his next legal lifeline.