White House · Donald Trump · Democrats · Fortune Technology
Sam Bankman-Fried formally files for pardon—but White House reiterates that FTX cofounder’s odds are slim
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Convicted crypto fraudster Sam Bankman-Fried formally submitted a pardon request with the Department of Justice, but the odds of President Donald Trump granting him clemency remain slight, according to a White House spokesperson.
Key facts
- In 2023, Bankman-Fried was convicted of fraud and later sentenced to 25 years in prison for orchestrating one of the largest financial crimes in history, secretly diverting billions in customer funds
- Convicted crypto fraudster Sam Bankman-Fried formally submitted a pardon request with the Department of Justice, but the odds of President Donald Trump granting him clemency remain slight, according
- Bankman-Fried’s clemency bid comes amid a wave of pardons that Trump has doled out to not only high-profile crypto figures—among them Binance founder Changpeng Zhao and Silk Road creator Ross
- Following his own conviction for stealing money from his clients, Michael Avenatti, who represented adult film star Stormy Daniels in a lawsuit against Trump, shared a cell with Bankman-Fried
Summary
The FTX cofounder’s petition follows reports that his parents were engaging with individuals connected to Trump’s inner circle to curry the president’s favor—a notable pivot for the onetime crypto billionaire, who was briefly one of the largest donors to Democrats. A White House spokesperson pointed Fortune to remarks made by Trump in January, in which the President said he had no plans to pardon Bankman-Fried, among other high-profile figures, including ousted Venezuelan leader Nicolás Maduro and former New Jersey Senator Robert Menendez. The Department of Justice did not immediately respond to a request for comment.