WASHINGTON (Diya TV) — Former FTX CEO Sam Bankman-Fried has formally applied for a presidential pardon, seeking relief from President Donald Trump more than two years after his conviction in one of the largest financial fraud cases in U.S. history.
The 34-year-old cryptocurrency entrepreneur submitted a request to the Justice Department’s Office of the Pardon Attorney. Public records show he applied for a “pardon after completion of sentence,” a form of clemency that would forgive his federal convictions after he serves his prison term. Bankman-Fried is currently serving a 25-year prison sentence after a jury found him guilty in 2023 of orchestrating a massive fraud that contributed to the collapse of cryptocurrency exchange FTX. Prosecutors said the scheme cost customers, investors, and lenders billions of dollars.
The pardon application marks the latest effort by Bankman-Fried to overturn or reduce the impact of his conviction. In a recent interview with Fox Business, Bankman-Fried said he “absolutely” wants a presidential pardon. He added that any decision would ultimately rest with Trump. The former billionaire has also increased his public presence in recent months. From prison, he has participated in media interviews and used social media to comment on political issues. Some posts on his X account have praised actions taken by the Trump administration.
Despite those efforts, Trump previously indicated that he was not considering a pardon for the former crypto executive. In an interview with The New York Times earlier this year, Trump said he had no plans to grant clemency to Bankman-Fried. The White House declined to comment on the latest application. The Justice Department also declined to comment.
At the same time, Bankman-Fried continues to challenge his conviction through the courts. A federal appeals court in New York is reviewing his request to overturn both his conviction and sentence. He has consistently maintained his innocence and argued that legal errors affected his case. A ruling from the appeals court could come at any time.
Legal experts note that a pardon and an appeal are separate processes. While an appeal seeks to reverse a conviction, a pardon forgives the crime but does not erase the historical record of the conviction. Bankman-Fried’s current application specifically requests a pardon after completion of the sentence. He has not sought a commutation, which would reduce the length of his prison term.
Bankman-Fried rose to prominence during the cryptocurrency boom. He founded FTX, which quickly became one of the world’s largest crypto exchanges and attracted millions of users. His reputation as a successful entrepreneur made him one of the most recognizable figures in the digital asset industry. He also became a major political donor and frequently appeared before lawmakers and the media. That success came to a sudden end in 2022 when FTX collapsed.
Prosecutors accused Bankman-Fried of improperly using customer funds to cover losses and debts at Alameda Research, a cryptocurrency trading firm closely linked to FTX. The company’s downfall triggered widespread losses across the crypto market and raised concerns about oversight in the industry. Following a high-profile trial, a federal jury convicted him on multiple fraud-related charges. In 2024, a judge sentenced him to 25 years in prison.
Bankman-Fried’s request arrives as Trump’s use of presidential pardon powers continues to attract public attention. During his second term, Trump has granted clemency to several high-profile individuals, including some white-collar defendants and figures connected to the cryptocurrency industry. However, the path to a pardon remains uncertain. More than 20,000 pardon and commutation requests are currently listed with the Office of the Pardon Attorney, making the process highly competitive.
For now, Bankman-Fried remains incarcerated at a low-security federal prison in California while awaiting the outcome of both his appeal and his pardon request.
