Speculation regarding a potential presidential pardon for Sam Bankman-Fried, the disgraced former CEO and co-founder of crypto exchange FTX, intensified since former Binance CEO Changpeng Zhao received clemency from President Donald Trump last year.
However, a recent report by The New York Times indicates that Trump has firmly rejected the idea of pardoning Bankman-Fried, alongside other high-profile figures.
No Clemency For FTX Co-Founder
When questioned about the possibility of issuing presidential pardons for individuals such as Sean Combs, Nicolas Maduro, and Bankman-Fried, Trump made it clear that he had no intentions of granting clemency to these individuals.
This news comes as the former crypto mogul continues to seek relief from his 25-year sentence for one of the largest financial frauds in modern history.
Bankman-Fried’s parents are reportedly working behind the scenes to lobby for a reduction in their son’s sentence. Despite these efforts, the extensive fallout from FTX’s collapse appears to have swayed Trump’s thinking against issuing a pardon.
In November 2023, Bankman-Fried was convicted on seven criminal counts, including fraud and conspiracy, resulting in a 25-year prison sentence and a mandate to repay $11 billion to FTX customers.
His legal team stated back in November 2025 that their client had been “unfairly convicted,” claiming he was denied a fair opportunity to defend himself amid intense media scrutiny and prosecutorial pressure.
“Sam Bankman-Fried was never presumed innocent,” they argued in their appeal. “He was presumed guilty—before he was even charged.”
Bankman-Fried Pursues Legal Remedies
The situation drew further comparisons to Zhao’s case when, on October 23, the White House announced Trump had pardoned the Binance co-founder, who had previously pleaded guilty to charges two years earlier.
White House Press Secretary Karoline Leavitt remarked that the President was exercising his constitutional authority in pardoning Zhao, who faced prosecution by the Biden Administration amidst its regulatory actions against cryptocurrency.
However, the circumstances surrounding FTX’s dramatic collapse suggest that a pardon for the former FTX CEO is unlikely at this time. As it stands, Bankman-Fried remains focused on his legal options.
Featured image from Forbes, chart from TradingView.com
