U.S. President Donald Trump reportedly does not plan to pardon former FTX CEO Sam Bankman-Fried (SBF). SBF likely counted on a pardon from Trump amid the wave of pardons since his return to office.
In the first year after returning to office, hundreds of people received clemency or pardons from Trump. This includes several well-known figures from the cryptocurrency industry.
Pardon from Trump? Sam Bankman-Fried is unlikely to receive it
In a recent interview with The New York Times, President Donald Trump made it clear that a presidential pardon for Bankman-Fried is unlikely. The president also referred to several well-known cases in which he has no intention of granting a pardon.
They include former New Jersey senator Robert Menendez, Venezuela's leader Nicolás Maduro, and rapper Sean “Diddy” Combs.
Bankman-Fried was sentenced to 25 years in prison after being convicted of multiple frauds and a conspiracy related to the collapse of the FTX exchange. Despite the conviction, efforts for clemency continued.
In January, Bloomberg reported that his parents had begun efforts to seek clemency from Trump. The former FTX CEO renewed these efforts in February 2025 during his first interview from prison for The New York Sun. SBF stated:
"I saw myself back then as something of a centrist, and I no longer see myself that way. Up until 2022, I spent a lot of time in Washington, working with lawmakers, regulators, and the executive branch. I became really frustrated and disillusioned with what I saw in the Biden administration and the Democratic Party. Especially in terms of cryptocurrency policy, the Biden administration was simply incredibly destructive and difficult to work with. I think my case fits into this broader context."
Bankman-Fried has also filed an appeal to overturn his 25-year sentence. He is currently serving his sentence in a high-security prison near Los Angeles. SBF is eligible for release in October 2044.
Cryptocurrency clemency in the spotlight
While Bankman-Fried's hopes for clemency were dashed, Trump signaled openness to clemency in other cryptocurrency-related cases. The president recently said he would 'look into' the case of Keonne Rodriguez, CEO of Samourai Wallet.
It's worth noting that Trump issued three high-profile clemencies related to cryptocurrency in 2025:
Ross Ulbricht, founder of Silk Road, was granted clemency in January 2025.
In March, Trump also granted clemency to co-founders of BitMEX, Arthur Hayes, Benjamin Delo, and Samuel Reed. Additionally, he granted clemency to Gregory Dwyer, former head of business development.
Finally, the October 2025 presidential clemency cleared Binance founder Changpeng Zhao (CZ) of his 2023 conviction.
Zhao's clemency sparked significant criticism from some industry executives and regulatory bodies. Seven Senate Democrats called for an investigation into the decision. Lawmakers, including Elizabeth Warren and Bernie Sanders, questioned whether Trump-backed World Liberty Financial and its reports on ties to Binance played any role in this decision.
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