Sam Bankman-Fried has officially reached out to President Trump, hoping for a pardon.
This once prominent FTX founder, who was a significant backer of the Democratic Party, submitted a request for a presidential pardon more than two years after his conviction tied to the sweeping downfall of his cryptocurrency business, as reported by Bloomberg News.
Bankman-Fried, 34, has applied through the Justice Department’s Office of Pardon Counsel for what is being described as a “post-sentence pardon.”
This is perhaps the clearest sign that he is actively seeking a pardon after spending time publicly engaging with conservative figures and praising Trump while serving a 25-year prison sentence.
In March 2024, he received his sentence after a jury found him guilty of masterminding a significant fraud related to FTX, which was once a leading cryptocurrency exchange.
Federal prosecutors accused him of misappropriating billions from customers, lenders, and investors, using the funds to cover losses at his hedge fund Alameda Research and to support a lavish lifestyle, among other things.
However, Bankman-Fried’s pardon application comes despite Trump’s earlier comments indicating that he had no intention of pardoning any ousted crypto executives.
Last January, CBS News mentioned that Bankman-Fried’s parents were exploring ways to secure a pardon for their son.
Success for this effort appears uncertain, despite Bankman-Fried’s attempts to highlight his admiration for Trump while alleging that the Biden administration was politically targeting him.
Senator Bernie Moreno (R-Ohio) bluntly remarked, “This guy is terrible,” when asked about the possibility of a pardon, adding, “That man should not be forgiven. This man should be in prison for a long time.”
Neither the White House press secretary nor Bankman-Fried has responded to requests for comments.
This endeavor for a pardon represents a significant shift for someone who was one of the key donors in Democratic politics during the 2020 and 2022 election cycles.
Before the collapse of FTX in November 2022, he was deeply embedded in political circles in Washington, donating millions to Democratic candidates, party committees, and progressive groups.
He was a major supporter of the Democratic super PAC Protect Our Future, which focused on congressional primaries and contributed over $5 million in 2020 to groups backing then-candidate Joe Biden.
He also financially supported various Democratic committees and state organizations, building connections with lawmakers and regulators.
Bankman-Fried’s mother, Barbara Fried, played a role in establishing Mind the Gap, a significant Democratic donor network that influenced fundraising efforts in progressive circles.
His younger brother, Gabriel Bankman-Fried, was actively involved with lawmakers and policy groups, advocating for pandemic preparedness.
Following FTX’s downfall, allegations emerged that more than $100 million in political donations were funded with misappropriated customer funds, funneled through straw donors to sway politicians from various parties.
Despite maintaining a public alignment with Democratic causes, Bankman-Fried later stated that he made substantial donations to Republicans, typically through less visible channels.
As he attempts to overturn his conviction, the former billionaire is increasingly seeking alliances with conservative media figures and Trump supporters for support.
