Trump Rules Out Pardon for FTX Founder Sam Bankman-Fried: NYT
Trump was responding to a reporter who also asked about pardon requests for other high-profile figures, including Sean “Diddy” Combs.
#Ripple1BXRPReserve In brief
President Trump has ruled out a pardon for disgraced FTX founder Sam Bankman-Fried
Bankman-Fried was convicted on fraud and conspiracy charges tied to the misuse of billions in customer funds and was sentenced to 25 years in prison.
The decision contrasts with Trump’s earlier clemency for other crypto-linked figures, including Silk Road founder Ross Ulbricht and executives tied to BitMEX and Binance.
President Donald Trump ruled out a pardon for FTX co-founder Sam Bankman-Fried on Thursday, seemingly drawing a line between his crypto-friendly agenda and the industry’s most infamous fraud case.
Trump was responding to questioning from a New York Times reporter who also asked about pardon requests for several high-profile figures, including Sean “Diddy” Combs.
A jury convicted Bankman-Fried in November 2023 on multiple fraud and conspiracy counts tied to the misappropriation of billions in FTX customer funds. He was sentenced in March 2024 to 25 years in prison and has since appealed both his conviction and sentence.
Bankman-Fried’s parents reportedly began exploring ways to secure his pardon, roughly nine months later in January of last year, through several meetings with lawyers and others considered to have the President's ear.
That same month, Trump pardoned Ross Ulbricht, the founder of the Silk Road darknet marketplace, who had been serving a life sentence since 2015.
Trump exercised his presidential powers to provide clemency for other notable crypto industry figures on multiple occasions in 2025, including BitMEX’s co-founders and Binance founder Changpeng “CZ” Zhao.