Trump Dismisses Pardon For FTX’s Sam Bankman-Fried Amid Lobbying Efforts

bitcoinistPublished on 2026-01-09Last updated on 2026-01-09

Abstract

Speculation about a potential presidential pardon for Sam Bankman-Fried, the former FTX CEO convicted of fraud and conspiracy, has been dismissed by Donald Trump. Despite lobbying efforts by Bankman-Fried’s parents and comparisons to Trump’s recent pardon of Binance’s Changpeng Zhao, the former president rejected clemency. Bankman-Fried was sentenced to 25 years in prison and ordered to repay $11 billion to FTX customers after being found guilty in one of the largest financial fraud cases in modern history. His legal team continues to appeal, arguing he was denied a fair trial.

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.

The 1D chart shows the price of FTX’s native token, FTT, dropping towards $0.50. Source: FTTUSDT on TradingView.com

Featured image from Forbes, chart from TradingView.com

Related Questions

QWhat was Donald Trump's response to the possibility of issuing a presidential pardon for Sam Bankman-Fried?

ADonald Trump firmly rejected the idea of pardoning Sam Bankman-Fried, making it clear he had no intentions of granting clemency to him.

QWhat was Sam Bankman-Fried convicted of and what was his sentence?

ASam 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.

QWhat argument did Sam Bankman-Fried's legal team make in their appeal?

AHis legal team argued that he was 'unfairly convicted,' claiming he was denied a fair opportunity to defend himself and was 'presumed guilty—before he was even charged' due to intense media scrutiny and prosecutorial pressure.

QHow does the article connect the case of former Binance CEO Changpeng Zhao to Sam Bankman-Fried's situation?

AThe article states that speculation about a pardon for Bankman-Fried intensified after President Trump granted clemency to Changpeng Zhao, who had pleaded guilty to charges two years earlier.

QWhat role are Sam Bankman-Fried's parents playing in his case, according to the report?

ABankman-Fried’s parents are reportedly working behind the scenes to lobby for a reduction in their son’s sentence.

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