It has been reported that despite President Trump's large-scale pardons after his return to office, he has no plans to pardon former FTX CEO Sam Bankman-Fried (SBF).
President Trump carried out hundreds of pardons and commutations in his first year back in office, including several prominent figures from the cryptocurrency industry.
The presidential pardon will not be applied to defendant Sam Bankman-Fried
U.S. President Trump clearly stated in a recent interview with The New York Times that pardoning Sam Bankman-Fried would be extremely difficult. He also indicated no intention to pardon other high-profile cases.
Among them are former New Jersey state senator Robert Menendez, Venezuela's Nicolás Maduro, and rapper Shawn "Diddy" Combs.
Bankman-Fried was convicted on multiple counts of fraud and conspiracy and sentenced to 25 years in prison for his role in the collapse of the FTX exchange. Even after the conviction, efforts to seek clemency have continued.
Bloomberg reported in January that the individual's parents had begun advocating for clemency for Trump. The former FTX CEO, in his first interview with the New York Sun while still in prison, renewed his plea for clemency in February 2025.
"At the time, I tended to see myself as more centrist-left, but now I hold different views. I spent a significant amount of time in Washington D.C. up to 2022, working closely with legislators, regulators, and government officials. As a result, I became deeply disappointed and frustrated with the Biden administration and the Democratic Party. Particularly in cryptocurrency policy, the Biden administration's stance was extremely destructive and difficult to cooperate with. I see my case as one part of this broader context," said Bankman-Fried in his statement.
Bankman-Fried has also appealed to overturn his 25-year sentence. He is currently serving time at a low-security prison near Los Angeles and may be eligible for parole in October 2024.
Attention turns to Trump's 2025 cryptocurrency clemency
While hope for clemency for Bankman-Fried appears to have vanished, President Trump has signaled openness to clemency in other cryptocurrency-related cases. Recently, he stated he would "consider" the case of Keone Rodriguez, CEO of Samurai Wallet.
Notably, President Trump carried out three high-profile clemencies related to cryptocurrency in 2025.
Ross Ulbricht, founder of Silk Road, was granted clemency in January 2025.
In March, Trump granted clemency to Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer, former head of business development, all co-founders of BitMEX.
Finally, in the October 2025 clemency, the 2023 conviction against CZ, founder of Binance, was overturned.
Clemency for Mr. Zhao sparked significant criticism from some industry insiders and regulators. Seven Democratic senators in the U.S. Senate called for an investigation into the decision. Legislators including Elizabeth Warren and Bernie Sanders questioned whether Trump's support for World Liberty Financial and Binance influenced the clemency decision.
