WASHINGTON — Convicted FTX co-founder Sam Bankman-Fried formally filed a request for a presidential pardon with the U.S. Department of Justice on Monday, seeking clemency after completion of his 25-year prison sentence for fraud and related charges.
Bankman-Fried, 34, submitted the application to the Justice Department’s Office of the Pardon Attorney, according to the office’s public records. He is serving his sentence following a 2023 conviction on multiple counts of fraud, conspiracy and money laundering tied to the 2022 collapse of the cryptocurrency exchange FTX.
The filing comes despite President Donald Trump’s previous statements that he does not plan to grant clemency to Bankman-Fried. In January, Trump told The New York Times he had no intention of issuing a pardon, a position the White House has reiterated in subsequent months.
Bankman-Fried has been vocal in recent months, using social media and interviews to praise certain Trump administration policies while maintaining that FTX was solvent at the time of its collapse. His parents have also reportedly been involved in efforts related to clemency, according to earlier reports.
The application requests a “pardon after completion of sentence,” which would not result in early release but could restore certain civil rights, officials and legal experts have noted. Details of the specific arguments submitted in the filing were not immediately available.
Bankman-Fried was convicted in November 2023 in federal court in New York of orchestrating a scheme that prosecutors said diverted billions of dollars in customer funds from FTX to cover losses at his hedge fund Alameda Research and for other purposes. He was sentenced in March 2024.
The case drew widespread attention as one of the largest financial frauds in recent U.S. history, with prosecutors alleging customer losses exceeded $8 billion. Bankman-Fried has appealed his conviction.
In response to the latest filing, cryptocurrency markets showed volatility, with the legacy FTX token FTT rising sharply on Monday before pulling back, according to trading data.
A White House spokesperson declined to comment on the specific application, reiterating the president’s earlier stance. Lawyers for Bankman-Fried did not immediately respond to requests for comment.
The Justice Department’s pardon process typically involves review by the Office of the Pardon Attorney, with final decisions resting with the president. Bankman-Fried’s bid is considered a long shot given Trump’s prior comments, sources familiar with the matter have said.
As of Monday, no further action on the application had been announced. The development marks the latest chapter in the ongoing legal and public saga surrounding the former crypto executive.
