USDFTT Surges As Sam Bankman-Fried Formally Seeks Trump Pardon
Clemency Petition Moves Into Official Review Process
TL;DR
- Sam Bankman-Fried has officially filed a presidential pardon request with President Donald Trump.
- The petition appeared in U.S. Department of Justice records on June 8, 2026, and is listed as pending.
- Trump previously said Bankman-Fried should not expect a pardon.
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Sam Bankman-Fried has formally asked President Donald Trump for a presidential pardon while serving a 25-year prison sentence tied to the collapse of FTX, with the request now appearing in U.S. Department of Justice clemency records as a pending petition.
The filing became publicly visible on June 8, 2026, through records maintained by the Department of Justice's Office of the Pardon Attorney. The petition is listed as pending, indicating that the request has entered the federal clemency review process.
The Office of the Pardon Attorney does not publicly disclose details of ongoing reviews, leaving the contents of the application and the status of any internal evaluation undisclosed.
Bankman-Fried, 34, remains incarcerated while simultaneously pursuing appeals of his criminal conviction and seeking executive clemency.
After the announcement, FTT initially surged by 62.68% during the day but later retraced to a gain of approximately 32%.
Public Campaign Becomes Formal Request
The filing follows months of public efforts by Bankman-Fried to position himself favorably with Trump and members of his political orbit.
During a recent FOX Business interview, correspondent Susan Li asked Bankman-Fried by phone, “I assume that you would want a pardon from the White House?” Bankman-Fried replied, “Absolutely.” He then added, “It would be obviously, you know, ultimately up to the president, not up to me.”
Bankman-Fried declined to say whether his family was actively lobbying the Trump administration on his behalf.
His parents, Stanford Law School professors Joseph Bankman and Barbara Fried, previously contacted people within Trump's orbit to explore the possibility of a presidential pardon. Whether those efforts resulted in direct discussions with White House officials remains unclear.
Bankman-Fried has also made a series of public statements supportive of Trump. Through prison-approved communications relayed by intermediaries, he praised Trump's decision to launch strikes against Iran, argued that Trump helped “save” the Securities and Exchange Commission by replacing former Chair Gary Gensler with Paul Atkins, and highlighted lower gasoline prices during Trump's presidency.
His X account has featured praise for some of Trump's actions during the past year, including Trump's pardon of former Honduran President Juan Orlando Hernández.
Bankman-Fried also appeared on Tucker Carlson's program last year after previously being viewed as a major Democratic donor during the 2020 election cycle.
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White House Signals No Change In Position
The formal clemency filing comes despite earlier indications that Trump is not inclined to grant relief.
During a January interview with The New York Times, Trump said Bankman-Fried should not count on receiving a pardon and grouped him with several other high-profile defendants he did not intend to pardon.
When asked about Bankman-Fried's latest effort, a White House spokesperson referred to Trump's January comments, reiterating that the president had no plans to pardon him.
Trump has nevertheless granted clemency to several prominent figures connected to the cryptocurrency industry since returning to office, including Silk Road founder Ross Ulbricht, former Binance CEO Changpeng “CZ” Zhao, and the co-founders of BitMEX.
FTX Conviction Remains Central Issue
Bankman-Fried was convicted in 2023 on multiple fraud and conspiracy charges connected to the collapse of FTX, the cryptocurrency exchange he founded and led.
The case centered on allegations that he stole billions of dollars in customer funds from the exchange before its bankruptcy.
FTX collapsed in November 2022 after concerns surrounding affiliated trading firm Alameda Research exposed an $8 billion hole in FTX's accounts and triggered a rush of customer withdrawal requests.
Bankman-Fried is currently housed at a low-security federal correctional facility in Santa Barbara, California.
His legal appeals remain ongoing while the clemency petition moves through the federal review process. No decision has been announced, and the petition remains pending.
FAQ
When did Sam Bankman-Fried file for a pardon?
The petition appeared in Justice Department records on June 8, 2026.
What is the status of the request?
The clemency petition is currently listed as pending.
How long is Bankman-Fried's sentence?
He is serving a 25-year prison sentence.
Has Trump indicated support for the request?
No. Trump previously said Bankman-Fried should not count on receiving a pardon.
This article has been refined and enhanced by ChatGPT.
