Sam Bankman-Fried, the former head of the cryptocurrency exchange FTX,has formally requested a pardon from former President Donald Trump while serving a 25-year prison sentence for fraud. The application was submitted to the Department of Justice,as indicated by online records.
Bankman-Fried, 34, was convicted on multiple federal charges linked to the collapse of FTX and its associated trading firm, Alameda Research. His legal team has not sought a commutation, which would shorten his sentence, but rather a full pardon that would erase his convictions after he serves his time.
The request comes just two years into his sentence,during which Bankman-Fried has consistently maintained his innocence and is currently appealing the court's decision. If granted, a pardon would effectively absolve him of crimes associated with his high-profile case, which has drawn significant media attention .
FTX,once a leading platform in the cryptocurrency market, collapsed in 2022 amid allegations that Bankman-Fried misappropriated customer funds for personal investments and debt payments. His downfall transformed him from a billionaire to a convicted felon, marking a dramatic shift in the public's perception of cryptocurrency leaders.
Bankman-Fried's pardon application is part of a larger trend, as over 20,000 requests for pardons or commutations have been filed with Office of Pardon Attorney. During his presidency, Trump granted pardons to variety of individuals,including those involved in the January 6 Capitol riots and other controversial figures. Earlier this year, when asked about possibility of pardoning Bankman-Fried,Trump expressed that he would not support such a move.
The White House has declined to comment on Bankman-Fried's application,and his lawyer did not respond to inquiries regarding the matter. As the cryptocurrency landscape continues to evolve, the implications of Bankman-Fried's case remain significant for the industry and its regulatory future .
