SBF seeks pardon via DOJ portal despite Trump refusals

Sam Bankman‑Fried filed a formal application for a presidential pardon through the Justice Department’s Office of the Pardon Attorney portal while President Trump has publicly ruled out granting him clemency.

Bankman‑Fried was convicted in November 2023 on seven counts including fraud, conspiracy and money laundering related to the collapse of FTX and Alameda Research. U.S. District Judge Lewis Kaplan sentenced him on March 28, 2024, to 25 years in prison and ordered roughly $11 billion in forfeiture. Prosecutors say the scheme misappropriated more than $8 billion in customer funds. Bankman‑Fried has denied criminal intent, arguing that FTX experienced a liquidity crisis rather than outright insolvency.

The pardon filing follows months of public and private efforts to press for clemency. Bankman‑Fried has posted pro‑Trump messages on social platforms and participated in a prison interview laying out his account of events. His parents, Stanford law professors Joseph Bankman and Barbara Fried, have worked with lawyers who have ties to the former president since early 2025 to explore possible paths to a pardon or other relief.

President Trump explicitly rejected the idea of pardoning Bankman‑Fried in a January 2026 interview, and White House officials have reiterated that position. Some Republican lawmakers who generally support crypto interests have opposed clemency for Bankman‑Fried; one pro‑crypto Republican described him as “a piece of s-t” and called him unfit for mercy.

The Justice Department will review the application under its standard procedures through the Office of the Pardon Attorney. A president may grant clemency outside those procedures at his discretion. Federal appeals of Bankman‑Fried’s conviction are ongoing, and there has been no indication through June 2026 that the White House will change its public stance.

Separately, the FTX bankruptcy estate has continued to distribute recovered assets to creditors and customers. Multiple distributions have returned billions of dollars to claimants; some U.S. customer classes have recovered 100% to 120% of allowed claims based on values at the November 2022 petition date. A fourth distribution in March 2026 delivered $2.2 billion and restored full recovery in certain U.S. customer categories.

Public betting markets and analysts assign low odds that a presidential pardon will be granted in 2026, with one prediction market placing the probability near 7 percent. The formal filing does not change the legal posture of the case while appeals proceed, but it registers a clemency request for review.