The parents of FTX ($0.00) co-founder Sam Bankman-Fried are reportedly seeking a possible pardon for their son from President Donald Trump, according to sources familiar with the matter.
Bankman-Fried, who was sentenced to 25 years in prison for fraud, is currently appealing her 2023 conviction related to the cryptocurrency exchange crash.
Stanford Law School professors Joseph Bankman and Barbara Fried have met with lawyers and people connected to Trump’s inner circle in recent weeks to discuss a possible pardon for their 32-year-old son, but it remains unclear whether any official outreach has been made to the White House.
Neither Bankman nor Fried would comment, and Bankman-Fried’s legal team did not respond to requests for comment. The White House also declined to comment.
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Trump’s willingness to use his pardon power early in his presidency, including for Silk Road founder Ross Ulbricht, has led to a surge in clemency requests from white-collar defendants. Bankman-Fried, once considered a crypto visionary, may now be looking to appeal to Trump, who has transformed from a crypto skeptic to a staunch advocate for digital assets.
Unlike Ulbricht, who has garnered significant public support from the crypto and libertarian communities, Bankman-Fried has yet to garner widespread support for clemency. However, he argued that his sentence was excessively harsh, given that most FTX customers have recovered a significant portion of their lost funds. Former FTX executive Ryan Salame, who was sentenced to seven years in prison, has also reportedly sought clemency.
*This is not investment advice.
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