One of the worst cryptocurrency scam artists is trying to get a pardon from President Trump.
Sam Bankman-Fried has officially filed with the Justice Department’s Pardon Attorney Office, Bloomberg reports. The co-founder of the cryptocurrency trading site FTX was convicted on fraud and money laundering charges in 2024 and is now serving a 25-year prison sentence.
Whether Trump will pardon Bankman-Fried is an interesting question. The one-time crypto baron dropped millions of dollars on the Democratic Party and various Democratic political campaigns and PACs, as well as a smaller amount of cash on Republicans. That might make it less likely for Trump to extend a pardon, although Trump has pardoned Democrats before, such as former Illinois Governor Rod Blagojevich and Representative Henry Cuellar.
Blagojevich was only able to get a pardon after extensively lobbying the president and conducting a slick PR campaign. Bankman-Fried seems to be trying the same strategy, giving a phone interview to Fox Business on Monday from prison and praising Trump’s Iran airstrikes In March. His real usefulness to Trump, however, is his cryptocurrency background. Trump’s sons Eric and Donald Jr. are making millions through their crypto venture, World Liberty Financial, which could make the president more forgiving of Bankman-Fried.
Last year, Trump pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance. Zhao probably helped his own cause by helping to boost World Liberty Financial, as well as hiring people in Trump’s orbit to lobby for his own cause. Bankman-Fried now has to hope he has Trump’s attention to become one of the many white-collar criminals and fraudsters the president has let off the hook in his second term.
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