White House Signals Trump Will Not Pardon Sam Bankman-Fried

U.S. President Donald Trump does not intend to grant a pardon to former FTX chief executive Sam Bankman-Fried, according to a White House spokesperson, shutting down months of speculation that the imprisoned crypto founder was attempting to secure clemency through a public political pivot.

The spokesperson pointed to Trump’s earlier public remarks in which he ruled out pardons for several high-profile figures, including Bankman-Fried, and reiterated that no clemency is currently under consideration, according to Fotune.

The president retains final authority over all pardon decisions.

Bankman-Fried is serving a 25-year federal prison sentence following his conviction on fraud and conspiracy charges tied to the collapse of FTX, once one of the world’s largest cryptocurrency exchanges.

Appeals Fight Continues

The former executive is continuing to challenge his conviction in federal appeals court, arguing that the trial process and sentencing were flawed.

His legal team has not publicly commented on the latest signal from the White House.

Bankman-Fried was sentenced in 2024 after a jury found he orchestrated a multibillion-dollar scheme that diverted customer funds to affiliated trading firm Alameda Research, a collapse that triggered widespread losses across the digital-asset sector and intensified regulatory scrutiny of crypto markets.