Sam Bankman-Fried, the disgraced founder of FTX, is positioning himself as a potential beneficiary of Donald Trump’s presidential clemency powers.
Following Trump’s high-profile pardon of Silk Road founder Ross Ulbricht in January 2025, Bankman-Fried is making calculated political statements from prison—an apparent attempt to secure a similar fate.
Once a major donor to Democratic campaigns, Bankman-Fried has distanced himself from President Joe Biden, openly criticizing his administration’s handling of the legal system.
In his first interview since receiving a 25-year sentence, he suggested that his prosecution was politically motivated, claiming that his downfall was orchestrated rather than a result of fraud.
His recent comments highlight a broader movement within the crypto community, where several convicted figures are lobbying for clemency under Trump’s presidency.
Blames bankruptcy mismanagement
Bankman-Fried continues to maintain that FTX’s collapse in 2022 was due to mismanagement rather than criminal intent.
He argued that the crypto exchange remained solvent but suffered from a liquidity crisis, blaming law firm Sullivan & Cromwell for mishandling its bankruptcy proceedings.
With FTX now beginning to repay customers, he pointed out that users are being compensated based on 2022 prices—significantly lower than today’s crypto valuations—a situation he claims reflects systemic flaws in financial regulations.
His legal team has not formally sought a pardon, but his parents, Stanford professors Joseph Bankman and Barbara Fried, are reportedly working behind the scenes to secure one.
Meanwhile, the case has drawn attention from key political figures, with Tesla CEO Elon Musk hinting at Bankman-Fried’s past political influence through cryptic social media posts.
Shifts support to Trump
Bankman-Fried’s political realignment signals a dramatic reversal from his past affiliations.
Once the second-largest donor to Biden’s campaign, he now portrays the Democratic administration as “destructive” and expresses a newfound alignment with the Republican Party.
He compared his legal troubles to Trump’s past legal battles, particularly the former president’s prosecution over classified documents and the alleged attempt to overturn the 2020 election.
Bankman-Fried noted that many of Trump’s legal challenges were dismissed once he returned to the White House, suggesting that a similar political intervention could work in his favor.
Further, he highlighted perceived bias in his trial, pointing to Judge Lewis Kaplan, who previously ruled against Trump in a defamation and assault case.
He also cited his former associate, Ryan Salame, a Republican donor who received a significantly longer 90-month sentence, implying that political affiliations played a role in the judiciary’s decisions.
Crypto figures push for clemency
Bankman-Fried is not alone in seeking a presidential pardon. Within the crypto industry, calls are growing for Trump to extend clemency to other high-profile figures.
Supporters are advocating for the release of Roger “Bitcoin Jesus” Ver, who faced legal troubles for alleged tax evasion, and Ethereum researcher Virgil Griffith, who was convicted for discussing blockchain technology in North Korea.
Trump’s past willingness to pardon figures in the crypto space, as seen with Ross Ulbricht, fuels speculation that he may extend a similar gesture to Bankman-Fried.
While the former FTX CEO insists that financial restitution is not his primary concern, the possibility of clemency remains an open question.
With Trump’s unpredictable stance on crypto and regulatory policies, it remains unclear whether Bankman-Fried’s calculated political shift will succeed.
His latest statements suggest that he is banking on Trump’s historical pattern of rewarding loyalty and aligning himself with a movement that sees political persecution as a common thread.
The post Sam Bankman-Fried seeks Trump pardon as crypto leaders push for clemency appeared first on Invezz
