President Donald Trump has ruled out pardoning Sam Bankman-Fried, interrupting a series of speculations swirling in cryptocurrency circles as the imprisoned FTX founder fights his conviction and seeks a political outcome.
Trump delivered that message in a lengthy interview with The New York Times, where he also answered questions about pardoning other figures, including Sean “Diddy” Combs.
A jury convicted Bankman-Fried in November 2023 of fraud and conspiracy related to the misuse of billions of dollars of customer funds. A judge sentenced him in March 2024 to 25 years in prison, and he appealed the sentence and conviction.
Discussions about forgiveness have not completely stopped. Bloomberg reported in January 2025 that Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, law professors at Stanford, had begun exploring ways to obtain a pardon by meeting with lawyers and people connected to Trump’s circle.
President Donald Trump told the New York Times that he has no plans to pardon former FTX CEO Sam Bankman-Fried (SBF). SBF was sentenced to 25 years in prison in 2023 for fraud and conspiracy and is currently appealing that conviction. He donated $5.2 million to Biden…
-Wu Blockchain (@WuBlockchain) January 8, 2026
From Silk Road to Binance, Trump Showed Willingness to Pardon Crypto Figures
Trump’s heavy-handed response stands out as he has shown his willingness to resort to clemency in crypto-related cases. He pardoned Silk Road founder Ross Ulbricht in January 2025, a move welcomed by some libertarians and Bitcoin supporters.
He later pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo and Samuel Reed, as well as others associated with the platform, after they were convicted under the Bank Secrecy Act.
Trump then pardoned Binance founder Changpeng “CZ” Zhao on October 23, drawing criticism given Binance’s enforcement history.
When White House Press Secretary Carolyn Leavitt was asked about Chao’s pardon, the president reportedly “exercised his constitutional authority,” saying Chao “was being pursued by the Biden administration in its war on cryptocurrencies.”
Investor anger over FTX collapse leaves no room for pity
The Bankman-Fried affair falls into a different category for many investors, known less as a regulatory battle than as a collapse that deeply harmed the industry’s clients and funds.
In the same interview, Trump defended his broad adoption of digital assets from a political and strategic perspective. He said: “I got a lot of votes because I supported cryptocurrencies and I loved them. China wanted them, and one of us had to get them.”
For Bankman-Fried, there was no choice but to go to court. His appeal continues, and Trump’s recent statements indicate that any campaign to pardon the former commander will be met with outright rejection at the White House.
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