Gate News, March 18 — FTX founder Sam Bankman-Fried (SBF) requested a pardon from President Donald Trump but was unsuccessful. SBF was sentenced to 25 years in federal prison for embezzling over $8 billion from customers. He has publicly supported Trump’s policies on the X platform for months, trying to secure a pardon, but members of both parties in Congress oppose it.
Republican Senator Bernie Moreno, who supports cryptocurrency, openly stated that SBF should not be granted a pardon. Democratic Senator Cynthia Lummis also said she does not believe Trump would be persuaded by his words. Nebraska Republican Senator Mike Flood criticized him for disrupting market order, while Democratic Representative Sam Liccardo hinted that a pardon could not be achieved through corruption.
Previously, SBF operated an X account through friends, praising Trump’s policies and blaming “Biden’s legal war machine” for his conviction. He even gave an unauthorized prison interview to seek a pardon, but all efforts failed. Trump confirmed to the media in January that he did not plan to approve the pardon request, and the White House reiterated this stance in February.
Over the past 10 months, Trump has pardoned some cryptocurrency offenders, including Ross Ulbricht, the founder of Silk Road, and CZ, the founder of major CEX exchanges. However, their crimes differ significantly from SBF’s, involving much smaller amounts and less customer loss than SBF’s $8 billion financial fraud.
SBF was convicted on seven counts of fraud and conspiracy. The jury found that he instructed accomplices to manipulate FTX trading accounts, allowing Alameda Research to illegally use customer funds. Three key accomplices testified that he directly ordered the fraud, highlighting the seriousness of the case. Trump and the White House’s veto also received support from several lawmakers.
SBF’s failed pardon attempt again shows that the U.S. maintains a zero-tolerance stance toward major financial crimes in cryptocurrency. Although Trump’s term still has three years remaining, it will be very difficult for SBF to obtain a pardon. His case also serves as a warning to the cryptocurrency industry about increased regulation.
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