FTX Co-Founder’s Parents Seek Pardon from Trump for Sam Bankman-Fried

FTX Co-Founder’s Parents Seek Pardon from Trump for Sam Bankman-Fried

The parents of former FTX CEO Sam Bankman-Fried are actively exploring avenues to secure a presidential pardon for their son from Donald Trump, according to a source familiar with the situation.

Joseph Bankman and Barbara Fried, both Stanford Law School professors, have reportedly engaged in discussions with attorneys and individuals linked to Trump’s circle in recent weeks regarding possible clemency for their 32-year-old son. Bankman-Fried was sentenced to 25 years in prison for fraud in 2024 following the collapse of his cryptocurrency exchange, FTX. However, it remains unclear whether any formal outreach has been made to the White House.

Both Bankman and Fried declined to comment on the matter, while a lawyer representing Bankman-Fried, who has also filed an appeal against his 2023 conviction, did not immediately respond to requests for comment. The White House has also remained silent on the issue.

Trump’s Pardons Spark Interest from White-Collar Defendants

Trump’s swift and unconventional approach to issuing pardons—including his recent clemency grant for Ross Ulbricht, the founder of Silk Road—has fueled a surge of interest from white-collar defendants eager to have their cases considered.

Bankman-Fried, once a rising star in the crypto industry before becoming a symbol of financial scandal, would be appealing to a president who has shifted from a crypto skeptic to a vocal supporter of the industry.

While Ulbricht’s case gained widespread support from both the crypto community and libertarian advocates, Bankman-Fried has not yet received the same level of public backing. However, he has previously argued that his sentence was overly severe, especially given that FTX customers have recovered most of their lost funds.

A Broader Push for Presidential Mercy

Bankman-Fried is not the only former FTX executive seeking a pardon—Ryan Salame, who was sentenced to more than seven years in prison, has also indicated that he is pursuing clemency.

Jeffrey Grant, who runs a legal consultancy for white-collar defendants in New York, noted a significant uptick in inquiries related to pardons.

“We’ve been contacted by people currently in prison, those awaiting sentencing, and even individuals who have just been indicted,” Grant revealed. “They’re all looking for someone with the right connections.”

Federal prisoners typically apply for clemency through the Justice Department, but Trump has a history of granting pardons based on informal appeals rather than the traditional process.

Trump’s Evolving Pardon Strategy

Sam Mangel, a prison consultant who has worked on clemency cases for figures such as Steve Bannon and Peter Navarro, confirmed that he is currently handling multiple requests.

According to Mangel, insiders from Trump’s circle have provided informal guidelines on the types of cases more likely to receive a pardon.

“I was advised to steer clear of sex crimes, violent offenses, and illegal immigration cases,” he said.

Trump’s willingness to issue pardons early in his presidency marks a stark contrast from his first term when most clemency decisions came toward the end. This approach is also different from Joe Biden’s strategy—Biden issued a series of last-minute pardons, including for his son and several political figures.

While Trump has historically granted clemency to Republican allies, he has also extended help to certain Democrats who claim they were unfairly prosecuted. Reports suggest that he is considering intervening in the bribery case against New York City Mayor Eric Adams, who has alleged political bias in his prosecution due to his criticism of Biden’s immigration policies.

A Shared Sense of Injustice?

One factor that may work in Bankman-Fried’s favor is a common legal thread between his case and Trump’s own legal battles.

U.S. District Judge Lewis A. Kaplan, who sentenced Bankman-Fried to decades in prison, was also the judge presiding over the defamation and sexual assault lawsuits brought against Trump by writer E. Jean Carroll. This connection could add another dimension to the decision-making process regarding clemency for the disgraced crypto mogul.

As Bankman-Fried’s legal team continues to fight his conviction, his parents’ efforts to secure a pardon highlight the unpredictable nature of Trump’s clemency decisions—and the growing number of high-profile individuals hoping to benefit from them.