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Sam Bankman-Fried, the imprisoned founder of FTX, is reportedly exploring ways to obtain a pardon from President Donald Trump. According to The New York Times, Bankman-Fried has sought help from a lawyer linked to Trump, consulted Washington lobbyists, and participated in an interview with Tucker Carlson in an attempt to appeal to the president.
Despite his efforts, industry experts remain doubtful about his prospects. A crypto lobbyist told Fortune that the odds of Bankman-Fried securing a pardon were “near zero.”
His downfall began in November 2022, when FTX collapsed amid allegations that he misused customer deposits. Authorities accused him of funneling billions into Alameda Research, the exchange’s trading arm. The scandal triggered a market downturn, and Bankman-Fried was arrested in December of that year.
Following his conviction for fraud in 2023, a U.S. judge sentenced him to 25 years in prison. However, his family has not given up on securing his release. Earlier this year, his parents, Stanford Law School professors Joseph Bankman and Barbara Fried, reportedly met with lawyers and other influential figures connected to Trump to discuss possible clemency.
Joseph Bankman also co-authored an opinion piece in The Washington Post, alongside Berkeley law professor Mark Gergen, in which they praised Trump’s proposal for a U.S. sovereign wealth fund.
Trump has previously granted clemency to figures within the crypto space. In January, he pardoned Ross Ulbricht, the creator of Silk Road, fulfilling a campaign promise aimed at Libertarian voters. Whether Bankman-Fried’s case will receive similar consideration remains uncertain.