The parents of former FTX CEO Sam Bankman-Fried are reportedly making efforts to secure a presidential pardon for their son from Donald Trump. Joseph Bankman and Barbara Fried, both Stanford Law School professors, have allegedly been in discussions with legal experts and individuals connected to Trump’s circle in hopes of obtaining clemency.
According to sources familiar with the matter, they are assessing the viability of this option following Bankman-Fried’s 25-year prison sentence for fraud-related charges linked to FTX’s collapse. Despite an appeal already filed by his legal team, his parents are looking for alternative ways to reduce or overturn his sentence.
Bankman-Fried, once a key figure in the crypto industry, saw his reputation collapse alongside FTX in late 2022 when the exchange was unable to fulfill customer withdrawals. His conviction included charges of wire fraud, securities fraud, and commodities fraud, among others. Hope for Clemency Trump’s history of granting pardons, particularly to white-collar criminals, has fueled speculation that Bankman-Fried’s case may be considered.
The former president has previously issued high-profile clemencies, including one for Silk Road founder Ross Ulbricht, who had been serving a life sentence for his role in the darknet marketplace. While Ulbricht had strong backing from the libertarian and crypto communities, Bankman-Fried does not currently enjoy the same level of public support. However, his legal team argues that his 25-year sentence is overly severe, especially since most FTX customers have reportedly recovered their lost funds.
A Growing Trend Since Trump’s return to the political spotlight, there has been a surge in pardon requests from high-profile figures. Legal experts and consultants specializing in clemency have noted an increase in applications from individuals convicted of financial crimes. Former FTX executive Ryan Salame, who received a seven-year sentence for campaign finance violations and operating an unlicensed money-transmitting business, is also reportedly considering a clemency request.
Unlike traditional clemency processes handled through the Justice Department, Trump has often granted pardons based on personal connections or political considerations. This has led many white-collar defendants to believe their best chance lies in leveraging relationships within Trump’s network. Political Implications Despite being a major Democratic donor in the past, Bankman-Fried’s case presents an interesting dynamic. Trump has previously shown a willingness to assist individuals across party lines if he believes they were treated unfairly by the legal system. Adding to the controversy, Bankman-Fried and Trump were both tried by U.S. District Judge Lewis A. Kaplan, a fact that some supporters claim indicates bias in the legal proceedings. While it’s uncertain whether Bankman-Fried will receive clemency, his parents’ efforts demonstrate their commitment to exploring all potential avenues for his release.
