SBF Files Formal Pardon Petition With Trump White House, Attorney Confirms

Sam Bankman-Fried, the convicted founder of the collapsed crypto exchange FTX, has formally filed a petition for a presidential pardon with the Trump White House, his attorney confirmed to CNBC and Fox Business on Monday.

The petition was filed with the Office of the Pardon Attorney, a division of the Department of Justice that processes clemency applications. A formal petition represents the most concrete step Bankman-Fried has taken toward clemency since his sentencing. The Trump administration has not yet publicly responded to the filing.

FTT Token Reaction

FTX's FTT token recorded a sharp move on Monday afternoon. According to CoinGecko data, FTT traded at approximately $0.234 Monday afternoon, then jumped to $0.3554 within an hour, a gain of roughly 52%. The token pulled back to around $0.3211 by Tuesday morning, still up approximately 32% over the trailing 24 hours. FTT carries a fully diluted valuation of $105.6 million, per CoinGecko.

FTT remains 99.6% below its September 2021 all-time high of $84.18.

The Petition and Its Arguments

Bankman-Fried, 32, is serving a 25-year sentence at a federal correctional facility following his November 2023 conviction on seven counts of fraud and conspiracy. A separate sentencing for related charges was completed in March 2024.

Pardon petitions filed with the DOJ's Office of the Pardon Attorney typically argue grounds for clemency. Common grounds include legal overreach, prosecutorial misconduct, disproportionate sentencing, or rehabilitation. The specific arguments in Bankman-Fried's petition have not been publicly disclosed. Bankman-Fried has maintained his innocence since his December 2022 arrest.

In a prison interview that aired Monday on Fox Business, Bankman-Fried said he is seeking a pardon and reiterated he does not believe he committed the crimes for which he was convicted. The full interview transcript has not been independently published.

Trump Administration Position

President Donald Trump has previously said publicly that he has no plans to pardon Bankman-Fried.

Bankman-Fried was among the largest donors to Democratic political causes before FTX's collapse in November 2022. Trump and Republican officials have repeatedly cited that donation history in public statements about the case.

Clemency Process

Presidential clemency applications are not filed in federal court. The DOJ's Office of the Pardon Attorney receives thousands of petitions annually; presidential action on pardon-office applications is rare. Most high-profile clemency grants are initiated through direct petitions to the White House Counsel's office. Whether Bankman-Fried's petition was routed through the pardon office, the White House Counsel, or both has not been confirmed.

The FTX criminal case remains in the Southern District of New York. No motion for new trial, appeal, or other post-conviction proceeding appears in the public docket as of this writing.