SAM BANKMAN-FRIED APPLIES FOR PRESIDENTIAL PARDON FROM TRUMP

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has filed a formal application for a pardon from President Donald Trump. Bankman-Fried is currently serving a 25-year federal prison sentence following his conviction on multiple counts of fraud. The application, described as a "pardon after completion of sentence", was submitted to the Department of Justice and appears in online records held by the Office of the Pardon Attorney. Such a pardon would forgive his convictions in law after he serves his sentence, but would not shorten the term itself. The White House declined to comment, and a lawyer for Bankman-Fried did not respond to a request for comment.

Bankman-Fried founded FTX, which became one of the most widely used cryptocurrency exchanges in the world before it collapsed in 2022. The firm's failure came amid allegations that Bankman-Fried had used customer deposits for personal investments and to pay debts. He was subsequently convicted on multiple federal charges connected to FTX and its associated firm, Alameda Research. His pardon application sits alongside more than 20,000 similar requests filed with the Office of the Pardon Attorney. Bankman-Fried has maintained his innocence and is currently pursuing an appeal against his sentence.

Trump has issued a range of pardons during his second term, including for participants in the 6 January 2021 attack on the US Capitol Building and for Changpeng Zhao, founder of rival crypto platform Binance. However, Trump indicated earlier this year that he would not pardon Bankman-Fried. Bankman-Fried has not filed a commutation request, meaning he has not sought a formal reduction of his current sentence. His application requests only that his convictions be forgiven upon completion of his term in prison.