Donald Trump Rules Out Presidential Pardon for Sam Bankman-Fried, Ending Speculation on Political Rescue.
Despite a rehabilitation strategy and efforts from his entourage, SBF did not receive direct support from Trump or any hint of clemency.
The contrast with pardons granted to CZ or Ross Ulbricht shows that the FTX scandal remains politically untouchable and consequential for the ecosystem.
Sam Bankman-Fried will not be released from prison thanks to Donald Trump. The American president unequivocally stated that he will not consider any presidential pardon for the former head of FTX, sentenced to 25 years in prison for fraud. This declaration puts an end to ongoing speculation surrounding a potential political rescue of one of the most controversial figures in recent crypto history.
In an interview with The New York Times, Donald Trump confirmed that he will not use his power of clemency for Sam Bankman-Fried. This statement came as the president discussed other highly publicized cases, including his refusal to intervene in the legal affairs of rapper Sean “Diddy” Combs or Venezuelan leader Nicolás Maduro.
The message is clear: despite his pro-crypto stance and past decisions in favor of certain industry players, Trump draws a firm line when it comes to the former FTX CEO. This stance is particularly noteworthy as SBF embodies, in the eyes of the public, one of the major symbols of industry excesses and abuses.
Over the past few months, Sam Bankman-Fried had attempted to rehabilitate his image. Since his conviction, the former executive engaged in a targeted media campaign, adopting a more favorable tone towards Republicans and signaling support for the Trump camp.
Behind the scenes, his parents, former Stanford law professors, reportedly actively sought to open doors within the president’s circle, meeting with lawyers and intermediaries close to power. However, these efforts seem to have not yielded any concrete results. According to Trump, SBF did not even make a personal plea to him.
The refusal is all the more striking as Donald Trump previously did not hesitate to grant pardons to controversial figures from the crypto world. The former Binance CEO, Changpeng “CZ” Zhao, received a presidential pardon, as did Ross Ulbricht, Silk Road founder, and the co-founders of BitMEX.
This differential treatment suggests that the SBF case is perceived as qualitatively different. The collapse of FTX, the magnitude of losses for customers, the systemic impact on the crypto ecosystem, and the political implications of the scandal have significantly influenced public opinion and policymakers. Granting a pardon to SBF, for Trump, would entail a high political cost.
Beyond the individual case, the statement sends a clear message to the crypto industry. The political support displayed by Trump for the sector does not imply a blanket pardon for fallen figures.
For Sam Bankman-Fried, this stance closes one of the last hopes of an early exit. For the market, it serves as a reminder that crypto normalization also entails accepting severe penalties when boundaries are crossed.
The era of perceived impunity is definitively over. And in this case, even a president openly supportive of crypto is not willing to erase one of its biggest scandals.
