The parents of FTX founder Sam Bankman-Fried are exploring ways to obtain a pardon from President Trump for their disgraced crypto-billionaire son who is currently serving a 25-year prison sentence, according to a report.
Joseph Bankman and Barbara Fried, both Stanford Law School professors, have met with lawyers and other figures in Trump’s orbit about a clemency deal for Bankman-Fried, 32, who was found guilty of stealing more than $8 billion from customers of his now-bankrupt cryptocurrency exchange in November 2023, Bloomberg reported.
It is unclear if the couple has reached out directly to the White House to discuss a pardon, according to the outlet.
The White House, Bankman and Fried and a lawyer for SBF, who also filed a legal appeal on his 2023 charges tied to the collapse of FTX, did not respond to the outlet’s request for comment.
The Post has also reached out for comment.
Trump’s swift pardon of Silk Road founder Ross Ulbricht has encouraged a slew of white-collar convicts, like Bankman-Fried, to put their cases in front of the president, the outlet said.
Bankman-Fried has claimed his sentence imposed in March 2024 was “draconian” because FTX clients got back most of the money they lost and continually asserted he was a victim of market downturn.
Former FTX executive, Ryan Salame, who was sentenced to seven and a half years in prison for campaign finance law violations, is also seeking a pardon, Bloomberg reported.
It is yet to be seen if SBF would have an easier time bargaining for a pardon than Ulbricht, a so-called champion of the free market. Trump has a reputation for supporting cryptocurrencies — with the industry soaring since he’s taken office.
He was also adjudicated for sexual assault and defamation lawsuits brought by New York writer E. Jean Carroll by the same judge who sentenced Bankman-Fried, US District Judge Lewis A. Kaplan.
The tech mogul was found guilty on all seven fraud and conspiracy charges for his scheme to swipe money from users of his FTX exchange to pay off debts at his failing hedge fund Alameda Research and purchase lavish real estate.
This cash grab led to the collapse of Bankman-Fried’s crypto empire, leaving thousands unable to withdraw their funds.
Kaplan granted the former billionaire the 25-year sentence in March 2024 — less than one-fourth of the 110-year max that Bankman-Fried faced and well under the 40-to-50 years prosecutors suggested.
SBF is currently housed in a 15-man protective custody unit reserved for those who need special security at Brooklyn’s notorious Metropolitan Detention Center.
Others in the special unit include disgraced rapper Sean ‘Diddy’ Combs and alleged the United HealthCare CEO killer, Luigi Mangione.
