Sam Bankman-Fried, once a prominent figure in the cryptocurrency industry, is reportedly pursuing a presidential pardon from Donald Trump following his fraud conviction. After being sentenced to 25 years in prison for his role in the downfall of FTX, he has been working through legal and political channels in an attempt to secure clemency. His efforts include enlisting lobbyists and legal experts with past ties to Trump’s campaigns. In addition, his recent media engagements suggest an attempt to align himself with the current administration’s stance on cryptocurrency regulation.
Bankman-Fried’s attempts to influence political narratives are not new. Over the years, he has actively engaged with policymakers, supporting regulatory measures that could benefit the crypto industry. However, his recent approach appears more tailored to Trump’s policies, including endorsing the proposed sovereign wealth fund. While prior interactions with lawmakers focused on shaping crypto regulations, his current efforts seem directed toward personal legal relief rather than broader industry interests.
What Strategies Is Bankman-Fried Using to Gain Support?
To bolster his case, Bankman-Fried has been in contact with Kory Langhofer, an Arizona attorney who previously worked on Trump’s election campaigns. Additionally, he has taken steps to publicly express support for Trump’s economic policies, including co-authoring an article that aligns with the administration’s proposed initiatives. His communication with influential figures reflects an effort to position himself favorably within conservative political circles.
His recent interview with former Fox News host Tucker Carlson is another notable move. During the discussion, he suggested that he had stronger ties to Republicans than Democrats at the time of FTX’s collapse. He also implied that Trump’s presidency would benefit the cryptocurrency market, an industry that has seen regulatory shifts under the new administration.
How Have These Efforts Been Received?
So far, there is little indication that these efforts have gained significant traction. Sources familiar with the situation suggest that Trump’s inner circle has not prioritized Bankman-Fried’s plea. Moreover, his unauthorized prison interview with Carlson reportedly resulted in disciplinary action, with authorities placing him in solitary confinement.
Some of Bankman-Fried’s supporters argue that his legal case was mishandled and that his prosecution was not entirely justified.
“The prosecution told a story about FTX and Sam Bankman-Fried that is not correct,” Langhofer said. “If the public knew the full story, they would view it differently.”
Despite these claims, legal experts remain skeptical about the possibility of a presidential pardon.
Trump’s administration has taken a different stance on cryptocurrency regulation, reducing enforcement actions against crypto firms that were initiated following the FTX collapse. The president recently hosted a cryptocurrency summit at the White House, signaling a shift in Washington’s approach to digital assets. While this presents a more favorable climate for the industry, it is unclear whether it will translate into clemency for Bankman-Fried.
Seeking a presidential pardon is a complex process influenced by legal, political, and public perception factors. While Bankman-Fried’s lobbying efforts indicate a clear strategy, the success of such attempts depends on Trump’s willingness to intervene. Given the scale of the financial fraud involved in FTX’s collapse, granting a pardon could carry political risks. The cryptocurrency industry continues to evolve under the new administration, but Bankman-Fried’s legal standing remains uncertain.
