The Blubber

FTX Co-Founder’s Parents Seeking Trump Pardon for Sam Bankman-Fried

The parents of FTX co-founder Sam Bankman-Fried are exploring ways to secure a pardon for their son from President Donald Trump, according to a source familiar with the matter.

Joseph Bankman and Barbara Fried, both Stanford Law School professors, have held meetings in recent weeks with lawyers and Trump allies regarding clemency for their 32-year-old son, who is serving a 25-year prison sentence for fraud. It remains unclear whether any outreach has been made to the White House.

No Comment From Key Figures

• Bankman and Fried declined to comment.
• Bankman-Fried’s attorney, who has filed an appeal of his 2023 conviction, did not immediately respond.
• The White House also declined to comment.

Trump’s Pardons Fuel White-Collar Clemency Rush

Trump’s early use of his pardon power, including for Silk Road founder Ross Ulbricht, has sparked a wave of requests from white-collar defendants hoping for leniency.

Bankman-Fried, once a crypto industry star, would be seeking clemency from a president who has shifted from crypto skeptic to advocate. The crypto and libertarian movements lobbied hard for Ulbricht’s pardon, but Bankman-Fried lacks the same level of public support.

Still, he has argued that his sentence is excessive, pointing out that FTX customers have largely recovered their lost funds. Former FTX executive Ryan Salame, sentenced to over seven years, has also sought a pardon.

Pardon Interest Surges

Jeffrey Grant, who runs a legal advisory firm for white-collar defendants, reports a flood of pardon inquiries:

“We have been hearing from people in prison, people recently sentenced who haven’t reported yet, and even those who have just been indicted. They are looking for somebody who knows somebody.”

While federal prisoners can apply for clemency through the Justice Department, Trump has historically granted pardons based on informal appeals.

Grant criticized the influence-based process, saying:

“I appreciate people want to do it and need to do it, but as an organization, we don’t get involved.”

Meanwhile, prison consultant Sam Mangel, who has worked for Steve Bannon and Peter Navarro, says he’s handling multiple clemency requests and has received guidance from Trump insiders.

As Bankman-Fried’s parents continue their pardon efforts, it remains to be seen whether Trump will intervene in one of the biggest financial fraud cases of recent years.