SBF Seeks Trump Pardon, Claims FTX Funds Not Stolen
Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, has stated that he “absolutely” desires a presidential pardon from Donald Trump. In a phone interview with Fox Business, Bankman-Fried confirmed his willingness to accept clemency from the White House. When asked if his family was actively lobbying for such a pardon, he declined to comment, saying he “can’t speak for them.”
Bankman-Fried was sentenced to 25 years in prison in March 2024, following the dramatic collapse of FTX in November 2022. He was convicted on charges including wire fraud and conspiracy. The fallout from the exchange’s failure resulted in significant financial losses, with FTX customers reportedly losing approximately $8 billion, investors around $1.7 billion, and lenders to Alameda Research, another of Bankman-Fried’s ventures, about $1.3 billion.
Despite his conviction, Bankman-Fried continues to dispute the prevailing narrative of the case. He asserted in the interview that he did not steal user funds. He also highlighted the ongoing bankruptcy proceedings, suggesting that a rebound in cryptocurrency prices has allowed customers to recover more than their initial deposits. Bankman-Fried estimated that some users might have received as much as 170% of their original balance, implying that the platform was ultimately “over-collateralized.”
Following the broadcast of the interview, the price of FTT, FTX’s native token, saw an immediate surge. The token has risen by over 50% in the past 24 hours, trading at approximately $0.37, a level not seen in nearly a month.
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