Sam Bankman-Fried, co-founder of cryptocurrency exchange FTX, has formally applied for a pardon from President Donald Trump, according to the Department of Justice.
On the Office of the Pardon Attorney website, Bankman-Fried sought a “pardon after completion of sentence,” and the status remains “pending.”
The former billionaire crypto investor received a 25‑year federal prison sentence after being found guilty of securities and wire fraud, as well as multiple conspiracy charges.
Prosecutors argued that he misappropriated billions of dollars in FTX customer deposits and routed the funds to Alameda Research, the hedge fund he controlled. The court also determined that FTX clients lost $8 billion, FTX’s equity investors lost almost $2 billion, and lenders to Alameda Research lost $1.3 billion….