Sam Bankman-Fried has filed a formal clemency petition with the U.S. Department of Justice’s Office of the Pardon Attorney, asking President Donald Trump for a presidential pardon while he serves a 25-year prison sentence for fraud and conspiracy, Bitcoin Magazine reports.
The petition is listed as pending in DOJ records, and the DOJ’s clemency case status portal classifies it as a “pardon after completion of sentence.” The Office of the Pardon Attorney also confirmed that it does not disclose details of ongoing reviews to the public, according to Bitcoin Magazine.
What the filing asks Trump to do
Bankman-Fried’s request goes directly through the DOJ pardon process. Bitcoin Magazine says the office has the case listed as a request for a pardon after he completes his sentence.
The timing matters because he is also pursuing a simultaneous appeal of his conviction and sentence, Bitcoin Magazine adds.
In a phone interview with FOX Business correspondent Susan Li, Bankman-Fried said he expects the decision to come from the White House, not him. When Li asked whether he would want a pardon from the president, Bankman-Fried replied “Absolutely.” He added that it is “ultimately up to the president,” while refusing to comment on whether his family is lobbying the administration, Bitcoin Magazine reports.
Trump’s stance and the narrow space for clemency
Bitcoin Magazine reports that President Trump has said he will not pardon Bankman-Fried.
That matters because the clemency petition can still work as a pressure signal or a procedural placeholder, but it does not override the president’s stated position. DOJ’s Office of the Pardon Attorney can review petitions, yet Bitcoin Magazine says it does not disclose what it does during that review.
The outlet also situates the bid within a broader pattern of clemency after Trump returned to office, noting that Trump has granted clemency to other high-profile defendants, including Ross Ulbricht, Changpeng “CZ” Zhao, and BitMEX co-founders.
Why the case still looks different from “just an appeal”
Bankman-Fried’s pardon request comes after a conviction and a long sentence. Bitcoin Magazine says a New York jury found him guilty on all seven criminal counts in November 2023, and that he was sentenced on March 28, 2024 to 25 years in federal prison.
Bitcoin Magazine summarizes the trial record as follows.
- Prosecutors argued that Bankman-Fried misused billions of dollars in customer deposits to fund risky bets at Alameda Research.
- The prosecution also tied that conduct to financing political donations and real estate purchases.
- The court found FTX customers lost $8 billion, equity investors lost $1.7 billion, and lenders to Alameda Research lost $1.3 billion.
- Judge Lewis Kaplan ordered $11 billion in forfeiture.
Bankman-Fried’s defense posture while asking for mercy
Bitcoin Magazine also highlights how Bankman-Fried frames his own conduct during media appearances from prison.
When asked by Li whether he stole user funds, Bankman-Fried told FOX Business: “I didn’t steal user funds either.” He said customers have been repaid at “170% or so” on their deposits, describing the platform as “over-collateralized” and arguing that customers were “more than made whole.” Bitcoin Magazine reports he attributes the higher payouts to the recovery of cryptocurrency markets during the FTX bankruptcy process.
He also told Li that it was a “great disservice” for it to have taken three years.
That response lands inside a bigger problem for any pardon argument. Bankman-Fried is asking for executive relief while he maintains a narrative that focuses on customer repayment outcomes rather than the convictions and the forfeiture ordered by the court, Bitcoin Magazine reports.
Where the FTX story connects to the timeline
Bitcoin Magazine recalls that the FTX collapse began in November 2022 after CoinDesk reported on balance sheet concerns linking FTX to Alameda Research, which contributed to a customer run and exposed an $8 billion gap in the exchange’s accounts.
The outlet also points to testimony from key insiders. It says former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang testified against Bankman-Fried after pleading guilty and cooperating with federal prosecutors.
With the clemency request now pending, readers will need to watch two tracks at once. The DOJ process sits with the Office of the Pardon Attorney, while the conviction and sentence remain under appeal, Bitcoin Magazine says.
Key facts from Bitcoin Magazine
| Item | What the filing or record says |
|---|---|
| Petition target | DOJ Office of the Pardon Attorney request for a presidential pardon |
| DOJ status | Listed as pending in DOJ records |
| Portal classification | “Pardon after completion of sentence” |
| Sentence | 25 years in federal prison |
| Conviction summary | Guilty on all seven counts, including wire fraud and conspiracy |
| Sentencing date | March 28, 2024 |
| Forfeiture order | $11 billion |
| Reported losses | $8B customers, $1.7B equity investors, $1.3B Alameda lenders |
The real question: will the president revisit the stance?
Bitcoin Magazine reports Trump has already said he will not pardon Bankman-Fried. The clemency petition changes the procedural posture, but it does not erase that stated position.
Until DOJ’s pardon review results become public, the public record stays thin. The most concrete fact in this update is that Bankman-Fried has filed the request while his appeal continues. Everything else depends on actions that Bitcoin Magazine says are not disclosed during the review process.