Jailed FTX Founder Sam Bankman-Fried Seeks Clemency from Trump, as Parents Meet with Lawyers in His Orbit

Jailed FTX founder Sam Bankman-Fried, is now seeking clemency from President Donald Trump. Meetings by his parents, Stanford Law School professors Joseph Bankman and Barbara Fried, with lawyers and key figures in Trump's orbit have fueled rumors about a potential pardon.

Jailed FTX founder Sam Bankman-Fried is reportedly seeking clemency from former President Donald Trump.

According to March 27 reports, meetings between Bankman-Fried’s parents, Stanford Law School professors Joseph Bankman and Barbara Fried, with lawyers and key figures in Trump’s orbit have fueled rumors about a potential pardon.

The crypto innovator-turned-convicted felon received a 25-year sentence in March 2024 for the forfeiture of $8 billion from FTX customers. Since then, over two dozen letters have been filed to plead for the judge’s leniency.

Bankman-Fried’s lawyers also asked U.S. District Judge Lewis Kaplan to sentence him to no more than 6.5 years, citing his mental health conditions and charitable endeavors.

While there is no official confirmation from the White House, Trump’s pardon of Silk Road founder Ross Ulbricht and the changing stance on cryptocurrency have led many to speculate on the next potential chapter in Trump’s pro-crypto narrative.

Unlike Ulbricht, who garnered grassroots support from libertarians and crypto enthusiasts, Bankman-Fried lacks the same level of public backing.

However, Trump's shift from crypto skepticism to support, coupled with his recent meeting with Bankman-Fried’s parents, has instilled hope among white-collar defendants.

As of now, legal representatives for Bankman-Fried, who has already filed an appeal against his 2023 conviction, have declined to comment on the matter.

The news comes as the FTX estate achieves a major legal breakthrough. After two years of intense legal wrangling, LayerZero CEO has confirmed a settlement agreement with the FTX estate.

“Ultimately we decided this was not us versus FTX but us versus creditors,” stated the CEO, highlighting the return of the original repurchase amount to the estate.

Related: Kraken Begins FTX Claims Payouts for Creditors Under $50K

FTX had initiated legal action to recover over $21.3 million in crypto deposits made by LayerZero Labs in 2022, which were withdrawn in the 90 days preceding FTX’s bankruptcy declaration. The resolution comes at a substantial cost, underscoring the prolonged challenges faced by the defunct exchange and its creditors.

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