Sam Bankman-Fried seeks Trump pardon

Sam Bankman-Fried, the founder and former CEO of the now-defunct cryptocurrency exchange FTX, has requested a pardon from former President Donald Trump. Bankman-Fried is currently serving a 25-year prison sentence after being convicted in November 2023 on charges of fraud and conspiracy related to the misappropriation of billions of dollars in customer funds from FTX. The request for a presidential pardon was reportedly made in the months leading up to his sentencing. FTX collapsed in November 2022, leading to significant financial losses for its customers and triggering widespread regulatory scrutiny of the crypto industry. Bankman-Fried's legal team has argued for leniency, citing his youth and lack of prior criminal record, but prosecutors sought a lengthy sentence to reflect the scale of the financial crimes. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) also pursued civil actions against Bankman-Fried and FTX.