TLDR
Trump will not grant clemency to FTX founder Sam Bankman-Fried, confirms White House.
Bankman-Fried continues appeals after being denied presidential pardon.
FTX founder faces multiple fraud and conspiracy convictions from March 2024.
Bankman-Fried shifted political stance toward Trump, but pardon was rejected.
The White House has confirmed that former President Donald Trump will not grant a pardon to Sam Bankman-Fried, the jailed FTX founder. Despite Bankman-Fried’s recent public shift toward conservative causes and efforts to gain Trump’s favor, the administration maintains that clemency is off the table. The FTX executive continues to pursue appeals following his 2024 fraud and conspiracy convictions.
President Trump Declines Clemency for FTX Founder
The White House confirmed that former President Donald Trump will not grant a pardon to Sam Bankman-Fried. Bankman-Fried is the founder of the collapsed cryptocurrency exchange FTX. A White House official stated that Trump’s position remains unchanged despite the executive’s previous willingness to pardon others in the cryptocurrency sector.
NEW: WHITE HOUSE SPOKESPERSON SAYS TRUMP HAS NOT INTENTION TO PARDON SBF – PER FORTUNE
SOURCE: https://t.co/aEFvhio9W1 pic.twitter.com/SFtuAihFcI
— DEGEN NEWS (@DegenerateNews) February 24, 2026
Trump had previously ruled out clemency for Bankman-Fried in an interview with The New York Times. He had granted pardons to other figures in the digital asset industry, including Changpeng Zhao and Arthur Hayes. However, the White House confirmed that Bankman-Fried would not be included in any clemency actions.
Bankman-Fried’s Political Shift and Pardon Attempt
While in federal prison, Bankman-Fried has attempted to secure a pardon by publicly aligning with Trump. He has recently posted messages criticizing the judiciary and supporting conservative causes, departing from his prior support for Democratic campaigns.
The former FTX CEO donated $5.2 million to Joe Biden’s 2020 campaign but made no comparable contributions to Trump. Observers note that this could have influenced the decision not to grant clemency. Bankman-Fried continues to challenge his conviction through the appeals process.
Conviction and Financial Collapse of FTX
Bankman-Fried was convicted in March 2024 on multiple counts of fraud and conspiracy. The charges are related to the misappropriation of customer deposits from FTX. His cryptocurrency exchange once had a valuation of $32 billion but filed for bankruptcy in November 2022.
The bankruptcy followed reports of risky financial practices and poor oversight. FTX’s collapse also caused the exchange’s native token, FTT, to lose nearly all value. At the peak of his wealth in early 2022, Bankman-Fried’s net worth was estimated at $26.5 billion, dropping to zero after the company’s failure.
Regulatory Scrutiny and Industry Reaction
The FTX collapse led to increased scrutiny of centralized cryptocurrency platforms. Regulators and policymakers have since pushed for stricter oversight to prevent similar financial failures. The case continues to affect public confidence in the cryptocurrency industry.
Bankman-Fried’s pardon bid and political maneuvering have drawn attention but have not produced results. Legal experts say his ongoing appeals will determine his future in the justice system. The White House’s confirmation signals a firm stance against granting clemency to the imprisoned executive.
