Sam Bankman-Fried has formally submitted a pardon application to the DOJ Office of the Pardon Attorney, according to sources familiar with the filing. The move comes more than two years after the former FTX CEO was convicted on seven counts of fraud and conspiracy and sentenced to 25 years in prison plus $11 billion in forfeiture. Bankman-Fried has consistently maintained his innocence, arguing that FTX suffered a liquidity crisis rather than a deliberate fraud.
Bunkmate's rebuke
Michael Avenatti, who shared a prison cell with Bankman-Fried, publicly criticized the pardon bid. Avenatti told reporters that Bankman-Fried “refused to accept any responsibility or admit wrongdoing” during their time together. Avenatti himself served time for defrauding clients and embezzling from Stormy Daniels, originally sentenced to 14 years — later reduced to roughly 11 — and ordered to repay $7 million. He expressed remorse at his own sentencing and was transferred to a halfway house in April 2026.
Trump's stance and the odds
President Donald Trump ruled out clemency for Bankman-Fried in a January 2026 interview with the New York Times, saying the former FTX chief wouldn't get a pardon. Despite that, prediction markets still see a sliver of hope: Polymarket puts the probability of a 2026 pardon at 7%. The timing isn't great for Bankman-Fried — Trump has already pardoned other crypto figures including Ross Ulbricht and Changpeng Zhao, but Bankman-Fried's case has drawn little sympathy from pro-crypto Republicans who view his crimes as fundamentally different.
A separate legal track
Bankman-Fried's conviction appeal continues on its own path. His legal team argues he was presumed guilty before trial, a claim that will be tested in federal appellate courts. The pardon application and the appeal run in parallel — one executive, one judicial. Neither is expected to move quickly, and with Trump's public opposition, the pardon request faces long odds. What remains unclear is whether the DOJ's pardon attorney will even recommend consideration, or if the application stalls before reaching the president's desk.
