Sam Bankman-Fried, the former FTX CEO now serving a 25-year federal prison sentence, has formally applied for a presidential pardon. The application was submitted to the U.S. Department of Justice’s Office of the Pardon Attorney on June 8, 2026, according to clemency records made public. Bloomberg first reported the filing.
The clemency submission
The pardon application is listed in the DOJ’s online clemency database, making it the first official step in Bankman-Fried’s bid for executive mercy. He was convicted in 2023 for orchestrating the collapse of FTX, once one of the world’s largest cryptocurrency exchanges. His 25-year sentence was handed down in early 2024, and he has been incarcerated since. The application does not reveal the specific arguments Bankman-Fried’s legal team made, but it marks the start of a formal review process.
Why now?
Bankman-Fried’s sentence leaves him eligible for release in the late 2040s, barring any successful appeal or commutation. A presidential pardon could reduce that term or wipe out the conviction entirely. The timing of the application — about two and a half years after his sentencing — is a standard window for filing a clemency request. The Office of the Pardon Attorney typically requires inmates to wait at least several years before applying, though no strict deadline exists.
The review process
The Office of the Pardon Attorney will now examine the application, including background checks, victim impact statements, and a review of the case record. The office then sends a recommendation to the president, who has sole authority to grant or deny a pardon. The process has no set timeline; some applications languish for years. Bankman-Fried’s high profile and the massive financial harm caused by FTX’s collapse — affecting millions of customers and investors — are likely to draw scrutiny from both the Justice Department and the White House.
No decision has been announced. The application remains publicly accessible on the DOJ’s clemency page.
