World · North America · 2 hrs ago
Sam Bankman-Fried Seeks Release and a Presidential Pardon
Sam Bankman-Fried, FTX's founder, said in a prison interview that he is innocent and wants to leave prison.
He is serving a 25-year sentence for fraud involving about $11 billion tied to FTX customers, investors and lenders.
He described FTX as a legitimate business that suffered a bank run, but the case involved transferring $8 billion from FTX to his trading firm, Alameda Research.
His lawyers are challenging an $11 billion forfeiture and pursuing a petition before the US Supreme Court.
Bankman-Fried is also seeking a presidential pardon from Donald Trump, though he called getting one an uphill battle.
A Senate resolution urged Trump not to pardon him, and no decision on a pardon is stated.
The case concerns the handling of customer money and accountability at a major cryptocurrency exchange.
Sam Bankman-Fried is seeking release from prison and a presidential pardon while serving a 25-year sentence for fraud involving FTX.
In an interview with The Economist’s Money Talks podcast, he continued to insist he was innocent and described FTX as a legitimate business hit by a bank run.
His lawyers are pursuing a petition before the Supreme Court and seeking a pardon from President Donald Trump.
Bankman-Fried said winning a pardon would be an uphill battle.
- Who
- Sam Bankman-Fried, founder of the FTX cryptocurrency exchange.
- What
- He is seeking release from prison and a presidential pardon while continuing to claim he is innocent.
- When
- The interview was reported on October 23, 2026. He was about three years into his 25-year sentence.
- Where
- In prison; the location is not stated.
- Why
- He says he was wrongly convicted and wants his case reconsidered. His lawyers are challenging an $11 billion forfeiture and seeking a pardon.
Sam Bankman-Fried
The account in the FTX fraud case
FTX’s collapse
Sam Bankman-Fried
Bankman-Fried described FTX as a legitimate business affected by a bank run.
The account in the FTX fraud case
The article says FTX was already insolvent and that the collapse followed the transfer of $8 billion to Alameda Research.
Responsibility for FTX’s failure
Sam Bankman-Fried
Bankman-Fried said he was weak when he needed to fight forces that took control of the company.
The account in the FTX fraud case
The article says FTX lacked effective corporate controls and that Bankman-Fried ran it as if clients’ money belonged to him.
Bankman-Fried put a restructuring expert in charge of FTX, who then filed for Chapter 11 bankruptcy.
Bankman-Fried praised Trump’s approach to pardons in a post on X.
Media outlets reported that Bankman-Fried had applied to the Justice Department for a pardon.
Gizmodo reported on Bankman-Fried’s prison interview with The Economist’s Money Talks podcast.
- Prison sentence
- 25 years
- Forfeiture at issue
- $11 billion
- Transfer to Alameda Research
- $8 billion
- Pardon sought from
- President Donald Trump
- Company
- FTX cryptocurrency exchange
What people are saying
a legitimate and successful business
Parties adverse to the company and stakeholders took control. When I needed to fight that, I was weak instead.
an uphill battle
All I can do is put forward, you know, the truth as I see it, and hope that parties are more reflective, and that there’s less visceral reaction than there was before.