Sam Bankman-Fried, founder of FTX, applies for pardon from President Donald Trump.
Key facts
- •Sam Bankman-Fried, founder of FTX, has applied for a pardon from President Donald Trump.
- •Bankman-Fried is serving a 25-year sentence for multiple federal charges related to FTX and Alameda Research.
- •He has maintained his innocence and is currently appealing against his sentence.
- •A pardon after completion of sentence would mean his conviction would be forgiven after serving his jail sentence.
- •There are over 20,000 requests for pardon or commutations, including Bankman-Fried's application.
Sam Bankman-Fried, the 34-year-old founder of cryptocurrency exchange FTX, has applied for a pardon from President Donald Trump. Bankman-Fried is currently serving a 25-year sentence for multiple federal charges related to FTX and its related company Alameda Research.
Background and Charges
Bankman-Fried was convicted of multiple federal charges related to FTX and Alameda Research. He has maintained his innocence and is currently appealing against his sentence. The firm collapsed in 2022 amid claims that Bankman-Fried had been using deposited funds for personal investments and debts.
Pardon Application
Bankman-Fried's application for a pardon after completion of sentence would mean his conviction on various counts of fraud would be forgiven after he serves his jail sentence. He has not asked for a commutation, which is a shortening of a criminal sentence being served.
This article was independently rewritten by ManyPress editorial AI from reporting originally published by BBC Technology.
