Sam Bankman-Fried, CEO of the now-defunct FTX cryptocurrency exchange, has formally submitted an application to the U.S. Department of Justice's Office of the Pardon Attorney, seeking a presidential pardon from U.S. President Donald Trump.

 

The application, which falls under the category of "Pardon after completion of sentence," does not request that Trump shorten or end Bankman-Fried's 25-year prison sentence. Instead, it seeks a presidential pardon that would formally forgive his federal convictions for fraud and related charges, restore certain civil rights, and remove the legal stigma associated with a felony conviction.

 

Speaking in a phone interview with Fox Business correspondent Susan Li, Bankman-Fried acknowledged that he would welcome a presidential pardon from Trump. However, he declined to comment on whether his parents or anyone close to him had contacted the White House on his behalf.

 

With the application now filed, the Office of the Pardon Attorney will conduct a thorough review of the petition and verify the information provided. Since the application was submitted just two years into his 25-year sentence, the process could take months or even years to reach a decision. If approved by the reviewing authorities, the recommendation will be forwarded to the president, who may choose to grant, deny, or take no action on the request.

 

The pardon application comes just months after Bankman-Fried sought a retrial in March, requesting the introduction of new witnesses. The move was later opposed by some U.S. prosecutors.

 

Bankman-Fried is currently serving a 25-year prison sentence for his role in the collapse of the FTX cryptocurrency exchange. He was convicted of fraud after prosecutors accused him of secretly diverting customer funds to purchase luxury real estate, make large political donations, and engage in other forms of financial misconduct.

 

At trial, Bankman-Fried was found guilty of wire fraud, securities fraud, commodities fraud, and money laundering. He was subsequently sentenced to 25 years in prison. Despite his conviction, he continues to argue that the prosecution was unjust.

 

"I didn't steal user funds either," Bankman-Fried said during his phone interview with Susan Li of Fox Business. "Customers have been repaid now 170% or so on their deposits. I can only tell you what I think and, you know, ultimately, customers have been repaid again nearly twice what they had on the platform, and it's a great disservice to them that it has taken three years."

 

 

Sam Bankman-Fried, the former CEO of the defunct crypto exchange FTX, filed a motion in February seeking a retrial in his case. However, the request is reportedly being opposed by some U.S. prosecutors.

 

Some U.S. prosecutors have filed a motion in the United States District Court for the Southern District of New York, seeking to block Bankman-Fried’s latest request for a retrial, Bloomberg reports.

 

According to the prosecutors, Bankman-Fried’s argument that new witnesses could change the outcome of his case does not meet the standard for a retrial. They said the two witnesses he wants to call, Daniel Chapsky and Ryan Salame, both former FTX executives, do not qualify as new witnesses because they were already known to the defense and could have testified at the original trial.

 

“The defense’s decision not to put the witnesses on his witness list or compel their testimony forecloses any claim that their post-trial views are newly discovered,” prosecutors said.

 

The prosecutors also rejected Bankman Fried's claim that he was being weaponized by the Department of Justice, calling it "incoherent."

 

"The defendant was one of the largest Democratic donors in 2020 and 2022, and his campaign finance crimes were in furtherance of making those contributions, so the notion he was targeted for his Democratic politics by the prior presidential administration is fanciful," prosecutors added.

 

Although the motion has just been filed, the judge has not ruled on whether it will proceed. Nevertheless, this is Bankman-Fried’s third attempt to appeal his case.

 

 

Is a Presidential Pardon in Sight? 

After President Trump granted a presidential pardon to Changpeng Zhao, founder of Binance, rumors circulated that he might also pardon Sam Bankman-Fried.

 

Trump, however, has dismissed these rumors in several interviews, stating that he has no plans to pardon Bankman-Fried. Despite this, some online groups continue to speculate about a potential, well-funded effort to secure a pardon.

 

Until a pardon is issued, Bankman-Fried’s legal options remain limited to filing appeal motions. Otherwise, he must continue serving his 25-year prison sentence on multiple federal charges, including fraud, conspiracy, and money laundering.

 

In the bustling heart of New York City, a courtroom drama of epic proportions is unfolding, and the eyes of the world are fixed upon it. This high-stakes trial involves none other than Sam Bankman-Fried, the prominent figure in the cryptocurrency world. And bringing you the latest live updates from the frontlines is none other than the intrepid journalist, Tiffany Fong.

Caroline Ellison's Shocking Testimony

Today marked a pivotal moment in the trial as Caroline Ellison, one of Sam Bankman-Fried's top deputies and his former romantic partner, took the stand. The revelations that poured forth during her testimony sent shockwaves through the courtroom and the entire cryptocurrency community.

Ellison, who once oversaw the day-to-day operations at Alameda Research, a crypto trading firm controlled by Bankman-Fried, made some truly startling admissions. She testified that she was, in fact, directed by Bankman-Fried himself to engage in a series of financial misdeeds. Among her shocking claims, Ellison asserted that Alameda Research had taken a jaw-dropping $14 billion from FTX customers to repay debts accrued by the company.

A Trailblazing Reporter on the Scene

In the midst of this riveting courtroom drama, one journalist stands out for her dedication and commitment to delivering the latest updates straight from the scene. Tiffany Fong, the dynamic and fearless reporter, has positioned herself in the heart of the action. Despite the trial's non-televised nature and strict restrictions on electronic devices, Tiffany Fong is on the frontlines, ensuring that you don't miss a single development.

Following Tiffany Fong for Real-Time Updates

As this trial continues to captivate audiences worldwide, Tiffany Fong's reporting is your go-to source for real-time insights and in-depth analysis. Her dedication to delivering accurate and up-to-date information is nothing short of commendable. While other news outlets might be playing catch-up, Tiffany Fong is ahead of the curve. https://twitter.com/TiffanyFong_