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President Donald Trump has canceled the pardon of Sam Bankman-Fried, disrupting a series of speculations that have been circulating in cryptocurrency circles, such as the imprisonment of the founder of FTX to fight his convictions and look for political solutions.
Trump sent this message to… Full interview with the New York Timeswhere he also answered questions about forgiving other celebrities, including Sean “Diddy” Combs.
A jury convicted Bankman-Fried in November 2023 of fraud and conspiracy charges related to the misappropriation of billions of dollars in client funds. A judge sentenced him in March 2024 to 25 years in prison, and he appealed his decision and found him guilty.
The issue of forgiveness has not stopped yet. Bloomberg reported in January 2025 that Bankman-Fried’s parents, Stanford law professors Joseph Bankman and Barbara Fried, began exploring ways to obtain a pardon through meetings with lawyers and people connected to the Trump court.
From Silk Road to Binance, Trump has shown his willingness to pardon crypto figures
Trump’s ambiguous response is evident because he has shown a willingness to use amnesties in crypto-related cases. He pardoned Silk Road founder Ross Ulbricht in January 2025, a decision welcomed by some activists and Bitcoin supporters.
He later pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, as well as others associated with the platform, after being indicted under the Bank Secrecy Act.
Trump later pardoned Binance founder Changpeng “CZ” Zhao on October 23, citing Binance’s history of coercion.
When White House press secretary Carolyn Leavitt was asked about Chao’s pardon, the president said he “used his power,” saying Chao “is being blamed by the Biden administration for their war on cryptocurrencies.”
Traders’ anger over the collapse of FTX leaves no room for mercy
The Bankman-Fried case is in a different category for many investors, who are familiar with the regulatory battle and the fallout that has hurt customers and investors across the industry.
In the same interview, Trump defended his adoption of the digital economy as both political and strategic. He said: “I got a lot of votes because I supported cryptocurrencies, and I loved them. China wanted them, and one of us had to get them.”
For Bankman-Fried, there was no choice but to turn to the courts. His appeal is still ongoing, and Trump’s recent comments indicate that any campaign to pardon the former chief of staff will be rejected in the White House.
A note President Trump says there will be no pardon for Sam Bankman-Fried appeared for the first time Cryptonews Arabic.
