White House Says Trump Has No Plans to Pardon FTX Founder

▲ Donald Trump, Sam Bankman-Fried, FTX/ChatGPT-generated image

On February 24 (local time), cryptocurrency media outlet CoinGape reported that the White House officially confirmed that President Donald Trump has no plans to pardon Sam Bankman-Fried, the founder of FTX.

White House Press Secretary Karoline Leavitt stated during a media briefing, “President Trump has absolutely no intention of pardoning Sam Bankman-Fried,” making it clear that there will be no leniency for Bankman-Fried, who is serving a prison sentence for embezzling billions of dollars in customer funds. Her remarks firmly dismissed recent speculation within parts of the crypto industry about the possibility of an SBF pardon.

Bankman-Fried was found guilty on seven counts, including misappropriating $8 billion in customer assets to cover losses at his affiliate Alameda Research and to finance political donations. Last year, the court sentenced him to 25 years in prison and ordered the forfeiture of $11 billion in assets. The collapse of FTX affected millions of victims and became a decisive event that severely undermined trust across the broader digital asset market. Leavitt emphasized that given the seriousness of these crimes, a pardon is not under consideration.

Since taking office, Trump has shown a receptive stance toward figures associated with the cryptocurrency industry, including granting a pardon to Ross Ulbricht, the operator of Silk Road. However, the White House views Bankman-Fried’s case as fundamentally different from technical violations or debates over excessive punishment, characterizing it instead as clear-cut fraud. The administration’s position reflects its firm view that supporting the development of the digital asset industry is separate from pardoning perpetrators of large-scale financial crimes.

This announcement demonstrates the administration’s commitment to ensuring regulatory clarity in the digital asset market and upholding justice. The refusal to pardon Bankman-Fried is expected to provide at least some consolation to victims and serve as a strong warning against similar crimes in the future. The Trump administration plans to support the growth of the cryptocurrency industry while applying strict standards to illegal activities.

Bankman-Fried is currently serving his sentence in prison and, following the White House’s latest statement, is expected to complete the remainder of his term. FTX’s bankruptcy proceedings are still ongoing, and legal battles over asset recovery and victim compensation are likely to continue for a considerable period. The government’s hardline stance is seen as a necessary step for the digital asset industry to establish itself as part of a sound financial system.

Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses arising from it. The content should be interpreted for informational purposes only.