U.S. President Donald Trump has ruled out the possibility of granting a pardon to former FTX chief executive Sam Bankman-Fried, distancing himself from one of the most prominent figures in the cryptocurrency industry’s recent collapse.
In an interview with The New York Times, Trump said he has no intention of intervening in Bankman-Fried’s case, despite renewed speculation following Trump’s return to office and his increasingly vocal support for digital assets.
Bankman-Fried, commonly known as SBF, was sentenced in 2023 to 25 years in prison after being convicted on multiple counts of fraud and conspiracy tied to the dramatic downfall of crypto exchange FTX.
Bankman-Fried is currently appealing the conviction, arguing that legal errors and prosecutorial overreach undermined his right to a fair trial. Federal prosecutors, however, accused him of orchestrating one of the largest financial frauds in U.S. history, misusing billions of dollars in customer funds through the now-defunct exchange.
Trump’s comments also come amid renewed scrutiny of Bankman-Fried’s political ties. Court records and public disclosures show that SBF donated approximately $5.2 million to support President Joe Biden’s 2020 campaign, making him one of the largest individual donors of that election cycle.
Trump has frequently cited those donations as evidence that Bankman-Fried was closely aligned with Democratic political leadership prior to FTX’s collapse.
During the interview, Trump also defended his administration’s increasingly pro-crypto posture. He said his embrace of digital assets helped him attract new voters, particularly younger and tech-focused constituents, and added that he has “come to like crypto” over time.
Trump has positioned himself as a contrast to what he describes as the previous administration’s hostile stance toward the industry.
Since returning to the office, Trump has supported clearer regulatory frameworks for digital assets and praised the role of cryptocurrencies and stablecoins in reinforcing U.S. financial leadership. However, his remarks on Bankman-Fried signal a clear boundary between broader crypto adoption and accountability for alleged misconduct.
By rejecting the idea of a pardon, Trump underscored that even as he courts the crypto vote, he does not intend to extend clemency to figures convicted of large-scale financial crimes.