SBF formally applies for a Trump pardon, potentially bringing new developments to the FTX case.

CoinFeed reported on June 8th that, according to Bloomberg, FTX co-founder Sam Bankman-Fried (SBF) has formally requested a presidential pardon from US President Donald J. Trump. Bankman-Fried was sentenced to 25 years in prison in 2024 for fraud and misappropriation of customer funds related to the FTX collapse. It is unclear whether the White House will consider the application, nor has it disclosed the reasons for the application or details of the specific legal procedures. If Trump ultimately grants a pardon, SBF will become one of the most controversial presidential pardon cases in the history of the crypto industry. However, presidential pardons are highly discretionary, and the probability of approval is usually low, often requiring a lengthy review process.