Joseph Bankman and Barbara Fried are actively exploring legal pathways to reduce their son’s sentence, amid growing speculation about potential clemency from Donald Trump.
By Bena Ilyas
Edited by Marco T. Lanz
Updated
3 mins read
Sam Bankman-Fried’s parents, both Stanford Law professors, have reportedly been working behind the scenes to secure a presidential pardon from Donald Trump. After their son received a 25-year prison sentence for fraud tied to the downfall of FTX, they turned to legal experts and individuals within Trump’s network for guidance.
Bloomberg reports that Joseph Bankman and Barbara Fried have held multiple discussions regarding possible clemency. While there has been no confirmed direct contact with the White House, sources suggest they are actively exploring legal pathways to reduce their son’s sentence.
The recent efforts from SBF parents follow a surge in clemency requests, particularly among white-collar criminals hoping to leverage Trump’s history of granting pardons outside formal channels. A legal advisor, Jeffrey Grant, highlighted the growing interest in Trump’s potential pardons, stating:
“We have been hearing from people in prison, from people recently sentenced who haven’t reported to the Bureau of Prisons yet, from people who have been indicted. They are looking for somebody who knows somebody.”
Donald Trump’s history of granting clemency to high-profile individuals has fueled speculation about Bankman-Fried’s chances. One of the most notable cases is that of Ross Ulbricht, the Silk Road founder, who was convicted on charges of drug trafficking and money laundering. Despite years of legal battles, Ulbricht secured a full pardon from Trump last week after serving 11 years in prison.
The Silk Road case has become a point of reference in discussions surrounding Bankman-Fried’s potential pardon. However, unlike Ulbricht, the disgraced crypto billionaire lacks widespread public support. His argument for clemency hinges on claims that most FTX customers have recovered their funds, a point that some legal analysts believe could work in his favor.
White-collar prison consultant Sam Mangel, who has worked on multiple clemency cases, confirmed that Trump’s advisors have been steering clear of crimes involving violence, sex offenses, or illegal immigration. Fraud cases, however, remain a gray area, leaving Bankman-Fried’s fate uncertain.
As Trump prepares for a potential 2024 presidential run, his stance on cryptocurrency has shifted dramatically. Once a critic of digital assets, he has embraced the industry, drawing support from crypto advocates and those seeking regulatory rollbacks. His administration recently announced a national digital asset stockpile initiative led by AI and Crypto Czar David Sacks, further strengthening his ties to the sector.
This evolving stance has increased speculation over whether Bankman-Fried, a once-prominent figure in crypto, might benefit from Trump’s pro-digital asset policies. On Kalshi, a betting market, odds of an SBF pardon rose to 8% following reports of his parents’ legal efforts.
The parents of Sam Bankman-Fried are working on a pardon from President Trump for their son, per BBG
— Kalshi (@Kalshi) January 30, 2025
His odds of a Trump pardon have increased to 8% today pic.twitter.com/KMmKtMg0mI
Meanwhile, Ryan Salame, a former FTX executive serving a seven-year sentence, is also reportedly seeking a pardon. The mounting list of individuals looking to Trump for clemency underscores the growing influence of his inner circle in shaping legal outcomes.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
