Sam Bankman-Fried, the disgraced founder of the collapsed cryptocurrency exchange FTX, is reportedly seeking a presidential pardon from Donald Trump in an effort to block his extradition to the United Kingdom. The former FTX CEO, who is currently serving a 25-year sentence in a US federal prison for fraud and conspiracy, has engaged legal representatives to explore the possibility of a pardon, according to sources familiar with the matter.
Bankman-Fried, 32, was convicted in November 2023 on seven counts of fraud and conspiracy related to the collapse of FTX, which led to billions of dollars in losses for investors and customers. He was also found guilty of operating a “massive” scheme to deceive customers and lenders, and of money laundering. In March 2024, he was sentenced to 25 years in prison and ordered to forfeit $11 billion.
The UK has requested his extradition to face charges of fraud and money laundering linked to FTX UK, a subsidiary of the exchange. The extradition request, filed in early 2025, has been held up by legal proceedings in the United States, where Bankman-Fried is currently incarcerated. His legal team argues that a presidential pardon would nullify the extradition request on the grounds that the underlying conduct would no longer be a crime under US law.
Bankman-Fried’s pursuit of a Trump pardon is seen as a long shot. Trump, who is expected to be the Republican nominee in the 2024 election, has not publicly commented on the request. However, sources close to the former president indicate that he is unlikely to intervene in a case that has drawn widespread condemnation from both political parties.
Legal experts doubt that a US presidential pardon would block extradition to the UK. “Extradition is based on the principle of dual criminality,” said Professor James Crawford, a legal scholar at the University of Oxford. “If the conduct is a crime in both countries, extradition can proceed regardless of a pardon. A pardon in the US does not erase the fact that a crime was committed under UK law.”
The UK Home Office declined to comment on the extradition request, citing ongoing legal proceedings. However, a spokesperson reaffirmed the government’s commitment to “ensuring that those who commit financial crimes face justice.”
Bankman-Fried’s attempts to evade extradition have been met with skepticism by victims of the FTX collapse. “He took our life savings,” said one investor, who requested anonymity. “He should face justice in the UK as well.”
The case highlights the complexities of international financial crime prosecutions and the limits of executive clemency in cross-border matters. For now, Bankman-Fried remains at the Federal Correctional Institution in Sheridan, Oregon, while his legal team pursues all available avenues to avoid further incarceration abroad.
