Trump Administration Confirms No Pardon for FTX Founder Sam Bankman-Fried

US President Donald Trump's administration has confirmed that he will not grant a pardon to Sam Bankman-Fried (SBF), the founder of collapsed cryptocurrency exchange FTX.

This decision comes after SBF launched a campaign for a pardon, despite being convicted on seven fraud and conspiracy counts in November 2023. The White House spokesperson cited Trump's previous comments stating that he did not plan to pardon SBF.

SBF is currently serving a 25-year prison sentence and has been accused of defrauding customers, lenders, and investors through his exchange. His campaign for a pardon was seen as a long shot due to his reputation as one of the top donors to the Biden administration and his villainous status in the crypto industry.

The White House spokesperson emphasized that Trump is the ultimate decider on all pardons, and this decision provides a setback for SBF's efforts. SBF has recently sought a new trial, claiming that the government withheld information and harmed his defense.