In a recent interview with The New York Times, U.S. President Donald Trump categorically stated he has “no intention” of pardoning Sam Bankman-Fried (SBF), the convicted founder and former CEO of FTX. SBF was sentenced in 2023 after the collapse of FTX, once one of the largest cryptocurrency exchanges. Reports from 2025 indicated that SBF’s parents, Stanford Law School professors Joseph Bankman and Barbara Fried, had been actively seeking avenues to approach Trump and leverage influence for a pardon. Trump’s firm denial effectively ends those hopes.
Diddy’s Letter Requesting Pardon Revealed
During the same interview, Trump disclosed that he received a letter from Sean Combs, also known as Diddy, asking for a pardon for his 50-month sentence related to prostitution charges. Trump confirmed he would not grant this request either, emphasizing that pardon decisions must be based on strict legal grounds.
SBF Parents’ Extensive Efforts
In January 2025, legal advisor Jeffrey Grant told Bloomberg that SBF’s parents were “looking for somebody who knows somebody” to get close to Trump. This strategy was influenced by the numerous pardons Trump had granted since taking office, including high-profile crypto-related figures such as Binance founder Changpeng Zhao, BitMEX co-founder Arthur Hayes, and Silk Road creator Ross Ulbricht. However, SBF’s case proved more delicate, with Trump drawing a clear line.
Trump’s Crypto Stance and Controversies
In the interview, Trump defended his shift in attitude toward cryptocurrencies, claiming he “got a lot of votes because I backed crypto, and I got to like it.” He reinforced that the U.S. push for crypto was in opposition to China: “China wanted it, and one of us was going to get it.” However, the Trump family has faced criticism for its deep involvement with crypto companies, particularly World Liberty Financial, which has generated profits of over $1 billion from token sales. Critics argue this blurring of public-private lines may create conflicts of interest.
Overall, Trump’s explicit denial means SBF will not receive a presidential pardon anytime soon, and Diddy’s request meets the same fate. This decision highlights Trump’s contradictory approach to the crypto industry: pardoning some industry figures while distancing himself from more controversial cases.