White House Confirms No Pardon for SBF
The White House has definitively resolved speculation regarding presidential intervention in Sam Bankman-Fried's (SBF) legal proceedings by confirming former President Donald Trump will not issue a pardon. SBF's legal avenues for relief will now continue solely within the standard appeals process.
SBF was convicted on multiple counts of fraud and conspiracy related to the collapse of FTX and its sister trading firm, Alameda Research. Federal prosecutors alleged SBF misappropriated billions in customer funds, leading to FTX's November 2022 collapse and an estimated $8 billion shortfall.