Trump Rules Out SBF Pardon, Defends Pro-Crypto Position

Donald Trump rejects an SBF pardon, defends pro-crypto policies, cites political support, and contrasts decisions with prior crypto clemency actions.

President Donald Trump has ruled out pardoning former FTX chief Sam Bankman-Fried. According to The New York Times, Trump confirmed this position in a January 9, 2026, interview. Moreover, he defended his pro-crypto stance and said that it helped him gain votes.

Trump Rejects Clemency as SBF Appeal Continues

Sam Bankman-Fried is sentenced to 25 years in jail in 2023. The conviction included fraud and conspiracy in connection with the collapse of FTX. Currently, Bankman-Fried is appealing the ruling to the Second Circuit Court. Oral arguments reportedly started in November of 2025 according to court filings.

Interestingly, prosecutors attributed billions in customer losses to FTX’s failure. Court documents cited misusing customer funds and deceptive disclosures. As such, the sentence became one of the longest in crypto-related cases. Therefore, Trump’s refusal indicates a low tolerance for high-profile financial crimes.

Related Reading: Crypto News: CZ Lawyer Denies Pay-to-Play Claims Behind Trump Pardon | Live Bitcoin News

Bankman-Fried also had a weighty political history. He gave $5.2 million to the Biden campaign in 2020. Additionally, there were reports of his once considering paying Trump $5 billion to get out of the race. However, those claims have never been proven in legal proceedings.

Trump focused on making the point that the Bankman-Fried case isn’t similar to his own grievances. He argued that SBF was not politically targeted by prosecutors. Consequently, Trump refused to be compared to the alleged Justice Department overreach. This distinction was to shape his refusal to consider clemency.

Meanwhile, Trump reaffirmed his support of cryptocurrency innovation. He said that the adoption of crypto helped to widen his voter base. Moreover, he added that he has “come to like crypto” as time has gone on.

During his administration, some crypto-friendly initiatives arose. These included the formation of a Strategic Bitcoin Reserve. In addition, a federal task force was established that would help improve regulatory clarity.

Pro-Crypto Policies Contrast With Past Clemency Decisions

Trump’s position stands against his October 2025 pardon of Changpeng “CZ” Zhao. Former Binance chief Zhao was clemenced after regulatory settlements. Trump couched that decision as ending a perceived “war on cryptocurrency.” Consequently, critics raised the inconsistency between both cases.

However, allies believe that the circumstances are very different. Binance settled and agreed to pay more than $4.3 billion in fines. In comparison, FTX collapsed due to insolvency and customer losses. Therefore, Trump’s camp insists on the results of separate judgments.

The larger crypto market is still scaling despite the regulatory attention. The global market capitalization is approaching $3.9 trillion. Approximately $2.25 trillion of that total is due to Bitcoin alone.

Industry analysts say Trump’s comments could put institutional investors at ease. Clear boundaries between supporting innovation and criminally enforcing against fraud are valuable to markets. Moreover, predictable policy signals can help reduce volatility. Thus, the interview had implications beyond domestic politics.

However, SBF’s appeal faces high hurdles. Appellate courts only rarely overturn jury verdicts in the absence of procedural mistakes. Consequently, the 25-year sentence is likely to be intact. This reality further restricts the prospects of political intervention.

Ultimately, Trump’s comments speak to changing crypto narratives in Washington. Support for innovation now comes along with firm enforcement boundaries. As elections loom, crypto policy may drive voter engagement even more. Therefore, the SBF decision is not only a matter of legal finality, but a matter of political calculation as well.

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