Joseph Bankman and Barbara Fried, the parents of former FTX CEO Sam Bankman-Fried, are reportedly seeking a presidential pardon for their son, who is currently serving a 25-year prison sentence for fraud-related charges. A report indicates that they have consulted with lawyers and other individuals connected to the Trump administration to assess the feasibility of clemency. The appeal comes after Bankman-Fried's fall from grace in late 2022 when FTX collapsed, uncovering widespread fraud and mismanagement. His conviction in November 2023 on multiple charges, including wire and securities fraud, led to the severe sentencing on March 28, 2024. While some in the crypto community were hopeful previously with the Biden administration, there's a renewed optimism towards Trump, as many white-collar criminals have sought clemency from him, particularly after his recent actions regarding other high-profile cases. Bankman-Fried’s parents hope that this trend might lead to a reconsideration of his sentence, although their son’s case differs significantly from others that have gained clemency recently.

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