Less than three years after the collapse of FTX wiped out billions in customer assets and sent shockwaves through the cryptocurrency industry, Sam Bankman-Fried is publicly asking for something few expected: a presidential pardon.

Speaking from a federal prison cell, the disgraced crypto billionaire told FOX Business that he would “absolutely” welcome clemency from the White House, reigniting debate over one of the largest financial scandals in modern history.

The comments come as Bankman-Fried continues serving a 25-year prison sentence for fraud and conspiracy charges tied to the downfall of FTX, once one of the world’s largest cryptocurrency exchanges.

For investors, the interview offers a rare look into how the former crypto king views his conviction, the future of artificial intelligence, and even Elon Musk’s growing empire.

Bankman-Fried Makes His Case

During an exclusive interview with FOX Business correspondent Susan Li, Bankman-Fried did not hesitate when asked whether he wants a presidential pardon.

“Absolutely,” he said. “It would be obviously, ultimately up to the president, not up to me.”

However, he declined to reveal whether his parents or associates are actively lobbying the administration on his behalf.

When pressed on whether family members have contacted the White House, Bankman-Fried responded simply:

“I can’t speak for them.”

The comments immediately sparked speculation about whether a formal pardon effort may already be underway behind the scenes.

The $11 Billion Collapse That Changed Crypto

Bankman-Fried’s fall remains one of the most dramatic stories in financial history.

In November 2022, FTX imploded after revelations that customer funds had allegedly been improperly used to support risky bets at Alameda Research, the hedge fund he founded.

The bankruptcy sent shockwaves throughout the digital asset industry and triggered a broad crypto market selloff.

Federal prosecutors later argued that Bankman-Fried orchestrated a massive fraud that left:

FTX customers facing losses of roughly $8 billion
Equity investors losing approximately $1.7 billion
Alameda lenders suffering losses of roughly $1.3 billion

In March 2024, a federal judge sentenced him to 25 years in prison after he was convicted on two counts of wire fraud and five conspiracy-related charges.

The sentence effectively ended one of the fastest rises and falls ever seen in finance.

Why Bankman-Fried Says His Conviction Was Wrong

Despite the conviction, Bankman-Fried continues to maintain that the government’s case was fundamentally flawed.

His primary argument centers on the fact that bankruptcy recoveries have dramatically improved as cryptocurrency prices rebounded over the past several years.

According to Bankman-Fried, many former FTX customers are now expected to receive substantially more than the value of their original deposits.

“I didn’t steal user funds either,” he told FOX Business.

He added that customers have been repaid roughly 170% of their original deposits and argued that the exchange was ultimately over-collateralized.

“Customers have been repaid now 170% or so on their deposits,” he said. “It’s one of the very few cases where the platform was over-collateralized, where customers were more than made whole.”

Bankman-Fried also argued that the lengthy legal process delayed repayments unnecessarily.

“I can only tell you what I think and, ultimately, customers have been repaid again nearly twice what they had on the platform,” he said.

The Justice Department, however, successfully argued during trial that the criminal conduct involved the misuse of customer funds regardless of eventual recoveries resulting from subsequent market appreciation.

What a Presidential Pardon Would Actually Mean

A presidential pardon would not erase Bankman-Fried’s conviction from history, but it could significantly reduce or eliminate the remainder of his prison sentence.

The U.S. Constitution grants presidents broad authority to issue pardons for federal crimes.

Historically, pardons have often generated controversy when granted to high-profile political figures, business executives, or individuals involved in major financial scandals.

Any move to pardon Bankman-Fried would likely spark intense public debate given the scale of the FTX collapse and its impact on investors worldwide.

For now, there is no public indication that a pardon is imminent.

The Opportunity He Says He Missed

Perhaps surprisingly, Bankman-Fried spent part of the interview discussing what he believes may be the biggest investment trend of the decade: artificial intelligence.

Asked about missing major developments while incarcerated, he admitted that the AI boom has been difficult to watch from prison.

“It’s a concern I have,” he said.

Before FTX collapsed, Bankman-Fried had positioned himself as both a crypto entrepreneur and venture investor with exposure to emerging technologies.

Today, he says he would rather be helping shape the future of AI than watching from the sidelines.

“There is very little I can do” from prison, he acknowledged.

Why He’s Still Bullish on Elon Musk

Bankman-Fried also used the interview to praise Elon Musk, particularly Musk’s ability to build category-defining companies.

He singled out SpaceX as one of the most attractive long-term investment opportunities he sees.

“I think SpaceX has extremely large potential,” Bankman-Fried said.

According to him, very few companies are positioned to dominate the rapidly expanding space economy, and SpaceX remains among the strongest contenders.

He also credited Musk’s track record of scaling businesses.

“Very few people have been able to grow companies like Elon has,” he said.

The comments reflect a broader trend among investors who continue to view private space infrastructure, satellite communications, and defense-related technologies as major long-term growth opportunities.

What Investors Should Watch Next

Bankman-Fried’s interview is unlikely to change the legal outcome of his case anytime soon.

But it does highlight several developments investors should monitor.

First, any signs of a formal pardon campaign could quickly become a political flashpoint.

Second, the continued recovery of FTX creditors may reshape how future crypto bankruptcies are viewed by regulators and investors.

Finally, Bankman-Fried’s focus on artificial intelligence and SpaceX underscores where many sophisticated investors continue to see the largest opportunities for wealth creation over the next decade.

Whether or not he ever receives a presidential pardon, the former FTX founder appears determined to remain part of the conversation about technology, investing, and the future of financial markets.

For now, however, those conversations are taking place from behind prison walls.