US Government Given Two-Week Deadline to Respond to Bankman-Fried's Request for Retrial
While White House sources indicate no presidential pardon is forthcoming, the imprisoned former cryptocurrency exchange chief presses forward with legal challenges.
Federal prosecutors handling the criminal case against former FTX chief executive Sam "SBF" Bankman-Fried must file their response within a fortnight to his request for a fresh criminal trial.
According to a Wednesday court document filed with the US District Court for the Southern District of New York, Judge Lewis Kaplan has mandated that federal prosecutors submit their response no later than March 11 regarding SBF's petition for retrial. The disgraced cryptocurrency executive, found guilty on seven felony charges in 2023 and subsequently given a 25-year prison term, filed his motion for a new trial earlier this month, asserting that previously unavailable witness testimony could strengthen his defense.
Once celebrated by numerous observers as among the most influential personalities in the cryptocurrency and blockchain sector, Bankman-Fried found himself embroiled in the scandal surrounding FTX's dramatic implosion. He resigned from his position as chief executive in November 2022, subsequently facing federal criminal prosecution in the United States for allegedly misappropriating customer deposits.
Following Kaplan's decision in March 2024 to impose a 25-year prison sentence on the former executive, SBF's legal team submitted an appeal challenging both the guilty verdict and the sentencing determination. At the time of Thursday's update, the US Court of Appeals for the Second Circuit had yet to issue a decision on the appellate filing.
Caroline Ellison, who previously served as chief executive of Alameda Research and provided testimony against SBF during the trial as part of her cooperation agreement with federal prosecutors, regained her freedom in January after spending 440 days in federal detention. Meanwhile, Ryan Salame, who held the position of co-CEO at FTX Digital Markets, received a prison sentence exceeding seven years and continues to be held in custody as of this writing.
Is Bankman-Fried angling for a presidential pardon?
Despite maintaining a low profile on social platforms throughout his initial year of incarceration, Bankman-Fried subsequently began publishing posts expressing support for US President Donald Trump and disputing various narratives surrounding FTX's downfall.
During March 2025, SBF participated in a sit-down interview with conservative political commentator Tucker Carlson — an appearance that allegedly resulted in his relocation to a different federal prison facility — during which he asserted that his connections with Republican politicians were stronger than those with Democratic counterparts.
Throughout this year, he has published multiple posts on X, alleging that "political bias" influenced the proceedings in his criminal case. Bankman-Fried commended Trump's efforts in "standing up" to such perceived bias, simultaneously criticizing Kaplan for his role presiding over the civil defamation lawsuit filed against the then-presidential candidate in 2023.
Nevertheless, notwithstanding Bankman-Fried's various attempts and widespread conjecture within the cryptocurrency community, White House officials have consistently stated that Trump has no intention of granting clemency to the former cryptocurrency exchange chief, as indicated in a January interview with the New York Times and confirmed by a Tuesday Fortune magazine report. Since assuming office, Trump has issued pardons to multiple individuals associated with the cryptocurrency and blockchain space, including former Binance chief executive Changpeng Zhao and Ross Ulbricht, who founded the Silk Road marketplace.