Former Inmate Speaks Out After Sam Bankman-Fried Files for Trump Pardon

Legal & Crime, Regulation & Policy Criminal Fraud, FTX, Michael Avenatti, Pardon Application, Prison Interview, Sam Bankman-Fried, Trump Pardon

Michael Avenatti, Sam Bankman-Fried’s former prison bunkmate, publicly slammed the FTX founder’s bid for a Trump pardon on Monday, saying SBF refused to accept responsibility and never once admitted wrongdoing.

Avenatti posted hours after it became public that Bankman-Fried had formally submitted a pardon application to the DOJ Office of the Pardon Attorney, escalating his long-shot campaign for early release.

Sam Bankman-Fried and I were prison bunkmates and I know him well. So I read this with more context than most.

Sam and I argued more than once about the same thing: his refusal to accept ANY responsibility for what he did. Not once did he admit he’d done anything wrong — even… https://t.co/7FHJelX1gx

— Michael Avenatti (@MichaelAvenatti) June 8, 2026

No Accountability from the FTX Founder

Avenatti wrote that the two argued repeatedly inside prison about Bankman-Fried’s refusal to acknowledge his crimes. Not once, he said, did SBF admit he had done anything wrong.

Avenatti argued that without that acknowledgment, Bankman-Fried could not legitimately earn a pardon.

The statement carries unusual credibility. As a fellow convicted fraudster who shared a cell with Bankman-Fried, Avenatti spoke from direct personal observation rather than outside commentary.

SBF’s formal pardon filing caps months of pro-Trump social media posts and prison interviews. Bankman-Fried has maintained his innocence, arguing FTX faced a liquidity crisis rather than deliberate fraud.

Courts found him guilty in November 2023 of seven counts of fraud and conspiracy, and a judge sentenced him to 25 years, plus $11 billion in forfeiture, in March 2024.

Why Avenatti’s Sentence Puts SBF’s Pardon in Context

Avenatti himself served time for defrauding clients. He also embezzled roughly $300,000 from Stormy Daniels, the adult film actress he once represented as an attorney. A judge sentenced him to 14 years, later reduced to around 11, and ordered him to repay $7 million.

At his sentencing, Avenatti told the court he was “deeply remorseful and contrite” and hoped his victims would someday forgive him.

He transferred to a halfway house in April 2026, having served his sentence at the same facility as Bankman-Fried. SBF’s ongoing conviction appeal, which argues he was presumed guilty before trial, continues on a separate legal track.

Sam Bankman-Fried Pardon Odds. Source: Polymarket

Why the Pardon Odds Remain Low

Trump ruled out SBF clemency in a January 2026 New York Times interview. Courts have also rejected early release requests since his sentencing.

The DOJ will review the application under standard procedures, though presidents can act independently of that process.

While Trump pardoned other crypto figures, including Ross Ulbricht and Binance’s Changpeng Zhao, SBF’s case has drawn little sympathy from pro-crypto Republicans.

Polymarket puts his 2026 pardon odds at just 7%, and Avenatti’s first-hand account of unrepentant prison conversations gives critics fresh ammunition.

The post Former Inmate Speaks Out After Sam Bankman-Fried Files for Trump Pardon appeared first on BeInCrypto.

Sam Bankman-Fried formally requests Trump pardon after months of public lobbying from prison

Legal & Crime, Regulation & Policy Clemency Application, Crypto Legal, Federal Prison, FTX, Sam Bankman-Fried, Trump Pardon, White House

Sam Bankman-Fried has filed a formal clemency application with the White House via the Justice Department’s Pardon Attorney’s Office.

This caps months of public overtures toward President Donald Trump from his federal prison cell.

The request faces long odds as Trump said in January he would not pardon the convicted FTX founder, and the White House reiterated on Sunday that it has no plans to grant one.

From tweets to formal petition

The formal application comes after a sustained, visible campaign by Bankman-Fried to curry favor with the Trump administration.

The former crypto executive has used posts on X to praise the president’s economic agenda, commend his approach to deregulation, and encourage offshore crypto firms to return to the United States, according to Cryptopolitan’s earlier reporting.

When asked in a prison phone interview with FOX Business correspondent Susan Li whether he wanted a pardon, Bankman-Fried replied without hesitation, “Absolutely,” adding, “It would be obviously, you know, ultimately up to the president, not up to me.”

He refused to say whether his parents or anyone else was lobbying the administration on his behalf, telling Li that he can’t speak for them.

Li noted on X that the White House “has said they have no intentions of granting him one.”

What is SBF saying about the charges that led to his conviction?

Throughout the interview, Bankman-Fried maintained the position he has held since his arrest, which is that he did not commit fraud.

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

Pointing to the FTX bankruptcy estate’s payouts, he claimed that customers have received roughly 170% of their deposits back and called it “a great disservice to them that it has taken three years.”

However, the federal jury that convicted Bankman-Fried on seven felony counts, including wire fraud and conspiracy in November 2023, saw it differently.

Judge Lewis Kaplan sentenced him to 25 years in March 2024. According to court findings, FTX customers lost $8 billion, equity investors lost $1.7 billion, and lenders to Bankman-Fried’s hedge fund Alameda Research lost $1.3 billion.

Trump pardoned CZ and Ulbricht, not SBF

President Trump has pardoned a few crypto executives since resuming office in 2025. Notable names are Silk Road founder Ross Ulbricht, who was pardoned in January 2025, and former Binance CEO Changpeng Zhao in October 2025.

Trump told The New York Times in January that he had no intention of pardoning Bankman-Fried, grouping him with music producer Sean Combs and former Senator Robert Menendez as people who would not receive clemency.

What legal appeals are still in play?

Bankman-Fried is not exploring the pardon route as the only avenue in securing his freedom.

His legal team appeared before the US Court of Appeals for the Second Circuit in November 2025, seeking to overturn the conviction. If the appeals court upholds the conviction, he could petition the Supreme Court for review.

In April, Bankman-Fried withdrew a separate motion for a new trial, writing to Judge Kaplan that he might refile after his direct appeal concludes and the case is reassigned.

Prediction markets skeptical

Bettors on the prediction market platform, Polymarket, price the chance of Bankman-Fried leaving custody by the end of 2026 at 6%, with roughly $383,000 in volume on the contract.

Presidential pardons are rare, discretionary, and typically involve a lengthy Justice Department review process.

The Second Circuit’s ruling on Bankman-Fried’s appeal could land at any time. A favorable decision would reshape his legal position far more than a pardon request the White House has already signaled it will reject.

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