No Ulbricht Treatment for SBF: Why a Pardon Is Unlikely

There’s one major difference: Ulbricht’s case is worlds apart from SBF’s. While Ulbricht distributed cheap bitcoins to future crypto billionaires, Bankman-Fried orchestrated one of the largest financial collapses in crypto history.

Lawyers, Lobbyists, and a Stroke of Luck

According to Bloomberg, the parents of disgraced ex-billionaire Sam Bankman-Fried—both law professors—are already in talks with lawyers and political insiders close to Trump about securing a presidential pardon. It’s unclear whether they’ve officially petitioned the White House, but they seem willing to knock on every possible door. After all, if it’s a “first-come, first-served” situation, why not take their chances?

Interestingly, Joseph Bankman and Barbara Fried have also been accused of profiting from FTX’s collapse. We covered these allegations in a previous article: “Were Sam Bankman-Fried’s Parents Behind the FTX Collapse?!”

Joseph Bankman & Barbara Fried. Source: CNN

So far, Bankman-Fried and his legal team have kept quiet, but it’s safe to assume he’s not looking forward to serving 25 years for fraud. Especially since he still believes his sentence is unfair—after all, some FTX customers have been reimbursed, he’s paid his fines, so what’s the issue?

Unfortunately for SBF, U.S. law doesn’t follow crypto logic—if the money vanishes first and gets returned later, it’s still a crime.

Trump and Crypto: A Complicated Relationship

The recent wave of pardon requests from white-collar criminals came right after Donald Trump commuted Ross Ulbricht’s sentence. Many now hope that the former president—who shifted from a crypto skeptic to a vocal supporter—will continue granting clemency to figures involved in high-profile digital asset scandals.

However, Sam Bankman-Fried faces a much tougher road. Unlike Ulbricht, he lacks strong support from libertarians and crypto enthusiasts. Instead of rallying for his release, much of the crypto community celebrates his conviction rather than demanding it be overturned.

Despite this, Bankman-Fried remains hopeful, believing that Trump might intervene in his “unjust fate.” He’s not the only one—his former FTX colleague Ryan Salame, who is serving a 10-year sentence, is also seeking a presidential pardon. 

The number of clemency requests has surged so dramatically that one legal expert recently admitted that hundreds of petitions are being submitted—not just by those already imprisoned, but also by recently convicted individuals and even those still awaiting trial.

Among those seeking a pardon could be Bitcoin evangelist Roger Ver, who has his own history of legal troubles. We previously covered his complicated relationship with U.S. authorities in our article: “Details About Roger Ver’s Case: The Bitcoin Investor Spoke Out.”

Ryan Salame, Co-Director of FTX’s Bahamas Branch. Source: CNN

A presidential pardon typically requires an official request to the Department of Justice, but as history shows, Trump doesn’t always stick to bureaucratic procedures.

Legal advisors confirm that Trump’s inner circle has already issued clear guidelines: cases involving violent crimes, sexual offenses, or illegal immigration will not be considered. In this sense, Bankman-Fried could be an ideal candidate—after all, his crime was “only” a massive financial fraud on a global scale.

He also shares an unexpected link with Trump: both had their cases overseen by the same judge. Lewis Kaplan, who sentenced Bankman-Fried, also presided over Trump’s legal battles involving sexual assault and defamation claims. 

Both Trump and Bankman-Fried have accused Kaplan of bias—could this be the common ground that works in SBF’s favor?

If You Don’t Ask, You Don’t Get

Renowned attorney and lobbyist Alan Dershowitz, who previously helped secure pardons during Trump’s first term, has admitted that he’s already receiving a flood of similar requests. However, he’s not in a hurry to take action just yet. “I said call me back in a month. Right now Trump is busy doing other things,” he reportedly told one hopeful petitioner.

So the question remains: Can Bankman-Fried convince the world he was unjustly convicted, like Ulbricht? Or will the disgraced crypto mogul spend the next decade debating DeFi with his cellmates? 

One thing is clear: his family isn’t backing down and seems willing to exhaust every possible option. The only question is whether the right door will open.