FTX Co-Founder Sam Bankman-Fried Formally Applies for Pardon

The digital token connected to the embattled cryptocurrency exchange surged 50 percent.

Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court in New York City, on Aug. 11, 2023. Michael M. Santiago/Getty Images

Sam Bankman-Fried, co-founder of cryptocurrency exchange FTX, has formally applied for a pardon from President Donald Trump, according to the Department of Justice.

On the Office of the Pardon Attorney website, Bankman-Fried sought a “pardon after completion of sentence,” and the status remains “pending.”