Reports indicate that Sam Bankman-Fried, the founder of the collapsed FTX exchange, has formally applied for a presidential pardon from U.S. President Donald Trump.
The request comes as Bankman-Fried serves a prison sentence following his conviction in one of the largest fraud cases associated with the cryptocurrency industry. No official response has yet been issued regarding the application or its chances of approval.
Presidential pardons are a constitutional power of the U.S. president, though granting them remains a complex legal and political decision, particularly in high-profile cases that have drawn significant public attention.