Sam Bankman-Fried, the disgraced founder of FTX, has publicly endorsed former President Donald Trump’s pardon of his former cellmate, ex-Honduran President Juan Orlando Hernández, a move widely interpreted as a strategic bid for his own clemency.
Bankman-Fried described Hernández as “one of the kindest and most dedicated,” stating that “few are more deserving” of a presidential pardon. This support comes despite Hernández’s conviction in 2024.
Hernández was found guilty of conspiracy to import cocaine into the United States and illegal possession of weapons. He had been sentenced to 45 years in prison before receiving the pardon.
Former President Trump justified the clemency by asserting that Hernández had been treated “very harshly and unfairly” by the U.S. justice system.
Bankman-Fried himself remains incarcerated, having been sentenced to 25 years in prison in March 2024. A federal jury convicted him in 2023 on seven charges related to fraud and conspiracy.
Prosecutors accused Bankman-Fried of embezzling approximately $8 billion from FTX customers. These funds were allegedly diverted to finance investments, personal expenses, and political contributions.
The two high-profile figures shared a cell at a federal detention center in New York, a bond Bankman-Fried cited when expressing sympathy for Hernández. He referred to Hernández’s arrest as a “tragedy.”
Bankman-Fried’s legal team is currently appealing his sentence. Last November, his lawyer presented arguments to the 2nd U.S. Court of Appeals, claiming that key evidence, which would have shown FTX possessed sufficient funds to cover customer withdrawals, was omitted during his trial.
The public endorsement has generated significant discussion within the cryptocurrency community and wider media. Many view Bankman-Fried’s statements as an attempt to pressure former President Trump to consider a pardon for him in the future.
However, given the extensive evidence and arguments presented during his legal proceedings, many observers believe it is unlikely Bankman-Fried will succeed in reversing his conviction for financial crimes.
The pardon of Hernández itself has sparked considerable controversy in regional political circles. Some of the former Honduran leader’s defenders argue that his conviction relied heavily on testimonies from “repentant drug traffickers,” which they claim were potentially influenced by political agendas.