SBF Formally Applies for Trump Presidential Pardon – FTT Surges Over 60% in Speculative Rally

The FTX founder Sam Bankman-Fried has formally applied for a presidential pardon from President Donald Trump. The request, filed through the Justice Department's Office of the Pardon Attorney, seeks clemency after completion of his 25-year sentence for fraud and related charges tied to the 2022 collapse of the cryptocurrency exchange. Bankman-Fried, who has been vocal in praising Trump from prison, submitted the application earlier this month.

The news triggered an immediate speculative frenzy in the market. FTX's native token FTT surged more than 60 percent in a single day, climbing from around 22 cents to highs near 38 cents amid sharply higher trading volume. Traders piled in on hopes that a pardon could somehow revive interest in the defunct exchange or its ecosystem, though FTT currently holds little fundamental value or utility.

While the pardon bid has boosted short-term sentiment around anything connected to SBF, analysts caution that success remains highly uncertain. Trump has previously indicated he has no plans to pardon Bankman-Fried, and many Republican lawmakers have urged against it. The dramatic price move in FTT reflects pure speculation rather than any realistic expectation of broader revival for the FTX estate or its token.