Market Chatter: Sam Bankman-Fried Parents Seek Trump Pardon for Son Convicted in Crypto Scam

Sam Bankman-Fried's parents have been meeting with lawyers and others close to US President Donald Trump in a bid to secure a pardon for their son, sentenced to 25 years in federal prison for fraud related to the collapse of FTX crypto exchange, Bloomberg reported Thursday, citing a person familiar with the matter. It was unclear whether the parents, Joseph Bankman and Barbara Fried, have reached out to the White House yet, according to the report. Bankman-Fried was convicted in July 2023 and sentenced last March on seven counts of fraud and conspiracy, stemming from the collapse of FTX and a related hedge fund, Alameda Research, in November 2022. Bankman-Fried's attorneys did not immediately respond to a request for comments from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)