FTX token (FTT) spikes 50% as Sam Bankman-Fried seeks Donald Trump’s pardon
Sam Bankman-Fried has formally sought a presidential pardon while serving a 25-year sentence for one of the largest crypto frauds in US history. The request intensified a months-long effort by family and allies, but the odds appear very low: prediction markets price only about an 8% chance, and President Trump has repeatedly said he will not grant clemency. Even so, the filing triggered heavy speculation in FTX-linked token FTT, which jumped more than 50% in a day and saw trading volume surge over 600%, despite having no real utility or ongoing project. Traders appear to be treating FTT as a bet on renewed attention to Bankman-Fried’s fate rather than on any bankruptcy recovery. Bankman-Fried continues to argue FTX was a liquidity crisis, not insolvency, but prosecutors and cooperating witnesses said customer funds were misused to cover Alameda losses, investments, political spending, and other expenses. The pardon push faces strong political opposition and is widely seen as unlikely to succeed.
