FTX Customers Recover 170% of Deposits Through Payouts and Market Recovery
FTX customers recovered 170% of deposits through payouts and crypto market appreciation.
Event / Security
FTX Founder Pardon Bid
Sam Bankman-Fried, imprisoned founder of FTX, seeks presidential pardon while serving a 25-year sentence for wire fraud and conspiracy related to the 2022 collapse of FTX that caused billions in losses to customers, investors, and lenders.
2 reported locations
Daily activity
0 articles0 articles
2026-08-16 to 2026-11-13 · UTC publication dates
Coverage begins 9 Jun, 00:07 UTC
Follow the documented timeline or explore the related reporting.
What happened
President Trump pardons Changpeng Zhao, founder of Binance cryptocurrency exchange
President Trump issued a pardon for Changpeng Zhao, who had served almost a year in prison on money laundering charges. Zhao is the Chinese-born Canadian founder of Binance, a major cryptocurrency exchange. The White House cited the Biden Administration's prosecution as part of their "war on cryptocurrency." Zhao's firm has supported Trump's cryptocurrency venture, World Liberty Financial.
FTX customers recover 170% of deposits through bankruptcy payouts and crypto market recovery
Bankman-Fried stated that FTX customers have been repaid approximately 170% of their deposits, with some sources indicating customers have been made whole nearly twice over. This recovery was aided by increased bankruptcy payouts and recovery in cryptocurrency markets following FTX's collapse in November 2022.
Sam Bankman-Fried seeks presidential pardon from federal prison
Sam Bankman-Fried, the convicted FTX founder currently incarcerated at Federal Correctional Institution Lompoc I in California, stated in an interview that he "absolutely" wants a presidential pardon. He declined to confirm whether his family is currently lobbying the White House on his behalf. His current scheduled release date is June 17, 2044.
Sam Bankman-Fried sentenced to 25 years for FTX fraud in March 2024
Bankman-Fried was convicted on two counts of wire fraud and five counts of conspiracy following the collapse of FTX in November 2022. The court found that FTX customers lost $8 billion, equity investors lost $1.7 billion, and lenders to Alameda Research lost $1.3 billion. He was sentenced to 25 years in prison.
Read the coverage
2 alternative perspectives
SBF Seeks Pardon as Crypto Figures Win Presidential Clemency
FTX founder Bankman-Fried seeks pardon as Trump grants clemency to other crypto figures.