US President Donald Trump will not pardon Sam “SBF” Bankman-Fried, serving a 25-year sentence for FTX’s collapse. Trump dismissed potential conflicts of interest with the crypto industry and claimed he backed crypto to gain votes. Bankman-Fried may have tried to seek a pardon from Trump, but with no success, he awaits appeal in federal court.

Bankman-Fried was sentenced to 25 years for misusing customer funds at FTX. Reports suggested he tried to cozy up to right-wing figures for a pardon. Trump has pardoned other crypto figures like Silk Road founder Ross Ulbricht and ex-Binance CEO CZ. Bankman-Fried has legal recourse to appeal his conviction.

Former Alameda Research CEO Caroline Ellison, sentenced to two years, is set for release on Jan. 21. She was transferred to a Residential Reentry Management field office in New York City. Bankman-Fried’s appeal was heard by the US Court of Appeals for the Second Circuit. If denied, his last option is to file a review with the Supreme Court.

Read more at Cointelegraph: Donald Trump Will not Consider Pardon for Sam Bankman-Fried: NYT