President Donald Trump is considering a large-scale clemency action that could include up to 250 individuals, according to a May 13 report from The Wall Street Journal. The plan connects to events marking the 250th anniversary of American independence, with possible announcement dates set for June 14, which is Trump’s birthday and Flag Day, or July 4.
The report, which cites people familiar with the discussions, states that internal talks remain at an early stage. A White House official told the publication that no final decision has been made and that Trump retains full authority over any pardon action.
If approved, the move would rank among the most expansive uses of presidential pardon power in modern US history. More than 16,000 pardon applications were formally submitted last year, which shows the scale of clemency requests under review.
Crypto cases return to the spotlight
The cryptocurrency sector has reacted quickly to the report, as several high-profile figures remain entangled in ongoing legal cases. Sam Bankman-Fried, founder of the collapsed FTX exchange, continues to draw the most attention. He received a 25-year prison sentence after a conviction on multiple fraud-related charges tied to the exchange’s downfall.
Bankman-Fried publicly requested a pardon last year. Earlier reporting indicated that Trump had privately dismissed the idea at the time. No confirmation suggests that this position has changed.
In recent months, Bankman-Fried has attempted to regain public visibility through interviews and online activity. These efforts have not produced any official response from the White House.
Developers push for clemency in parallel efforts
Separate efforts have focused on Keonne Rodriguez, a developer behind the Samourai Wallet privacy tool. He faces federal money laundering charges. Trump said in December that he would review Rodriguez’s case and examine the possibility of clemency.
Public support for Rodriguez has taken a more structured form. An online petition backing him gathered 16,082 signatures as of Thursday.
Other cases have attracted less traction. Supporters of Tornado Cash developers Roman Storm and Roman Semenov have also launched petitions. One petition for Storm showed 22 signatures, while another supporting Semenov had nine.
Storm has not publicly requested a pardon. US prosecutors secured a conviction against him last August on charges tied to operating an unlicensed money-transmitting business. He also faces separate allegations related to money laundering conspiracy and sanctions violations.
Federal authorities continue to list Semenov as wanted by the FBI.
These cases have raised broader legal questions inside the crypto sector. Privacy advocates argue that developers should not face criminal liability for how users interact with decentralized software. Regulators have taken a different stance in several prosecutions.
Previous pardons shape expectations
Trump’s prior clemency decisions continue to shape expectations across the crypto industry. During his current term, he approved pardons for several high-profile figures connected to digital assets.
BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed received pardons after earlier guilty pleas tied to violations of the US Bank Secrecy Act. The charges related to anti-money laundering and know-your-customer failures.
Binance founder Changpeng Zhao, known as CZ, also secured a pardon in 2025. Zhao had served a four-month prison sentence after pleading guilty to failing to maintain an effective anti-money laundering program.
Earlier in his presidency, Trump granted clemency to Ross Ulbricht, the founder of Silk Road. Ulbricht had received a life sentence tied to his role in operating the dark web marketplace.
These actions established a pattern that continues to influence speculation around future pardons.
Political timing and symbolic weight
The potential timing of the clemency action carries symbolic significance. The 250th anniversary of American independence represents a major national milestone. A large-scale pardon announcement could align with themes of unity and second chances.
At the same time, the inclusion of controversial figures could trigger debate over the limits of presidential power. Bankman-Fried’s case, in particular, stands as one of the most prominent fraud convictions in the history of the crypto industry.
No official list of candidates has been released. The White House has not confirmed any names under consideration.
Uncertainty remains as decision window approaches
The discussions remain fluid. The Wall Street Journal report emphasizes that internal deliberations have not reached a final stage. Trump holds sole authority over the decision, which leaves room for changes up to the moment of announcement.
The crypto industry continues to monitor developments closely. The outcome could affect not only individual cases but also broader perceptions of how the US government approaches crypto-related enforcement.
For now, the clemency plan remains a proposal under consideration. Further clarity is expected closer to the potential announcement dates in June or July.
Anastasiia G
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