The 34-year-old former billionaire was handed a 25-year sentence after being convicted of multiple federal charges relating to FTX, the cryptocurrency exchange he founded and led, and its sister company Alameda Research.

Just two years into that term, he has filed an application for a “pardon after completion of sentence” with the Department of Justice, according to online records. Such a pardon would mean his fraud convictions are forgiven once he has served his time. He has not sought a commutation, which would shorten the sentence itself, BBC reports.

Mr Bankman-Fried is separately attempting to appeal his sentence and has long maintained his innocence.

FTX became a popular exchange used by millions before collapsing in 2022 amid claims that Mr Bankman-Fried had treated customer deposits as his own, funding personal investments and paying debts. His application sits among more than 20,000 pardon or commutation requests held by the Office of the Pardon Attorney.

Mr Trump has issued numerous pardons during his second term, including for the founder of crypto platform Binance. However, asked earlier this year whether he would pardon Mr Bankman-Fried, the US President indicated he would not.