The post Sam Bankman-Fried Seeks Trump Pardon After FTX Collapse, But What Are His Odds? appeared first on Coinpedia Fintech News
Three years ago, Sam Bankman-Fried was a big name in Washington, D.C., donating heavily to Joe Biden’s 2020 campaign. He is now asking Trump for a pardon after his crypto exchange FTX collapsed, leading to a 25-year prison sentence.
SBF’s High Profile Efforts To Seek Pardon
Now, Bankman-Fried is trying to turn things around by asking former President Trump for a pardon. His efforts include making high-profile appearances on conservative media outlets, including an unsanctioned spot on “The Tucker Carlson Show”, which got him placed in solitary confinement.
While Carlson didn’t directly ask about a pardon, he showed interest in some Republican ideas, sparking rumors in the community about a Trump pardon after the interview aired. After the interview, Polymarket prediction platform, reported that the chances of a Sam Bankman-Fried pardon nearly doubled.
According to The New York Times, he’s consulting with a lawyer close to Trump and his father even wrote an opinion piece in favor of Trump’s plans for a sovereign wealth fund.
Insiders Doubtful Over His Chances
However, despite the efforts, insiders are doubtful about his chances. One anonymous crypto lobbyist said his chances of getting a pardon are “zero,” adding, “Sorry, it’s Trump world… near zero.”
The idea of Bankman-Fried getting a pardon isn’t impossible. Trump has previously supported crypto and pardoned Silk Road founder Ross Ulbricht, a figure popular in the crypto world. However, Ulbricht had a strong following in the crypto community, while Bankman-Fried is disliked, especially after causing the FTX collapse and the resulting crypto downturn.
SBF’s family, including his parents Joe Bankman and Barbara Fried, are consulting with a lawyer connected to Trump’s past campaigns to help secure a pardon. Although they haven’t contacted Trump directly, they hope his transactional approach to clemency will work in their favor. However, the clemency effort has not gained much momentum.
On the other side, a crypto lobbyist told Fortune that Bankman-Fried’s chances might be increasing due to Trump’s growing ties with the industry and his willingness to grant pardons. However, the lobbyist pointed out that the wider crypto community hasn’t prioritized Bankman-Fried’s case, so a pardon still seems unlikely.