Key Points:
- Sam Bankman-Fried’s parents are reportedly seeking clemency for their son from former President Donald Trump.
- Trump has shown willingness to grant pardons, including for Silk Road founder Ross Ulbricht, and has taken steps to support the crypto industry.
Stanford Law School professors Joseph Bankman and Barbara Fried, parents of FTX co-founder Sam Bankman-Fried, have reportedly sought a presidential pardon for their son from Donald Trump, according to Bloomberg.
Read more: Sam Bankman-Fried Found Guilty On Fraud Charges Involving $8 Billion
Sam Bankman-Fried’s Parents Seek Trump’s Pardon
The couple has engaged in discussions with legal advisors and individuals connected to Trump’s inner circle in an effort to secure clemency for their son, who is serving a 25-year sentence for fraud.
It remains unclear whether Bankman and Fried have directly approached the White House. Their efforts come as Trump, now back in office, has shown a willingness to use his pardon power, as seen in the case of Silk Road founder Ross Ulbricht.
Ulbricht, previously serving a life sentence for drug trafficking and money laundering, received significant backing from the crypto community and libertarian advocates before being pardoned.
Uncertainty Surrounds White House Involvement
Sam Bankman-Fried, once a prominent figure in the cryptocurrency industry, has argued that his sentencing was overly harsh, particularly given that FTX customers have largely recovered their losses. However, unlike Ulbricht, he lacks widespread public support for clemency.
Another former FTX executive, Ryan Salame, who was sentenced to more than seven years in prison, has also expressed interest in seeking a pardon.
The crypto industry played a crucial role in Trump’s 2024 campaign, providing nearly half of all corporate donations. Trump has since made regulatory moves favoring the sector, including signing an executive order aimed at strengthening U.S. leadership in digital financial technology, regulating cryptocurrencies, and banning central bank digital currencies.
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