| Key Points: – Former FTX CEO Sam Bankman-Fried is seeking a pardon from Donald Trump despite experts considering his chances slim. – Once a major Democratic donor, Bankman-Fried now attempts to align with Trump, leading to his solitary confinement. |
Former FTX CEO Sam Bankman-Fried is making an ambitious bid for a presidential pardon from Donald Trump, despite political analysts suggesting his chances are slim.
According to Fortune, Bankman-Fried has been reaching out to attorneys with White House connections, engaging Washington lobbyists, and participating in prison interviews to push his case.
Sam Bankman-Fried Seeks Trump Pardon Amid Legal Troubles
Sam Bankman-Fried, once a dominant figure in the cryptocurrency industry, was sentenced to 25 years in prison in March last year after being convicted on conspiracy and fraud charges linked to the collapse of FTX.
Bankman-Fried’s crypto empire was valued at over $30 billion in 2022, and he was a major political donor, primarily backing Democratic candidates. However, he later claimed to have made significant undisclosed donations to Republicans as well.
At his peak, Sam Bankman-Fried’s net worth was $24 billion, according to Forbes. It plummeted to “close to nothing” after the collapse of his crypto exchange FTX in November 2022. The collapse of FTX, which he founded, and its sister trading house, Alameda Research, led to a massive loss of value in his assets.
The former crypto mogul’s efforts to secure a pardon have been supported by a small circle of family members, including his parents, Joe Bankman and Barbara Fried. His father, a Stanford University law professor, has been consulting with Kory Langhofer, an Arizona attorney who previously worked on Trump’s presidential campaigns.
Bankman-Fried’s latest actions have raised eyebrows. His unauthorized appearance on the Tucker Carlson Show resulted in him being placed in solitary confinement. Additionally, posts from his social media account have provided unsolicited advice on Trump’s plans to restructure the federal workforce, indicating an attempt to align himself with the former president’s policy agenda.
Skepticism Grows Over Bankman-Fried’s Pardon Chances
Despite these efforts, skepticism remains high. A crypto lobbyist, speaking anonymously, dismissed the likelihood of a pardon, saying the probability was “zero.”
While Trump has shown support for the cryptocurrency sector and previously pardoned Ross Ulbricht, founder of the dark web marketplace Silk Road, experts argue that Bankman-Fried lacks similar industry backing. Many in the crypto community continue to hold him responsible for the financial fallout caused by FTX’s collapse.
However, some believe the possibility of a pardon is not entirely out of reach. Trump’s increasing engagement with the crypto sector and his history of issuing high-profile pardons suggest Bankman-Fried’s campaign may not be futile.
Meanwhile, the fallout from Bankman-Fried’s legal troubles continues. His crisis manager, Mark Botnick, resigned last week after learning of the Carlson interview.
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