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FTX Founder SBF's Family Begging for Pardon from Trump: Can He Be Released? - Coin Bulletin
Sam Bankman-Fried's family is planning to appeal to US President Donald Trump for the pardon of their son, but it remains uncertain whether this request will yield results.
The family of Sam Bankman-Fried, former CEO of the bankrupt crypto exchange FTX, is considering appealing to US President Donald Trump for their son's pardon from prison.
According to a source close to Bloomberg, it is not known yet whether the initiative of Joseph Bankman and Barbara Fried has reached the White House.
This move is a continuation of efforts to pardon leading figures in the crypto world.
Previously, the founder of Silk Road, Ross Ulbricht, was pardoned by Trump as a result of years of efforts by his family and supporters and was released after serving an 11-year prison sentence. However, it is uncertain whether Bankman-Fried will receive the same support.
Efforts for Pardon for Former CEO of FTX, but Chances Appear Low
Bankman-Fried was sentenced to 25 years in prison for allegedly defrauding investors out of billions of dollars in a case described as one of the biggest financial frauds in U.S. history.
In addition, by donating $5.2 million to Biden's campaign in 2020, supporting Trump's defeat, he was shown among the factors that could consider the chance of being forgiven.
The betting odds on Polymarket also indicate a low chance of Bankman-Fried being pardoned. The possibility of Ulbricht being pardoned had risen to 95% after Elon Musk's statement on the X platform, "Ross will also be released."
However, Bankman-Fried's possibility of being forgiven is seen as 6% at the time of publication, showing only a slight increase from 4% on January 22.
Bankman-Fried's forgiveness process continues to be a matter of great curiosity in the crypto world, and how such pardon requests are shaped by political and social dynamics is also noteworthy. Investors and the crypto community are closely following these developments.