‘Shock’ if Biden doesn’t pardon SBF amid growing rumors

Growing speculation about a possible presidential pardon for Sam Bankman-Fried (SBF) has been fueled by high-profile figures and shifting political tides.

A key Trump ally, Elon Musk, for example, will be “surprised” if US President Joe Biden does not grant an early pardon to the disgraced former CEO of FTX.

Crypto, politics and forgiveness

Bankman-Fried, who was convicted in November 2023 on seven charges, including fraud and embezzlement, is currently serving a 25-year sentence for his role in the collapse of the cryptocurrency exchange. However, rumors of a pardon have gained momentum, in part because of his significant political connections.

As one of the Democratic Party’s top donors, Bankman-Fried’s ties to key political figures, particularly Biden, have led many to wonder whether her political influence could play a role in securing a pardon. Speculation about the possibility of clemency gained more attention after comments from Musk, who tweeted that he would be “surprised if this doesn’t happen.”

This statement aligns with changing predictions from platforms such as Polymarket, where the odds of a possible pardon rose from 4% to 13%, indicating a growing belief that SBF’s ties to political elites could influence the your destiny

SBF’s trajectory from crypto prodigy to convicted fraudster has been one of the most dramatic falls in recent financial history. At his peak, he was hailed as a leading figure in the industry, having founded FTX in 2019 and quickly grown it into one of the largest exchanges in the world.

He cultivated a public persona as a technological innovator with a commitment to social causes that earned him widespread recognition beyond crypto circles. His political contributions were massive, with more than $5 million donated to Biden’s 2020 campaign and almost all of his donations going to Democrats.

However, the collapse of FTX in late 2022 exposed an $8 billion hole in client funds that sent shockwaves through the financial world. Although the legal case against him resulted in a conviction, some continue to speculate that a presidential pardon could allow the Biden administration to move on from the scandal.

The fate of Ross Ulbricht is still unclear

Meanwhile, the odds of Biden pardoning Ross Ulbricht, creator of the Silk Road marketplace, currently stand at 9%. However, Ulbricht could see freedom under Donald Trump’s presidency after the president-elect pledged to pardon him earlier this year. Ulbricht was convicted in 2015 on multiple charges, including drug trafficking and money laundering, and sentenced to life in prison.

While the libertarian and crypto advocates see him as a symbol of free trade and argue that his punishment is unfair, critics highlight Silk Road’s links to drug overdoses and allegations that Ulbricht planned murders to protect the your platform Active between 2011 and 2013, the Silk Road pioneered anonymous online trading using Bitcoin and Tor. Ulbricht’s mother, Lyn, led a high-profile campaign to reduce her son’s sentence, attracting widespread public support.

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