Speculation is growing about the possibility of a presidential pardon for Sam Bankman-Fried (SBF), the disgraced founder and former CEO of the collapsed crypto exchange FTX.
The conversation gained traction following comments by tech mogul Elon Musk on an X post suggesting an early pardon for Bankman-Fried. “I will be shocked if this doesn’t happen,” Musk wrote in the December 23 post.
Bankman-Fried, convicted in November 2023 on seven counts of fraud and embezzlement, is currently serving a 25-year prison sentence. His trial revealed his role in mismanaging billions in customer funds that led to FTX’s dramatic collapse in November 2022.
Despite the severity of the charges, the possibility of a pardon has ignited fierce debate online, largely due to Bankman-Fried’s ties to the Democratic Party and particularly in light of President Joe Biden’s controversial pardons of his son, Hunter Biden, despite earlier promises to avoid such actions. He was a prominent political donor before FTX’s collapse, and thus, many people have raised questions about whether his political ties could influence any decisions regarding his legal fate.
Proponents have also pointed to the dismissal of six additional charges against the former CEO earlier this year, which eliminated the need for a second trial. Some argue that resolving the ongoing FTX saga—particularly the bankruptcy proceedings scheduled for January 2025—could benefit from a pardon. However, others warn that such a move would set a dangerous precedent.
Meanwhile, Changpeng Zhao, the former CEO of Binance, has also been at the centre of pardon discussions. On December 2, Zhao responded to a post by John Lilic, the Executive Director of the Telos Foundation, who suggested that President-elect Donald Trump consider pardoning him for past criminal charges that led to a four-month prison sentence so he can return to his former role as CEO.
While he did not outright dismiss the idea of a pardon, Zhao appreciated the gesture but firmly stated that he had no intention of reclaiming his position as Binance’s CEO.
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