"FTX Founder's Parents Seek Trump Pardon Amidst Crypto Collapse Fallout"

In a surprising turn of events, the parents of Sam Bankman-Fried, the disgraced founder of the collapsed crypto exchange FTX, have launched a bid for a presidential pardon from former President Donald Trump. The move comes as Bankman-Fried serves a 25-year prison sentence for his role in the exchange's collapse, which left customers and investors with billions in losses.

Bankman-Fried's parents, both Stanford Law School professors, have reportedly begun engaging with individuals connected to Trump's inner circle to discuss potential clemency options. Their efforts follow Trump's recent decision to commute the life sentence of Ross Ulbricht, the founder of online marketplace Silk Road, which has sparked increased interest in presidential pardons among other individuals facing federal charges.

The former FTX CEO was convicted on seven counts of fraud, conspiracy, and money laundering, stemming from the exchange's spectacular collapse in November 2022. The investigation revealed that Alameda Research, FTX's sister company, had used backdoor code to access billions in customer funds, an arrangement orchestrated by Bankman-Fried and other founding members of Alameda.

Despite the severity of the charges, Bankman-Fried maintains that his 25-year sentence is excessively harsh. His defense points to the fact that most FTX customers have recovered their financial losses, though this argument has failed to generate widespread sympathy among the crypto community or general public.

The specific details of the pardon efforts remain somewhat unclear. While Bankman-Fried's parents have attempted to engage with the Trump administration, it's uncertain whether any direct communications with the White House have occurred. The push for clemency has coincided with increased activity in the pardon consulting sphere, with white-collar prison consultants reporting a surge in inquiries following Trump's recent clemency decisions.

The efforts of Bankman-Fried's parents represent a continuation of their involvement in their son's legal matters. Both were part of FTX's inner circle and have maintained active roles in supporting their son throughout his legal proceedings. Prior to its collapse, FTX had established itself as the world's third-largest cryptocurrency exchange, with Bankman-Fried once being hailed as a visionary in the crypto industry.

The court ordered Bankman-Fried to forfeit $11 billion as part of his sentence, adding a financial penalty to his prison term. This forfeiture represents one of