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Trump Pardon Bid: Bankman-Fried Family Taps Ex-President's Circle

Coin WorldThursday, Jan 30, 2025 11:31 pm ET

1min read

The family of Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, is reportedly seeking a pardon from former President Donald Trump following the release of Ross Ulbricht, the founder of the Silk Road marketplace. According to sources, Bankman-Fried's parents have been consulting with lawyers and figures connected to Trump's circle to explore their options.

Bankman-Fried, who was sentenced to 25 years in prison for fraud, is appealing his conviction and argues that his sentence is excessive, given that most FTX customers have managed to recover their funds. His legal team is pushing for a pardon, citing Trump's history of granting clemency to controversial figures, including Ulbricht.

Ulbricht was convicted in 2015 for running the Silk Road marketplace, which facilitated over $200 million in illegal transactions. Trump granted Ulbricht a pardon in 2022, citing his libertarian views and the belief that his sentence was excessive. The move sparked growing support for Ulbricht, particularly within libertarian circles.

While Bankman-Fried's case lacks broad public support, his legal team is pushing for a pardon by leveraging Trump's history of granting clemency based on informal appeals rather than traditional Justice Department channels. Bankman-Fried is not alone in his pursuit; Ryan Salame, another former FTX executive, is also reportedly exploring similar efforts for a pardon.

Trump's administration has been more open to considering clemency for controversial cases, including Ulbricht's, signaling a shift in the broader landscape of white-collar criminal justice. However, no formal outreach to the White House regarding Bankman-Fried's case has been confirmed as of now.

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