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Trump pardon for Bankman-Fried? Chances increase to 13%!
Chances of SBF's pardon rise as Trump speculation grows. The crypto community reacts dividedly to the developments.
Trump pardon for Bankman-Fried? Chances increase to 13%!
Speculation about a possible pardon for Sam Bankman-Fried, the former CEO of insolvent crypto exchange FTX, is gaining momentum. In recent days, the chances of a pardon from Donald Trump have increased after rising to 13%, according to the latest data from Polymarket. This is a significant change considering that the market previously only saw a 4% chance of a release reported.
In an interesting contrast, the share of bets that Trump will pardon SBF has fallen from 9% to 7%, although overall interest in Trump-related markets remains high. The market asking, “Who will Donald Trump pardon in 2025?” has already generated $356,045 in stakes. However, recent events have sparked provoked reactions in the crypto community, with some industry leaders calling a possible pardon “unacceptable.”
Legal challenges and public opinion
Sam Bankman-Fried was convicted of seven counts of fraud and conspiracy after embezzling billions in customer funds through FTX and Alameda Research. He is currently sentenced to 25 years in prison and insists on his innocence. In a recent interview from prison, he said handing over control of FTX to CEO John Ray III was “the biggest mistake I ever made.” Meanwhile, his family has also begun to actively participate in his legal defense by taking action against the law firm Sullivan & Cromwell, which they say has gained undue control over the bankruptcy process.
Bankman-Fried's appeal hearing is scheduled for November 4th. But experts believe a quick decision is unlikely, making Trump's policy decisions and possibly a pardon a crucial factor in his fate.
Differences from other prominent cases
Legal experts have highlighted the differences between the cases of Sam Bankman-Fried and other prominent crypto figures such as Changpeng Zhao. These differences could influence the decision-makers who would decide Bankman-Fried's fate.
The developments surrounding Bankman-Fried and the possible political implications cast a shadow over the crypto industry. The debate over his possible pardon is a hot topic, and while some argue for a second chance, there are just as many who see such a decision as a miscarriage of justice.