Former FTX CEO Sam Bankman-Fried, better known as SBF, has taken a daring political gamble. After his fall from grace in the crypto world, SBF is now seeking a presidential pardon from Donald Trump. However, most political experts are in agreement that his chances of securing such a pardon are minimal, if not entirely non-existent.
According to a recent report from Fortune, insiders in the political scene have already labeled SBF’s pardon attempt as a desperate move. In a bid to increase his chances, he has rebranded himself, aligning more with Republican ideologies.
Last week, Bankman-Fried broke prison rules by giving an unauthorized interview to Tucker Carlson from his jail cell. In the interview, he praised Republicans while distancing himself from Democrats. This violation landed him in solitary confinement.
An anonymous crypto lobbyist assessed SBF’s chances of a successful pardon campaign as “near zero,” taking into account the dynamics of Trump’s administration.
SBF’s strategic pivot towards right-wing views could be seen as an effort to charm Trump into granting him a pardon, following his conviction in the FTX fraud case. There’s speculation that his case might pique Trump’s interest—not due to the crypto connection, but because of Trump’s own issues with the legal system.
A recent New York Times report revealed that his family and allies are lobbying for his pardon, leveraging Trump’s history of granting clemency to those close to him or those who share his grievances.
However, the probability of SBF’s pardon bid succeeding is slim. SBF hasn’t shown any remorse and lacks substantial support. Furthermore, Trump’s commitment to “law and order” could outweigh his grievances with the legal system.
Legal experts warn that pardoning Bankman-Fried might alienate Trump’s support base, especially the working-class Americans and small investors who suffered losses due to FTX’s downfall.
In his first week in office, Trump pardoned Ross Ulbricht, the founder of Silk Road, delivering on a campaign promise. He condemned the prosecutors involved, deeming Ulbricht’s double life sentence plus 40 years as “excessive.”
