Emily Walker
The parents of Sam Bankman-Fried, the ex-CEO and co-founder of the defunct FTX cryptocurrency exchange, are looking into ways to obtain a presidential pardon for him from Donald Trump.
Parents of Sam Bankman-Fried Pursue Pardon from Trump
According to a report from Bloomberg, Joseph Bankman and Barbara Fried, both professors at Stanford Law School, are in talks with legal experts and have reached out to “Trump’s inner circle” for a potential pardon for their son, who is currently serving a 25-year prison sentence for fraud.
Trump has used his pardon powers before, especially in notable instances like that of Silk Road founder Ross Ulbricht, prompting white-collar offenders to seek similar relief. However, while Ulbricht had substantial backing from the crypto community and libertarians, Bankman-Fried does not enjoy the same support, as stated by Bloomberg.
Bankman-Fried argues that his lengthy sentence is disproportionate, citing that most FTX customers have managed to recover their losses.
Additionally, Ryan Salame, a former FTX executive sentenced to over seven years, is also pursuing a pardon, reflecting a wider trend among those implicated in the FTX case.
Changes in Trump’s Pardon Approach
Trump’s approach to pardons appears different from his first term, when many clemency decisions were made toward the end of his presidency. He is now reportedly considering pardons earlier in the term, for people across the political spectrum.
Despite Bankman-Fried’s past as a significant donor to the Democratic Party, Trump seems open to helping Democrats who claim to be victims of political persecution.
Interestingly, both Bankman-Fried and Trump find themselves opposing US District Judge Lewis A. Kaplan, who oversaw Bankman-Fried’s trial and has been involved in legal issues concerning Trump. Both have criticized Judge Kaplan for what they describe as “unfairness” in their trials.
Legal expert Alan Dershowitz, who has facilitated pardons in the past during Trump’s administration, has also been approached for help. He mentioned that interest in pardons is rising, but Trump is currently distracted with other matters.
Featured image from Vanity Fair, chart from TradingView.com