The post FTX Founder Sam Bankman Fried To Receive a Presidential Pardon? Truth OR Rumor? appeared on BitcoinEthereumNews.com.

Sam Bankman-Fried (SBF), the former CEO of the defunct crypto exchange FTX, has become the subject of growing rumors surrounding the possibility of him receiving a presidential pardon. With SBF facing a lengthy sentence for his crimes, the speculation grew after Billionaire founder Elon Musk, said he would be “shocked if this doesn’t happen.” SBF To Get Presidential Pardon  Failed crypto exchange FTX, whose empire collapsed in November 2022, was convicted on all seven charges after a five-week trial that concluded in November 2023. As a result, SBF was sentenced to 25 years in prison, though the U.S. government had requested a sentence between 40 and 50 years. His legal team had argued for a much shorter sentence of just six years. In response to speculation on X that SBF, the founder of FTX, might receive an early pardon from President Biden, Elon Musk responded: “I will be shocked if this doesn’t happen.” But on the Polymarket, the probability of Biden pardoning SBF is only about 5%.… — Wu Blockchain (@WuBlockchain) December 23, 2024 Despite his conviction, the idea of a pardon has gained attention, mainly because of SBF’s close ties to the Democratic Party. He was one of the biggest donors to the party, which has led some to believe that his political connections might help him get a lesser sentence or even a pardon. The upcoming bankruptcy proceedings for FTX, starting in January 2025, have led some to argue that pardoning SBF could help the country move on from the scandal. Elon Musk Weighs In on the Possibility The speculation surrounding a potential pardon gained further traction after Tesla CEO Elon Musk’s comments on X. Musk tweeted that he would be “shocked if this doesn’t happen,” adding fuel to the rumors. I will be shocked if this doesn’t…

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Filed under: News - @ December 23, 2024 1:21 pm