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Invezz 2025-01-31 07:44:43

Will Trump pardon Sam Bankman-Fried? Family seeks clemency after Ulbricht’s release

Will Trump pardon Sam Bankman-Fried? Family seeks clemency after Ulbricht’s release

Sam Bankman-Fried’s family is actively exploring avenues for a presidential pardon as the FTX founder serves a 25-year sentence for fraud. His parents, both legal scholars, have engaged with lawyers and individuals linked to Donald Trump’s inner circle, aiming to secure leniency, as per a Bloomberg report. The president’s history of controversial pardons, including that of Silk Road founder Ross Ulbricht, has fuelled speculation that Bankman-Fried could be next in line for clemency. While the FTX founder continues to appeal his conviction, his defence hinges on claims that customer losses were largely mitigated. His legal team argues that the sentencing was disproportionate. His legal team is expected to argue that other executives involved in corporate collapses received significantly lighter penalties. This narrative could shape efforts to win public or political support for clemency. Trump’s history of white-collar pardons fuels speculation Bankman-Fried’s pursuit of clemency follows a broader trend in Trump’s approach to criminal justice, particularly regarding non-violent financial crimes. The president has demonstrated a willingness to override conventional legal channels, often granting pardons based on personal appeals rather than Justice Department recommendations. Ulbricht’s case set a precedent, as his life sentence for running the Silk Road marketplace was commuted by Trump. The controversial move was widely supported within libertarian circles, with advocates arguing that his punishment was excessive. The Bankman-Fried camp is now leveraging this argument, claiming that his sentencing does not align with the financial impact of his actions. Another factor at play is Trump’s stance on cryptocurrency. While the president has been critical of digital assets, his recent engagement with the crypto community suggests a shift. Bankman-Fried’s legal team may attempt to frame his prosecution as part of a broader regulatory crackdown that aligns with government overreach, a narrative that has previously resonated with Trump’s base. Despite this, public sentiment remains largely against Bankman-Fried. While Ulbricht’s supporters painted him as a libertarian idealist, Bankman-Fried is viewed as a privileged insider who mismanaged billions. His high-profile donations to Democratic politicians could also work against him, making a Trump pardon more difficult to achieve. Political calculations could shape Bankman-Fried’s fate Despite the speculation, securing a pardon remains a formidable challenge. Unlike Ulbricht, whose support base championed libertarian ideals, Bankman-Fried has been widely vilified as the face of corporate fraud. However, Trump’s unpredictable approach to pardons leaves room for uncertainty. His administration previously granted clemency to individuals who were not aligned with his political interests, sometimes in response to public campaigns or lobbying efforts. Bankman-Fried’s parents, who are deeply embedded in the legal community, may attempt to navigate these networks to bolster their case. There is no confirmation of formal outreach to Trump’s team, but discussions within legal circles suggest that Bankman-Fried’s camp is weighing its options. Trump’s decisions on clemency have often been influenced by media attention and political calculations. If Bankman-Fried’s supporters can craft a compelling argument, the case could gain traction. The post Will Trump pardon Sam Bankman-Fried? Family seeks clemency after Ulbricht’s release appeared first on Invezz

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