Key Takeaways:
- Sam Bankman-Fried’s parents are reportedly seeking a presidential pardon for their son, consulting with lawyers and Trump’s circle.
- The shifting political landscape has made Trump a potential option for clemency, given his perceived support for the crypto industry.
- Comparisons to Ross Ulbricht’s pardon exist, but some argue Bankman-Fried’s case lacks the same government overreach narrative.
Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, are reportedly exploring a possible presidential pardon for their son, who was sentenced to 25 years in prison in March 2024.
According to Bloomberg, they have consulted with lawyers and individuals close to Donald Trump to assess their chances of securing clemency.
JUST IN: Sam Bankman-Fried's parents explore seeking a pardon from President Trump for their son, Bloomberg reports. pic.twitter.com/FMVUpaEOUf
— Watcher.Guru (@WatcherGuru) January 30, 2025
Bankman-Fried, once a rising star in the crypto industry, saw his exchange, FTX, collapse in late 2022 due to liquidity issues and fraud allegations.
In November 2023, he was found guilty on seven charges, including wire fraud and securities fraud, leading to his sentencing in March 2024.
While many initially believed President Joe Biden would be more sympathetic to Bankman-Fried, shifting political dynamics have made Trump seem like a more viable option.
Trump has been increasingly seen as an ally to the crypto industry, raising hopes among white-collar defendants that he might consider their clemency requests.
Some compare this effort to Trump’s pardon of Silk Road founder Ross Ulbricht, who was released after serving 11 years.
However, analysts argue that Ulbricht’s case involved government overreach, whereas Bankman-Fried’s conviction was based on widespread fraud, making a pardon less likely.