The parents of Sam Bankman-Fried, the co-founder and former CEO of the collapsed cryptocurrency exchange FTX, are reportedly exploring avenues to secure a presidential pardon for their son from President Donald Trump.
Sam Bankman-Fried’s Parents Seek Trump Pardon
According to Bloomberg, Stanford Law School professors Joseph Bankman and Barbara Fried have engaged in discussions with legal advisors and connected to “Trump’s inner circle” regarding clemency for their son, who is currently serving a 25-year sentence for fraud.
Trump’s previous use of his pardon power, particularly in high-profile cases like that of Silk Road founder Ross Ulbricht, has sparked interest among white-collar defendants seeking similar leniency.
While Ulbricht’s case garnered significant support from the cryptocurrency community and libertarian advocates, Bloomberg notes Bankman-Fried lacks the same level of backing.
Sam Bankam-Fried, however, has argued that his 25-year sentence is excessive, especially since most FTX customers have reportedly recovered their initial losses.
In addition to Bankman-Fried, Ryan Salame, a former executive at FTX who received a sentence of over seven years, is also seeking a pardon, indicating a broader trend among individuals involved in the FTX saga.
Trump’s Early Pardon Considerations
The nature of Trump’s pardon strategy appears to have shifted since his first term when most clemency actions were concentrated at the end of his presidency. In contrast, the President is now reportedly considering pardons earlier, including for individuals from both political backgrounds.
While Sam Bankman-Fried was once a significant Democratic donor, Trump has also shown willingness to assist Democrats who claim they are victims of political prosecution.
Interestingly, Bloomberg highlights both Bankman-Fried and Trump share a common adversary in US District Judge Lewis A. Kaplan, who presided over Bankman-Fried’s trial and has also overseen legal challenges involving Trump. Both figures have criticized Kaplan for perceived “unfairness” in their respective cases.
Legal scholar Alan Dershowitz, who previously facilitated clemency for several individuals during Trump’s first term, has also received inquiries for assistance. He noted that while interest in pardons is growing, Trump is currently occupied with other matters.
Featured image from Vanity Fair, chart from TradingView.com
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