Crypto News: Bankman-Fried’s Family Seeks Trump Pardon After Ulbricht’s Release

The parents of Sam Bankman-Fried, the founder of FTX who was sentenced to 25 years for fraud, are reportedly seeking a possible pardon from President Donald Trump. According to Bloomberg, they have met with lawyers and figures connected to Trump’s circle to explore their options.

Bankman-Fried, who is also appealing his conviction, argues that his sentence is excessive, especially considering that most FTX customers have managed to recover their funds. This push for clemency follows a trend set by Trump’s previous pardons, including that of Ross Ulbricht, the founder of the Silk Road marketplace.

Ulbricht was convicted in 2015 for running an online platform Silk Road that facilitated over $200 million in illegal transactions. Trump granted Ulbricht a pardon, citing his libertarian views and the belief that his sentence was excessive. This move has sparked growing support for Ulbricht, particularly within libertarian circles.

While Bankman-Fried’s case lacks broad public support, his legal team is pushing for a pardon by leveraging Trump’s history of granting clemency, which has often been based on informal appeals rather than traditional Justice Department channels. Bankman-Fried is not alone in his pursuit; Ryan Salame, another former FTX executive, is also reportedly exploring similar efforts for a pardon.

As Trump’s administration has been more open to considering clemency for controversial cases, including Ulbricht’s, the push for a pardon signals a shift in the broader landscape of white-collar criminal justice. However, no formal outreach to the White House regarding Bankman-Fried’s case has been confirmed as of now.