Why FTX Founder Sam Bankman Might Get Presidential Pardon in January 2025?

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As a seasoned analyst with over two decades of experience in financial markets and politics, I have seen my fair share of unexpected twists and turns. However, the latest rumors surrounding Sam Bankman Fried and a potential presidential pardon from Joe Biden are nothing short of extraordinary.

Sam Bankman-Fried, the founder of FTX, could spend up to 25 years in prison due to his involvement in the FTX collapse. Yet, his legal team remains active in seeking a reduced sentence. The forthcoming bankruptcy hearings set for January 2025 are significant in this context. There’s been talk about Sam possibly receiving a presidential pardon from President Joe Biden, and here’s why such speculation arises.

Sam Bankman Fried Might Get Presidential Pardon In January

Approximately five years ago, Sam Bankman-Fried established FTX and propelled it into one of the largest and most widely used cryptocurrency exchanges. However, his actions also led to its downfall about three years later, as he and his colleagues allegedly misused investor funds for personal profit, depleting reserves and driving the exchange towards bankruptcy. Consequently, this set off a chain of memorable incidents for investors.

Yet, without a presidential pardon, he faces 25 years behind bars. There’s speculation that this pardon could be in the works due to newly uncovered political ties. Simultaneously, individuals linked to him such as Caroline Ellison have already begun serving their sentences.

As a researcher, I’ve traced the origins of these speculations back to a conversation on Polymarket that started in April 2024, centered around the possibility of President Biden granting a pardon to Sam Bankman-Fried during his tenure. Initially, only a small fraction of people shared this view, with most being uncertain due to the ongoing presidential election at the time. However, with Trump’s victory in the election and his inauguration scheduled for January 20, 2025, the question has resurfaced: Could Sam Bankman-Fried receive Biden’s pardon? This question gains more traction given that Mr. Bankman-Fried was one of the significant donors to Biden’s campaign during the 2020 presidential race.

During that period, it was revealed that the previous CEO and founder gave $5.2 million to Biden’s election fund. Additionally, investigations showed that this individual, known as Sam, contributed over $40 million to Democratic parties, with The Protect Our Future PAC receiving $27 million, the House Majority PAC receiving $6 million, and other amounts. This led to speculation about political favors, suggesting that Biden might grant a pardon to Sam to clear his financial obligations. Notably, bets on Joe Biden pardoning Sam Bankman Fried through Polymarket have risen to 16%, currently standing at 9%. To add fuel to the fire, Elon Musk has recently commented on these pardon rumors.

Elon Musk Will Be Shocked If This Didn’t Happen

On X today, Wall Street Mav, a popular account with 1.5M followers, posed a question: “Can you guess who could potentially receive an early pardon from President Biden?” Alongside the query, he uploaded photos of Sam and Biden, hinting that Sam was the second-largest donor to the Democrats. The post garnered over 800K views and attracted comments from Tesla CEO Elon Musk, adding fuel to the speculation. Musk expressed his surprise, stating, “I would be taken aback if this didn’t occur.

Despite the escalation, President Biden hasn’t demonstrated such behavior thus far. Yet, the public’s apprehensions linger, as only a few weeks ago, Joe granted a presidential pardon to his son, Hunter Biden – an action he had previously pledged not to take. Intriguingly, a crypto investor raked in $331k, wagering that Joe would pardon his son.

Final Thoughts

The upcoming hearing for Sam Bankman-Fried is close at hand, coinciding with Donald Trump’s term as the 47th president. Intriguingly, whispers have started to swirl, suggesting that President Joe Biden might exercise a Presidential Pardon in favor of FTX founder Sam Bankman-Fried due to their political connections. This speculation arises from findings showing that Sam was the second largest donor to Democrats during the 2022 election, with Joe Biden emerging victorious. Nonetheless, there is no concrete evidence to support this claim, but Biden’s pardon of his son has fueled such speculations.

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2024-12-23 17:02