Former FTX CEO Sam Bankman-Fried said that he hopes for presidential pardon from President Donald Trump in a new interview with the New York Sun.
In addition to expressing a change in his views toward the Republican Party, the former CEO and co-founder of the now-defunct cryptocurrency exchange FTX also attacked the Biden administration’s management of the Department of Justice (DOJ), calling it “politicized” and accusing it of “prosecutorial abuse.”
He said that he had common issues with Judge Lewis Kaplan, who oversaw both his trial and the ones involving Trump.
Sam Bankman-Fried Compliments Elon Musk’s Approach
The former cryptocurrency tycoon also complimented Elon Musk’s “chainsaw approach” to bureaucracy and expressed support for the CEO of Tesla’s attempts to dismantle the federal government. “In fact, there are some things that require a cut of more than 10%,” he stated. “Obviously they must be rebuilt properly, but they need a 30, 50, or 70% [cut].”
Currently serving a 25-year prison sentence, Bankman-Fried’s firm was once valued at $32 billion. In October 2023, a jury found him guilty of fraud and embezzlement of $8 billion in customer monies from his cryptocurrency exchange.
Bankman-Fried’s Sentencing: What Had Happened?
The former CEO of FTX, Sam Bankman-Fried, was found guilty of cheating investors, clients, and authorities and was imprisoned in 2023.
The charges were related to his Bitcoin exchange, FTX, collapsing and losing billions of dollars. Bankman-Fried was convicted of lying about his company’s financial situation and utilizing client money for personal investments.
The high-profile aspect of his trial attracted a lot of attention, and his conviction served as a reminder of the risks associated with unregulated cryptocurrency markets.
Notwithstanding his legal issues, Bankman-Fried’s defense team requested a presidential pardon, and it is said that talks are still going on regarding a possible pardon from former President Donald Trump. The sentencing has been an important turning point in the wider examination of the activities of the cryptocurrency business.
SBF’s Pardon Request Stems From Trump’s Generous Attitude Towards Crypto Sector
It wouldn’t be the first time that Trump has shown sympathy for a crypto criminal if Bankman-Fried were granted a pardon. Ross Ulbricht, the creator and operator of Silk Road, which was once one of the biggest dark web marketplaces in the world, was pardoned by the 47th president shortly after he took office.
For many in the cryptocurrency community, Ulbricht was a martyr because of his contribution to making Bitcoin a household name. However, according to official records, Silk Road users used cryptocurrency to purchase illegal goods, including drugs.