Seeking Presidential Pardon for FTX CEO
The parents of former FTX CEO Sam Bankman-Fried are actively seeking a presidential pardon from Donald Trump. Stanford law professors Joseph Bankman and Barbara Fried have met with lawyers and members of President Trump’s administration in hopes of securing clemency for their son, who is currently serving a 25-year prison sentence.
Background
- Joseph Bankman and Barbara Fried have met with lawyers and members of President Donald Trump’s administration.
- Trump has previously pardoned Silk Road creator Ross Ulbricht, who served 12 years in prison.
- Early Bitcoin investor Roger Ver, facing a 109-year prison sentence, has also appealed to Trump for help.
Legal Troubles
Bankman-Fried was sentenced last March after being found guilty of fraud. The platform filed for bankruptcy in 2022, leading to legal consequences for its executives.
Pardoning Ulbricht
President Trump’s decision to grant a pardon to Ross Ulbricht, the creator of the infamous Silk Road, has set a precedent for seeking clemency for individuals facing lengthy prison sentences.
Bankman-Fried had previously criticized his own sentence as “draconian,” despite efforts to compensate FTX customers for their losses. The crypto exchange has been working to repay customers, with co-founder Gary Wang and ex-executive Nishad Singh avoiding prison sentences.
However, Caroline Ellison, former CEO of Alameda Research, received a 24-month prison sentence in September, highlighting the legal challenges faced by individuals in the cryptocurrency industry.
Appeal to President Trump
Joining the plea for a presidential pardon, early Bitcoin investor Roger Ver recently posted a video message urging President Trump to intervene and prevent a potential 109-year prison sentence. Ver emphasized the importance of justice and appealed to Trump’s sense of fairness in his message.