The FTX co -founder is serving a 25 -year prison sentence for mass fraud.
Unlike Ross Ulbricht, Sam Bankman-Fried does not have the support of the masses.
Sam Bankman-Fried’s parents, former multimillionaire of FTX cryptocurrencies and co-founder, are looking for a way to get an pardon for their son by Donald Trump. Bankman-Fried was arrested in 2022 and, in March 2024, sentenced to 25 years in prison for mass fraud. The information was reported by Bloomberg.
Joseph Bankman and Barbara Fried, both professors of the Stanford Law Faculty, have met in recent weeks with people close to the president’s intimate circle to request clemency For your child. However, it is not yet clear if they have had direct contact with the White House.
For now Bankman-Fried’s parents avoid commenting, and one of his lawyers did not respond to a request for a statement. They look for Trump to follow the same path he took with Ross Ulbrichtbut, unlike the latter, Sam does not have a massive support from the public.
FTX collapsed in November 2022 after diverting funds from its customers to Alameda Research, a firm founded by Sam Bankman-Fried. Alameda used that money to make risky bets in the market, many of which failed.
After the judgment of Judge Lewis Kaplan, of the Court for the Southern District of New York, Bankman-Fried He replied by mail to several questions from the Metropolitan Detention Center in Brooklyn. He said he never thought he was acting illegally and feels tormented by lost money.
With the beginning of a new presidential term in the United States, many inmates seek to take advantage of possible winds to request clemency. Jeffrey Grant, who runs a legal advice firm for accused of white collar crimes, said he recently received about 100 inquiries on pardons. “We have received messages from prison people, just sentenced who still do not enter the prison and people who have already accused,” Grant said.
Unlike his first mandate, when most of his pardons were granted at the end, Trump surprised many by exercising his power of clemency at such a premature stage of his second government. Several Bitcoiners celebrated him, since one of his main campaign promises was precisely the release of Ross Ulbricht. Ross himself, just a few days ago, went to the social network X to thank the president and highlight that he is a man of speech, as cryptootics reported at that time.
