Parents of Convicted Crypto Tycoon Seek President Trump’s Assistance for a Pardon

Key Takeaways:

– The parents of former cryptocurrency mogul Sam Bankman-Fried are reportedly seeking a presidential pardon for their son.
– Convicted of financial fraud leading to one of the biggest collapses in history, Bankman-Fried is currently serving a 25-year prison term.
– The alleged attempts to seek a pardon come amid Trump’s recent spree of pardoning over 1,500 individuals.
– Despite assurances that losses to customers have mostly been recovered, Bankman-Fried lacks significant support from the crypto industry, unlike other white-collar defendants on Trump’s pardon list.

A Call for Mercy

The world of cryptocurrency was shaken when famed entrepreneur Sam Bankman-Fried was found guilty in one of history’s largest financial fraud cases. Now, his parents hope to help him find a way out of his 25-year-long sentence. Before Sam’s misfortunes began, he had been a figurehead in the industry. The sudden fall from grace to a prison cell has prompted his family to seek assistance from none other than ex-President Donald Trump.

Trump’s Pardon Spree

Trump, since his return to the political hub, has been handing out pardons like candy. He’s extended the olive branch to more than 1,500 people recently sentenced. Notably, the list includes the founder of Silk Road, Ross Ulbricht, who was serving life for drug trafficking and money laundering. Many individuals involved in white-collar crime have been eying this development, hoping to present their case before the ex-president. The Bankman-Fried family seems to be taking a leaf out of their book.

Hurdles for Bankman-Fried’s Pardon

Bankman-Fried, who ran the now-defunct FTX cryptocurrency exchange, has claimed that his sentence is severe and unfair. He’s asserted that his former customers have largely recovered their losses since the platform’s downfall. Despite these efforts to gain empathy and potentially appeal to Trump’s sense of justice, Bankman-Fried’s chances seem slim.

His case is not attracting widespread support. This is unlike Ulbricht, whose request for pardon received considerable backing from the crypto industry and libertarian movement. Sam finds himself on shaky ground, with diminishing backing and increasing skepticism towards a possible pardon.

A Wave of Pardon Petitions

Jeffrey Grant, who runs a legal advisory firm in New York, has reported a surge in communication from individuals seeking pardon. These include people recently sentenced who are yet to report to prison and some that are already serving their sentences.

Additionally, renowned Harvard Law School professor and former Trump lawyer Alan Dershowitz has been receiving calls from individuals seeking help. He disclosed that these calls would have to wait as Trump was engaged in other matters.

No Response from the White House

Despite the strong determination of the Bankman-Fried family, it’s still uncertain whether Trump would exercise his pardon power for the crypto fraudster. Neither parent wishes to comment on the situation, maintaining a veil of silence that extends to the White House. The administration, including a lawyer involved in Bankman-Fried’s appeal, has chosen not to comment on this controversial matter.

Conclusion

Overall, how this pans out for Bankman-Fried’s family remains to be seen. Pardons have always been a subject of heated debates, and this case isn’t any different. The future of this once-celebrated cryptocurrency magnate lies in the hands of unpredictable dynamics and uncertain outcomes. What is sure at this point is that many will be watching the drama unfold, keen to see what precedents it will set.

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