In an intriguing turn of events, the possibility of a pardon for Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, appears to have gained traction among bettors on the decentralized prediction market Polymarket. This shift follows recent developments surrounding clemency granted by former President Donald Trump to Binance founder Changpeng ‘CZ’ Zhao.
According to a poll titled “Who will Trump pardon in 2025,” Bankman-Fried’s odds of receiving a pardon have increased significantly. Initially standing at 6% on Thursday morning, his odds jumped to 12.5% by Thursday night. As of Friday afternoon, the odds settled around 9.7%, showcasing a notable fluctuation driven by the news of Zhao’s clemency.
Bankman-Fried was sentenced to 25 years in federal prison nearly two years ago after being found guilty of multiple criminal charges related to a scheme that defrauded FTX investors of approximately $8 billion. Testimonies from former associates, including key figures such as Gary Wang, Nishad Singh, and Caroline Ellison, played a pivotal role in his conviction.
Amid these developments, Bankman-Fried has taken to social media to voice his grievances. He claimed that the Biden administration’s anti-crypto stance led to his arrest in 2022, asserting it was strategically timed to prevent him from testifying in Congress regarding a significant crypto bill. In a post shared on his official Gettr account, he articulated his belief that his arrest occurred just days before he was to present his insights before lawmakers.
As Bankman-Fried continues to appeal his conviction, he is scheduled to return to court on November 3 in New York City. The consequences of these recent events, both politically and in the crypto sector, remain to be seen as investors and insiders closely monitor the situation.
