YEREVAN (CoinChapter.com) — Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, are actively seeking a pardon from Donald Trump, according to Bloomberg. Both parents, law professors, have been in contact with legal experts and Trump’s associates in an effort to secure clemency for their son.
The strategy mirrors the successful pardon of Ross Ulbricht, the founder of Silk Road, whom Trump pardoned after returning to office. However, SBF’s legal situation is different, making a presidential pardon less certain.
Trump’s Crypto Policies and Past Pardons
Since taking office, Trump has taken steps in favor of the crypto industry. His decisions have fueled speculation that Bankman-Fried could also benefit from this trend.
However, SBF’s case presents significant political challenges. Before his arrest, Bankman-Fried was one of the most active crypto advocates in Washington, D.C.. He donated $5.2 million to Joe Biden’s 2020 presidential campaign and an additional $40 million to other Democrats ahead of the 2022 midterm elections.
His financial backing of Democratic campaigns positioned him as the second-largest donor to the Democratic Party after George Soros.
This history creates a major hurdle for a Trump pardon. SBF directly opposed Trump’s 2020 reelection bid, making it uncertain whether Trump would consider granting him clemency, despite his administration’s crypto-friendly stance.
Increase in Pardon Requests Under Trump
Since Trump’s return to office, legal experts report a surge in pardon requests from individuals convicted of white-collar crimes. Jeffrey Grant, a legal consultant who advises defendants in financial crimes, said he has received over 100 pardon requests.
“I have been hearing from people in prison, from people recently sentenced who haven’t reported to the Bureau of Prisons yet, from people who have been indicted. They are looking for somebody who knows somebody,”
Grant stated.
SBF’s parents are attempting to navigate this landscape, looking for the right political connections to support their case. However, legal experts say the timing is difficult since Bankman-Fried was sentenced less than a year ago, while Ulbricht had served more than ten years before receiving clemency.
Challenges in Securing a Pardon for Sam Bankman-Fried
Legal experts argue that a pardon for Bankman-Fried is unlikely in the near future. The new U.S. Attorney for the Southern District of New York (SDNY) has indicated that prosecutors may ease up on crypto-related cases, but only after Bankman-Fried’s legal appeals are resolved.
If Trump pardons SBF too soon, it could be seen as supporting large-scale financial crimes. Unlike Ulbricht, who was portrayed as a victim of an overly harsh sentence, Bankman-Fried was convicted of fraud and held responsible for one of the largest financial scandals in crypto history.
A lawyer who helped others receive clemency during Trump’s first term advised SBF’s parents to wait a month, stating Trump is preoccupied with other priorities.
