Sam Bankman-Fried is counting on a presidential pardon to avoid a 25-year prison sentence

Former founder of the crypto empire FTX, once valued at $32 billion, is now behind bars developing an unexpected strategy to gain his freedom. Sam Bankman-Fried refuses to give up: from behind bars, he is making a bold political move, hoping to win Donald Trump’s favor and secure a presidential pardon. His fall from grace and current actions reveal how the cryptocurrency magnate is fighting the consequences of his past actions.

From Rise to Fall: How Bankman-Fried Ended Up in Prison

Sam Bankman-Fried was once considered an emerging star in the crypto industry, but his rise ended in collapse. After being convicted of fraud and misappropriation of client funds, he was sentenced to 25 years in prison. FTX, the platform that brought him fame and wealth, collapsed in November 2022, leaving behind ruins and disappointed investors.

However, even from behind bars, Bankman-Fried continues to deny the extent of his guilt. In a recent phone interview with the New York Sun, he claimed that FTX was never a bankruptcy in the traditional sense. According to him, enough funds had accumulated by the end of 2022 to fully settle with clients. The only problem, as he sees it, are external debtors and delays by the law firm Sullivan & Cromwell, which he accused of mishandling the case.

These statements sound especially strange given that the FTX estate is currently preparing to distribute $11 billion according to the bankruptcy plan. It’s clear that Bankman-Fried is trying to shift responsibility onto others rather than admit his own role in stealing client assets.

An Unexpected Turn: From Biden to Trump

Even more surprising than his financial justifications is Sam’s radical change in political stance. Once a major supporter of the Democratic Party, donating millions to election campaigns, he has now, while incarcerated, begun criticizing the Biden administration and openly supporting Donald Trump.

Experts have no doubt about the motives behind this maneuver. Sam is clearly trying to win Trump’s favor in hopes of receiving a pardon that would allow him to go free early. His tactic is based on historical precedents: Trump has previously pardoned Silk Road founder Ross Ulbricht, demonstrating a willingness to give second chances even to those convicted of serious crimes.

Sam’s parents allegedly support this strategy, insisting that Trump consider their son a victim of politically motivated persecution. Betting platforms like Polymarket have even seen wagers suggesting that the probability of Trump pardoning Bankman-Fried within his first 100 days in office is significant.

Are There Real Chances for Salvation?

Given that Trump has indeed granted pardons unexpectedly and unpredictably, Bankman-Fried’s plan has some logic. History shows that a president can go against justice department recommendations and pardon even obvious criminals if they evoke his sympathy or align with his political interests.

However, even if Sam does get released through a pardon, he will face a much more difficult challenge. The crypto community is unlikely to restore his trust. Sam Bankman-Fried has already gone from the industry’s greatest hope to embody its worst fears — from creator of an empire to a symbol of lies and collapse.

For now, the disgraced FTX founder remains behind bars, counting days and hoping for a pardon. The question that currently concerns the crypto community is: will Trump give Sam Bankman-Fried a second chance, and if he does, will the former crypto king ever be able to restore his reputation?