Trump Rules Out Pardon for FTX Founder Sam Bankman-Fried: NYT
President Donald Trump stated he will not pardon FTX co-founder Sam Bankman-Fried, who was convicted of fraud and conspiracy for misappropriating FTX customer funds and sentenced to 25 years in prison. Despite attempts by Bankman-Fried’s family to secure a pardon, Trump declined, distinguishing his administration’s crypto-friendly stance from major fraud cases. Trump has pardoned other crypto figures, such as Ross Ulbricht, BitMEX’s co-founders, and Binance founder Changpeng “CZ” Zhao, citing what he sees as unfair prosecution by the previous administration. Trump defended his family’s ongoing business activities in the crypto sector while he is in office, arguing that supporting crypto is both politically and strategically motivated, including competition with China. He dismissed concerns about potential conflicts of interest and highlighted the political benefits he believes come from backing the crypto industry.
