- Bankman’s parents are trying to get Trump’s support for a pardon as his case drags on.
- They believe his sentence is unfair since most FTX customers have recovered their funds.
- His pardon chances are low, but they hope Trump sees him as a victim of injustice.
Sam Bankman-Fried’s parents are seeking a presidential exemption for their son from Donald Trump, according to a Bloomberg report. Joseph Bankman and Barbara Fried, both Stanford Law School professors, have engaged with legislative experts and individuals in Trump’s inner circle. The extent of their discussions remains unclear, and it is uncertain if the State House has been directly contacted regarding clemency.
Their effort follows Trump’s history of granting clemency to figures with public support, such as Ross Ulbricht, the founder of Silk Road. However, Bankman-Fried lacks widespread backing, making his case uncertain. He has argued that his twenty-five-year sentence is excessively harsh, particularly since most FTX customers have recovered lost funds.
FTX Failure and Controversy Allegations
Bankman-Fried’s downfall began in November 2022 when a CoinDesk study revealed financial instability at Alameda Research, a FTX sister company. Shortly after, FTX—once the third-largest exchange—collapsed, wiping out billions in shareholder funds. Further investigations uncovered that Alameda had used a secret backdoor to misappropriate customer deposits under Fried’s leadership.
Once hailed as a rising star in crypto, he now faces years in jail for theft and conspiracy. His defense team continues to argue that his verdict was unjust. Former FTX executive Ryan Salame, who received over seven years behind bars, is also seeking clemency.
A Shared Legal Struggle with Trump?
A potential factor in Bankman-Fried’s appeal to Trump is their shared legal opponent—U.S. District Judge Lewis A. Kaplan. The judge, who sentenced Bankman-Fried, also presided over defamation and sexual assault cases against Trump. Both figures have accused Kaplan of unfair treatment, raising speculation about whether Trump might sympathize with Bankman-Fried’s legal grievances.
Despite these efforts, Bankman-Fried’s chances of a pardon remain low. Prediction markets suggest a 6% likelihood, a marginal increase from 5% on January 31. By contrast, Ulbricht’s pardon had a 95% probability on Polymarket before it was granted.
Related: Ross Ulbricht Thanks Trump After Pardon and Freedom
Snowden’s Case Raises Questions
As Bankman-Fried’s pardon request gains attention, another controversial figure remains in legal limbo—Edward Snowden. Advocates emphasize the public service aspect of Snowden’s NSA disclosures, which exposed mass surveillance programs. However, critics argue his actions endangered national security and that he should be held accountable.
His case has since attracted attention from market critiques arguing that Snowden should also receive a pardon since it has been the trajectory of Trump’s administration since his inauguration. With several people behind his back, as seen in the commentaries on social media, Trump is yet to comment on his case, while his supporters wait in anticipation for a positive response from the White House.
