Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Elon Musk says he will be shocked if Biden doesn’t pardon SBF

Elon Musk says he will be shocked if Biden doesn’t pardon SBF

GrafaGrafa2024/12/24 09:00
By:Isaac Francis

Elon Musk has expressed that he would be “shocked” if U.S. President Joe Biden does not grant a pardon to Sam Bankman-Fried (SBF), the former CEO of FTX (CRYPTO:FTT), amid growing speculation surrounding the possibility.  

Bankman-Fried, convicted in November 2023 on seven charges, including fraud and embezzlement, is currently serving a 25-year sentence for his involvement in the FTX collapse.  

However, rumors of a presidential pardon have gained momentum, partly due to his strong political connections.  

As one of the largest donors to the Democratic Party, Bankman-Fried has ties to influential figures, particularly President Biden.  

His political influence has led many to question whether this could play a role in securing a pardon.  

These speculations gained additional attention after Musk tweeted that he would be “shocked if this doesn’t happen.”  

The odds of a pardon for SBF have risen significantly, with predictions on platforms like Polymarket showing a jump from 4% to 13%.  

This shift in probability reflects the increasing belief that his political connections could influence the decision.  

Bankman-Fried’s rise and fall in the crypto industry has been one of the most dramatic stories in recent financial history.  

At his peak, he was hailed as a crypto prodigy and philanthropist, with over $5 million donated to Biden’s 2020 campaign.  

However, the collapse of FTX in late 2022 exposed a staggering $8 billion hole in customer funds, leading to his legal troubles. 

While Bankman-Fried serves his sentence, some continue to speculate that a pardon could allow the Biden administration to distance itself from the controversy.  

The fate of figures like Bankman-Fried and Ross Ulbricht, the creator of Silk Road, remains a topic of heated debate.  

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like