Why FTX Founder Sam Bankman Fried Might Get Presidential Pardon in January 2025?

FTX founder Sam Bankman Fried is facing 25 years of imprisonment for his role in the FTX crash. However, his legal team is constantly working on reducing the sentence, which is why the upcoming bankruptcy proceedings in January 2025 are crucial. However, rumors are circulating about Sam getting Joe Biden’s presidential pardon, and here is why.

Sam Bankman Fried Might Get Presidential Pardon In January

Sam Bankman Fried founded FTX around five years ago and pushed it to the biggest and most popular crypto exchange position. However, he also became the reason behind its collapse around 3 years ago, when he and his associates used the investor’s money for personal gains, emptying the holding and pushing the exchange to bankruptcy. With that, he created an unforgettable series of events for investors.

However, he is going to spend 25 years imprisoned unless he receives the Presidential pardon, which might be in process as recent findings reveal political connections. Meanwhile, his associates, like Caroline Ellison, had just started their imprisonment.

These rumors began with a Polymarket discussion, which started in April 2024, as to whether President Biden would use his Presidential pardon to save Bankman-Fried. A few percent of people agreed, and the remaining were clueless as the presidential election was underway. However, now Trump has won the election, and the inauguration is due on January 20, 2025. With that, the question remerged as ‘Will Sam Bankman Fried get Biden’s pardon?’ especially as Sam was among the biggest contributors to Biden’s campaign in the 2020 presidential race.

At that time, the former CEO and founder donated $5.2M to Biden’s campaign. Further findings also indicate that Sam spent more than $40M on Democrats, in which The Protect Our Future PAC got $27M,  the House Majority PAC got $6 million, and much more. With that the rumors of political favors began, as Sam could get Biden’s pardon to settle the support debt. With that, the recent Polymarket betting on Joe Biden pardoning Sam Bankman Fried has reached 16%, currently 9%. More importantly, Elon Musk fueled the fire with his recent comments on these Biden pardon rumors.

Elon Musk Will Be Shocked If This Didn’t Happen

Wall Street Mav, an X page with 1.5M followers, posted on X today, saying, “Guess who might get an early pardon from President Biden.” Along with the question, he shared the Sam and Biden pics, further revealing that Sam was the second-largest donor to Democrats. Interestingly, the post received 800K plus views and comments from Tesla owner Elon Musk, further boosting the claims. He said, “I will be shocked if this doesn’t happen.”

Although this escalated the situation, Biden has not shown signs of this. However, the netizen’s concerns are persistent, as just a few weeks ago, Joe gave the presidential pardon to his son, Hunter Biden, despite previous promises not to do so. Interestingly, a crypto investor made $331k, betting Joe Biden would pardon his son.

Final Thoughts

Bankman’s upcoming hearing is near Donald Trump taking the position as the 47th president. Interestingly, rumors have begun circulating, stating that Joe Biden would use the Presidential Pardon to give some slack to FTX founder Sam Bankman Fried due to their political ties. This conclusion is with findings that Sam was the second biggest donor to democrats during the 2022 election, in which Joe Biden won. However, there is no clear evidence around this, but Biden’s pardon of his son has increased the possibility of this happening.