- Sam Bankman-Fried claims trial was politicized; prosecutor biased.
- Some in crypto community oppose potential pardon for SBF.
Sam Bankman-Fried (SBF), former CEO of the defunct FTX crypto exchange, asserted in a recent interview from prison that the bankruptcy process was mishandled, expressing hope for a possible pardon.
In his interview with The New York Sun, he stated,
> “There were enough assets to pay everyone back in-kind, in full, in November 2022…If these debtors hadn’t stepped in, customers wouldn’t have waited two and a half years to get their money.”
SBF Appeal Resolution
SBF characterized the situation in November 2022 as a liquidity crisis, arguing it should not have led to bankruptcy. On his future plans, he expressed cautious optimism regarding the outcome of his appeal, which he anticipates will be resolved with oral arguments in the next 3-6 months.
> “I feel cautiously optimistic, but the odds are always against me. I’m hopeful that I get judges who are open to a critical and careful look at what happened.”
He was sentenced to 25 years for fraud and money laundering, claiming that his trial was politicized and that his defense team lacked sufficient preparation time.
> “The Trump camp has seen biased judges in terms of prosecutorial abuse and politicization of the DoJ over the last decade and speeding up recently. My trial is part of the picture.”
SBF criticized the Joe Biden Administration and Democrats, which he previously supported, as ‘destructive’ to the crypto industry, while viewing the Republican Party as ‘far more reasonable.’
His perceived alignment with President Donald Trump is seen by some as a strategy to seek a pardon. Reports from Bloomberg indicated that his parents have reached out to the president’s inner circle for clemency support.
However, there’s opposition within the crypto community regarding a potential pardon. Crypto trader Pierre warned,
> “If they free him, we’re never coming back.”
Market commentator Adam Cochran echoed this sentiment, stating that efforts should be made to prevent SBF’s pardon:
> “I think we have to buy billboards all over DC with SBF’s pro-Biden posts, just to ensure he is never pardoned. This is an issue we can all agree on.”
Meanwhile, the FTX estate has begun repaying smaller claims, approving the first batch worth $50K or less, and intends to address larger claims starting May 30.
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