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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.  

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