Key Takeaways
- FTT soared 43% as a consequence of a false report that Sam Bankman-Fried acquired a Trump pardon.
- Consultants think about Bankman-Fried’s odds of a presidential pardon to be low regardless of ongoing lobbying.
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FTX’s native token, FTT, surged round 43% to $1.3 on Saturday following false stories that Sam Bankman-Fried acquired a pardon from President Donald Trump.
No proof of a pardon for Bankman-Fried seems on the Justice Division’s website of clemency grants from President Trump.
A number of crypto trade figures have beforehand acquired presidential pardons, together with BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, in addition to Silk Road creator Ross Ulbricht.
Bankman-Fried is actively pursuing a presidential pardon from Trump, with help from his mother and father Joseph Bankman and Barbara Fried and different allies, as he faces a 25-year jail sentence following his fraud conviction associated to FTX’s collapse.
Binance co-founder Changpeng “CZ” Zhao said in a latest interview that his staff had utilized for a pardon from President Trump.
Consultants view Bankman-Fried’s possibilities of receiving a pardon as low, citing Trump’s transactional strategy to clemency and Bankman-Fried’s earlier Democratic affiliations as potential obstacles.
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