Key takeout
- Sambankmanfried's transition to conservative politics aims to seek the president's pardon for his FTX fraud case.
- His strategy is targeting Trump, but he faces widespread criticism due to the impact of the collapse of FTX's retail investors.
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So Sam Bankmanfried crosses the line and now he wants to flip the sides to escape his writing. Political insiders aren't convinced.
The dishonorable Crypto Mogul, also known as SBF, and former FTX CEO, are seeking a presidential pardon from President Donald Trump. However, the general consensus is that he is very unlikely to receive pardon.
Fortune reported Monday that political insiders have already called the SBF's attempts to pardon a long shot. He has stepped up efforts to secure a presidential pardon, including rebranding himself as more consistent with Republican views.
In an unauthorized prison interview with Tucker Carlson last week, the bank expressed praise for Republicans and distanced himself from Democrats. In the interview, he was thrown into solitary confinement for violating prison rules regarding fraudulent communication.
Anonymously, the crypto lobbyist rated the probability of a bank-fuel pardon campaign as “zero,” taking into account the dynamics of the “Trump World” and later corrected it to “near zero.”
Bid for pardon
Following his conviction in the FTX fraud case, it is not entirely impossible for the bank to have the right-hand pivots to be part of a calculated strategy to secure a presidential pardon.
Some speculate that his lawsuit might catch Trump's interest. It's not because of the cryptography connections, but because of his dissatisfaction with Trump's legal system.
According to a recent report in The New York Times, his family and allies are working to secure pardons, taking advantage of Trump's history of recognizing tolerance to individuals who have connections with him or those who resonate with his dissatisfaction.
But just because it is attractive doesn't mean that your bid will ultimately succeed. There are no good-intention cases for pardon. The SBF has shown no regrets and has no real supporters.
Most importantly, Trump's complaints about the legal system may not outweigh his commitment to “law and order.”
Legal experts suggest that having bankers clean up could potentially alienate Trump's support bases, particularly working-class Americans and small investors affected by the collapse of FTX.
During the first week of his presidency, Trump forgives Silk Road founder Ross Ulbricht, fulfilling the important promises Trump made in his reelection campaign. He criticized the prosecutors involved and called 40 years in addition to his double life sentence “silly.”
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