Pardon in the crypto industry
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Trump Pardoned Ross Ulbricht And Changpeng Zhao, But Won't Touch SBF — Here's Why
Yahoo Finance· 2026-01-11 19:31
Core Viewpoint - President Donald Trump has decided not to pardon former FTX CEO Sam Bankman-Fried, who is currently serving a 25-year sentence for fraud and conspiracy, despite having granted clemency to other figures in the cryptocurrency industry [1][5]. Group 1: Pardon Decisions - Trump's refusal to pardon Bankman-Fried contrasts sharply with his clemency for other crypto industry figures, including Ross Ulbricht, the founder of Silk Road, who was released in January 2025 after serving over a decade for facilitating $1 billion in illegal drug transactions [5]. - In March, Trump pardoned the co-founders of BitMEX, who violated anti-money laundering laws, and in October, he granted clemency to Binance founder Changpeng "CZ" Zhao, who had pleaded guilty to enabling money laundering and paid a $50 million fine [6]. Group 2: Lobbying Efforts - Bankman-Fried's parents attempted to lobby for a pardon by meeting with lawyers and others in Trump's circle, but their efforts were unsuccessful [2]. - The lobbying campaign faced challenges, particularly given Bankman-Fried's previous political contributions, including a $5.2 million donation to the Biden campaign in 2020, which may have complicated the possibility of a Trump pardon [3]. Group 3: Current Status - Bankman-Fried is currently appealing his conviction and is housed at the Metropolitan Detention Center in Brooklyn, reportedly sharing a dormitory with rapper Sean "Diddy" Combs, who also will not receive clemency [4].