Sam Bankman-Fried (SBF), the ex-CEO of the now-defunct FTX cryptocurrency platform, has voiced concerns about how the closure of the exchange was mishandled and has expressed optimism about the possibility of receiving a pardon.
During a recent interview with The New York Sun conducted from his prison cell, he stated,
“There were sufficient assets available to fully reimburse all customers by November 2022… had it not been for the intervention of these debtors, customers would not have had to wait two and a half years to receive their funds.”
SBF’s Plea for Resolution
He further mentioned that the situation at FTX in November 2022 was primarily due to a liquidity crisis and should not have resulted in bankruptcy.
When questioned about his plans for the coming months, he expressed hope for a successful appeal despite facing unfavorable odds.
“My appeal is anticipated to be resolved with an oral hearing within the next 3-6 months. While I am cautiously optimistic, the odds are typically stacked against me. I am optimistic that I will be granted a fair and thorough examination of the circumstances by the judges involved.”
Following a verdict that sentenced him to 25 years on charges of fraud and money laundering, Bankman-Fried remarked that his case had been “politicized” and that his legal team had not been given enough time to mount his defense.
“The involvement of biased judges in the Trump administration, along with the increased politicization of the Department of Justice over the past decade, has become more evident. My trial is part of this broader scenario.”
He went on to assert that the crypto industry had been adversely affected by the policies of the Joe Biden Administration and the Democratic Party, adding that the Republican Party had shown a more reasonable stance.
His perceived alignment with President Donald Trump and the Republican Party has caused some to speculate that seeking a pardon is part of Bankman-Fried’s strategy.
According to a recent Bloomberg report, his parents have reached out to Trump’s inner circle to advocate for his clemency.
While it remains uncertain whether the President will grant a pardon, opposition within the community has also surfaced. One crypto trader, Pierre, warned of a mass exodus from the industry if Bankman-Fried is released.
“Should he be released, we would not return.”
Another market commentator, Adam Cochran, echoed the sentiment that Bankman-Fried should not receive a pardon.
“I propose that we post SBF’s pro-Biden statements on billboards across DC to ensure that he does not receive a pardon. This is a common ground we can all agree upon.”
Meanwhile, FTX’s estate has initiated repayments for claims amounting to $50,000 or less, with plans to address larger claims starting from May 30th.