In-Depth Look at Crypto Speculation: SBF’s Pardon Odds Soar in Polymarket
The cryptocurrency world is buzzing with speculation as betting platform Polymarket experiences a surge in activity. The focus is on the possibility of a presidential pardon for former FTX CEO Sam Bankman-Fried by Donald Trump.
Polymarket Sees Rising Bets on SBF’s Potential Pardon
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After Donald Trump’s unexpected pardon of Binance founder Changpeng “CZ” Zhao, Polymarket observed a dramatic increase in the odds for a pardon of Sam Bankman-Fried. Within just 12 hours, these odds jumped from 5.6% to over 12%, with wagering volumes exceeding $66,339. This change reflects a growing interest in whether Trump’s pro-crypto stance could benefit other notable figures in the industry.
Bankman-Fried is currently serving a 25-year sentence due to charges of fraud and conspiracy. While he is appealing his conviction, analysts believe a verdict is unlikely before the year’s end, making a presidential pardon his most viable option for early release.
Trump’s Pardon of CZ Sparks Comparisons and Controversy
The increase in betting odds followed Trump’s pardon of CZ, who had been incarcerated for four months due to Anti-Money Laundering violations. Trump asserted that Zhao was “persecuted by the Biden administration” and claimed his actions “were not even a crime.”
Crypto analysts quickly drew comparisons between CZ’s relatively minor compliance issues and Bankman-Fried’s extensive fraud involving billions in customer funds. Crypto lawyer Sasha Hodder remarked, “CZ’s wrongdoing was compliance-related and nowhere near the scale of SBF’s.” Similarly, attorney Jake Chervinsky expressed skepticism about a pardon for Bankman-Fried, noting his role as a “Democratic mega-donor” and the political ramifications of FTX’s collapse.
Political Connections: A Pivotal Factor in SBF’s Pardon Prospects
It has been reported that Bankman-Fried and his family are quietly advocating for leniency, with his parents seeking support from individuals close to Trump. In addition, he has appeared on conservative media platforms, attempting to portray himself as a victim of political bias.
Unlike CZ, who has connections to Trump’s circle through the World Liberty Financial crypto initiative, Bankman-Fried lacks direct political ties. Experts suggest this diminishes his chances of receiving a pardon, despite the increasing odds on Polymarket.
Nevertheless, the revived speculation illustrates how Trump’s pro-crypto actions are shaping the discourse around justice and influence in the digital finance world.
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