Bloomberg reports that FTX founder SBF has officially submitted a presidential pardon request to Trump through the proper channels. He is currently serving a 25-year sentence, and his family has been lobbying for months.
However, there are significant obstacles: Trump stated back in January that he has no intention of pardoning SBF, and several pro-crypto Republican lawmakers are also against it, citing high political risks. If there’s a shift in attitude, the market conversation might not just revolve around SBF himself, but rather the boundaries of the U.S. political scene regarding the 'cleaning up' of old cases in the crypto industry.
The FTX incident remains a pivotal case for restoring trust in the sector; whether the pardon can go through seems more like a political issue in the short term, but will impact the regulatory narrative in the long run. #FTX #SBF #crypto-regulation
However, there are significant obstacles: Trump stated back in January that he has no intention of pardoning SBF, and several pro-crypto Republican lawmakers are also against it, citing high political risks. If there’s a shift in attitude, the market conversation might not just revolve around SBF himself, but rather the boundaries of the U.S. political scene regarding the 'cleaning up' of old cases in the crypto industry.
The FTX incident remains a pivotal case for restoring trust in the sector; whether the pardon can go through seems more like a political issue in the short term, but will impact the regulatory narrative in the long run. #FTX #SBF #crypto-regulation