Pardons Galore: Who is Next on Trump’s List?

President Donald Trump has been on a pardon-spree, exercising his executive powers to pardon prominent figures in the crypto world, including BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, along with Gregory Dwyer, a former high-ranking executive at the exchange. Trump also commuted the prison sentence of Carlos Watson, the co-founder of Ozy Media, and pardoned Trevor Milton, the convicted founder of the electric vehicle startup Nikola.

As such, many are asking two questions:

• Who is next?

• Is it going to SBF?

Trump's Crypto Pardons: A Strategic Play or Justice Served?

Arthur Hayes, Benjamin Delo, and Samuel Reed, the co-founders of BitMEX, had pled guilty to violating the Bank Secrecy Act by failing to implement AML and KYC programs on their exchange. Despite their claims of complying with US regulations, prosecutors accused BitMEX of functioning as a “money laundering platform,” enabling US users to access its services without proper oversight.

As part of their plea agreements, the BitMEX founders were sentenced to probation and were ordered to pay a collective $30 million in civil fines. However, Trump’s full pardons now wipe those convictions clean, allowing the trio to move forward without the cloud of criminal records.

Hayes expressed his gratitude in a tweet on Friday. 

Delo released a more detailed statement. He also criticized US prosecutors for unfairly targeting BitMEX and suggested that the exchange had been used as a scapegoat to send a message to the crypto industry. 

Sam Bankman-Fried’s Bid for a Presidential Pardon: Reality or Wishful Thinking?

As Trump’s clemency spree extends to controversial financial figures, speculation is swirling about whether Sam Bankman-Fried could be next.

The disgraced founder of FTX is currently serving a 25-year prison sentence after being convicted in 2023 on multiple counts of fraud, conspiracy, and money laundering. His spectacular fall from grace came after FTX collapsed in late 2022, exposing a multibillion-dollar fraud scheme that saw customer funds misused for high-risk investments, real estate purchases, and political contributions through Alameda Research.

In recent months, Bankman-Fried has been vocally criticizing the Biden administration, claiming that his prosecution was politically motivated and that the DoJ targeted him unfairly. In an interview with The New York Sun, SBF expressed frustration with US District Judge Lewis Kaplan, a Clinton-era appointee who presided over his case. He argued that former FTX executives, such as Caroline Ellison and Ryan Salame, received lenient treatment because of their Democratic ties, whereas he was made an example of due to his high-profile status and political donations.

SBF’s Shift in Allegiance: Aligning with Trump and the GOP

Prior to his arrest, SBF used to be one of the biggest donors of the Democratic party. However, since his arrest, he has pivoted hard and seemingly aligned himself with trump.

In a recent interview from his Brooklyn detention center, SBF echoed Trump’s rhetoric, accusing the DOJ of being “weaponized for political purposes” and claiming that his prosecution was part of a larger pattern of “prosecutorial abuse” under the Biden administration.

Bankman-Fried has also been highly critical of the SEC under Chair Gary Gensler, calling the regulatory environment “a nightmare” and praising Trump’s more favorable stance on cryptocurrency regulation.

In another interview with Tucker Carlson, SBF doubled down on his claims that FTX’s collapse was the result of “external interference” rather than internal mismanagement. He argued that FTX would have survived if not for the actions of the Biden administration, which allegedly pressured him into declaring bankruptcy.

Sources close to the Bankman-Fried family also disclosed that his parents, prominent legal scholars Joseph Bankman and Barbara Fried, have been making discreet efforts to connect with Trump’s inner circle in hopes of securing clemency.

Polymarket Shoes That The Odds Are Slim

Despite SBF’s efforts to cozy up to Trump and his legal team’s lobbying, Polymarket bettors currently place the likelihood of a Trump pardon for SBF at just 3%. 

While the odds may seem slim, Trump’s unpredictability and willingness to use his pardon powers for high-profile figures leave a small window of possibility. However, that doesn’t seem realistic.

Why a Pardon for SBF Could Be Politically Dangerous for Trump

While Trump’s pardons for crypto figures like the BitMEX founders and Trevor Milton have garnered praise from sections of the crypto community, pardoning SBF carries significant political risks. Bankman-Fried’s name is synonymous with one of the largest financial frauds in recent history, and a pardon could alienate both moderate Republicans and independents who view his actions as egregious.

Moreover, SBF’s political baggage includes his extensive donations to Democratic campaigns and progressive causes, which complicates Trump’s narrative of “draining the swamp.” A pardon for SBF could be perceived as a betrayal by Trump’s base, undermining his tough-on-crime rhetoric and fueling criticism from political opponents.

What do you think?

Will SBF be pardoned? Let us know.