The 25-year prison sentence for FTX CEO Sam Bankman-Fried remains in place after the White House confirmed that President Donald Trump had ruled out granting him a pardon.

In 2023, the founder of the crypto platform was found guilty and sentenced to 25 years in prison “on seven counts of fraud and conspiracy.” At the time, it was stated that Bankman-Fried had caused the “collapse of the platform by deceiving customers, lenders, and investors.”

Although Trump granted pardons last year to other crypto executives, such as Changpeng Zhao of Binance and Arthur Hayes of BitMEX, Bankman-Fried’s case is different because his “role as a major donor to the Biden administration, which damaged his image. “The crypto sector sees him as a villain, which complicates his search for clemency.”

The White House reaffirmed Trump’s position on the case, denying the pardon and upholding the sentence from three years ago.

M.Pino

Source: cripto247

(Reference image source: Tabrez Syed on Unsplash)          

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La entrada Trump rejects pardon for FTX founder Sam Bankman-Fried apareció primero en Bitfinance.