Sam Bankman-Fried (SBF), founder of FTX and sentenced to 25 years in prison for fraud, is now the subject of a clemency discussion initiated by his parents with Donald Trump’s team. As the despair among FTX victims deepens, they express their discontent with these efforts.

According to reports, SBF’s parents met with legal advisors during Trump’s tenure to explore the possibility of obtaining a pardon for their son. Amidst this context, many victims of the FTX collapse have voiced their outrage, feeling that clemency sends a troubling message about accountability in financial fraud.

FTX Scandal Deepens: Victims’ Despair Grows

SBF, born on March 6, 1992, grew up in Stanford, California. Following a stellar educational journey, including a degree from MIT, he established Alameda Research before founding FTX in 2017. The exchange achieved a peak valuation of $32 billion, but it faced a catastrophic fallout in late 2022, leading to bankruptcy and significant financial losses for its customers.

Many victims, who suffered emotionally and financially due to the collapse, view the pursuit of clemency by SBF’s parents as an insult. They demand that justice prevails without exceptions, recounting their stories of financial devastation.

Quote:

“🚨 Outrageous! Sam Bankman-Fried’s parents are now lobbying for a presidential pardon after he defrauded billions. Justice shouldn’t be for sale.”

— CryptoHondo (@CryptoHondo)

The emotions among the victims reflect a broader sentiment in the cryptocurrency community, which has already witnessed the fallout from high-profile cases of financial misconduct. While discussions around clemency for SBF persist, many advocate for stringent measures to hold him accountable for his actions.