SBF clemency faces long odds despite Ulbricht pardon precedent

Sam Bankman-Fried (SBF), former CEO of FTX (CRYPTO:FTT), is exploring clemency options following the pardon of Ross Ulbricht by former President Donald Trump. However, his chances of receiving a pardon remain slim.

William Livolsi, executive director of the White Collar Support Group, explained that pardon backlogs and the politicised nature of the process hinder many applicants.

The Office of the Pardon Attorney, responsible for handling such requests, faces a backlog of approximately 10,000 petitions.

SBF’s parents are reportedly seeking a presidential pardon for their son after his 25-year sentence for fraud and financial crimes.

However, Livolsi points out that the comparison between Ulbricht’s pardon and SBF’s situation is not straightforward, as Ulbricht’s pardon was linked to a campaign promise.

Livolsi also highlighted that pardons are often granted based on political connections or media pressure, rather than a formal application process, which is supposed to end with a recommendation from the Pardon Attorney.

Furthermore, individuals who are released from prison often face challenges like "debanking," where their accounts are closed and they face financial blacklistin

The White Collar Support Group has launched the Right to Banking Initiative to address these issues.

Despite SBF’s ties to the Democratic Party and political campaign donations, experts suggest that his chances of clemency are low.

Prediction platforms estimate only a small chance of relief, and while some hope for more white-collar pardons under Trump, the unpredictable nature of the system adds uncertainty.