FTX News: SBF Seeks Presidential Pardon from Trump, Sparking Crypto Community Controversy

In a surprising turn of events, the convicted founder of the now-collapsed cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), is reportedly attempting to secure a presidential pardon from former U.S. President Donald Trump. This bold move has stirred up quite a storm in the crypto community, with many questioning the motives behind such a request. Despite the best efforts of his influential parents, Stanford Law School professors Joseph Bankman and Barbara Fried, to mitigate his sentence, SBF’s chances of obtaining a pardon appear to be slim. The outcome of this situation could have far-reaching implications for public perception of the cryptocurrency industry and potential future regulations.

SBF’s Jailhouse Gambit: Will Trump Answer His Call?

Convicted FTX founder Sam Bankman-Fried, known as SBF, is reportedly seeking a presidential pardon from Donald Trump. This move has sparked controversy in the crypto community. Despite efforts by his parents, Stanford Law School professors Joseph Bankman and Barbara Fried, to reduce his sentence, SBF’s chances of a pardon remain slim. The outcome of this situation could significantly impact public perception of crypto and future regulations.

Alameda Unstakes $23M SOL, Sparking Selloff Fears as Solana Nears Death Cross

Alameda Research unstaked $23 million worth of Solana (SOL) and distributed it to 37 FTX-linked addresses holding $178.82M SOL, raising concerns of a potential selloff. On-chain data reveals the funds were distributed to multiple addresses linked to FTX and Alameda, intensifying fears of market pressure. Historically, such large-scale unstaking events have triggered price downturns. Solana is also nearing a death cross, with past occurrences leading to 90%+ declines, dimming $200 price projections. SOL currently trades at $125.47, down 15% weekly, with daily volume dropping 22.71% to $4.1B, signaling reduced market activity.