Laura Loomer’s Claims on Social Media
On Wednesday, conservative activist Laura Loomer took to social media, stirring discussion with her claim that a significant and financially backed initiative is underway to persuade former President Donald Trump to grant a pardon to Sam Bankman-Fried, the founder and ex-CEO of the failed cryptocurrency platform FTX, who was recently convicted. Loomer asserted her belief on X, warning followers not to fall for Bankman-Fried’s narrative that he was a victim of political maneuvering by Joe Biden and Democrats after having previously supported their campaigns financially.
Debate and Speculation
This statement quickly gained traction, igniting debates among followers who viewed it through the lens of political conspiracy or corruption. However, the veracity of Loomer’s assertion remains questionable. While some indications suggest there may be an effort for clemency, it has yet to materialize into the organized campaign she describes.
“Bloomberg previously reported in January that Bankman-Fried’s parents, both law professors at Stanford, had investigated potential avenues to seek a pardon from Trump’s administration.”
Sources familiar with the matter indicated that their effort was serious enough to produce strategic memos and engage legal representatives, although there’s no confirmed communication with Trump’s people.
Bankman-Fried’s Situation
Following his 25-year prison sentence and a staggering $11 billion in forfeitures, Bankman-Fried has worked to reformat his public persona in light of his ongoing appeal. He distanced himself from his previous Democratic political affiliations in a March interview with Tucker Carlson, even suggesting he sympathized with Republican criticisms aimed at federal prosecutors.
Speculation regarding a pardon reached a peak in July when a spike in the value of FTX’s failed token, FTT, was linked to a false social media rumor claiming that Trump had already granted Bankman-Fried a pardon. Despite the uproar, the clemency log maintained by the Justice Department showed no record of such an action, highlighting the volatile nature of political speculation within cryptocurrency markets.
Lobbying Efforts and Future Prospects
An examination of the Lobbying Disclosure Act database reveals no registered firms lobbying for a pardon for Bankman-Fried or any associated clemency efforts. Experts point out that efforts to lobby for pardons often slip under the radar of disclosure requirements, as lobbyists may categorize their activities as “government relations” to bypass registration.
Moreover, the Justice Department’s potential clemency list for 2025 does not currently feature Bankman-Fried’s name. There are no filings or documents indicating that any formal petition exists beyond initial discussions. Bettors on Polymarket assign a mere 3% chance that he could be released from prison by 2025, reflecting slim odds.
Conclusion
Nevertheless, the realm of pardons is fraught with unpredictability. Trump has granted pardons in the past, including to BitMEX founder Arthur Hayes and his colleagues earlier this year. Speculation regarding other high-profile figures, like Binance founder Changpeng “CZ” Zhao, also persists. Yet, for now, Loomer’s claims of a sprawling lobbying effort find little foundation; they appear more as conjecture than substantiated reality.
