Polymarket Bets Are Skyrocketing: Will Biden Pardon SBF, The Fallen King Of Crypto?

Before handing the baton to Donald Trump, Joe Biden could grant clemency to several controversial figures, including Sam Bankman-Fried, aka SBF. The former fallen crypto king has left a gaping hole of several billion with the collapse of FTX. But he was also one of the major donors to the Democratic presidential campaign. The crypto industry is holding its breath, as online betting is going crazy on Polymarket: Will Biden grant one last mercy?

Polymarket and bets on the fallen crypto king

On Polymarket, the crypto 2.0 casino, Sam Bankman-Fried, former CEO of FTX, is being discussed again. Bettors give Biden a 1 in 25 chance of pardoning SBF, and a 1 in 50 chance for Ross Ulbricht, founder of Silk Road. It seems that algorithms have a soft spot for disgraced millionaires.

Key figures:

• 5 million dollars wagered on a presidential pardon for SBF;
• 1.2 million dollars for Ulbricht;
• 4% chance for SBF compared to only 2% for Ulbricht.

Sam Bankman-Fried is currently serving a 25-year sentence for a series of frauds related to FTX. Despite his appeals, the axe remains hanging.

“SBF is not just a crook, he is also a political benefactor,” remind the Twitter users.

https://twitter.com/AltcoinDailyio/status/1755338876871414054

The virulent tweet from Altcoin Daily highlights his role as Biden’s second-largest donor in 2020, with 5.2 million dollars. So, will justice prevail over political gratitude?

Trump: crypto as a tool for redemption

As for Donald Trump, he plays the crypto savior. The populist icon has promised to commute the sentence of Ross Ulbricht, sentenced to life for his role in the darknet black market. Paradoxically, Trump has never ventured to pardon Ulbricht during his first term, but the situation could change.

That’s not all: Trump has also considered pardoning Edward Snowden. But the name of SBF remains absent from discussions among his advisors. Should this be seen as a lack of interest in the former head of the crypto exchange FTX (issuer of the FTT token) or a calculated strategy?

The crypto community hopes that these symbolic gestures will mark a new era of clemency towards its emblematic figures.

Donald Trump, as a fan of spectacular moves, might as soon as he returns to power save Ross Ulbricht, without waiting for Joe Biden to make a decision.