FTX, the cryptocurrency exchange that caused a major collapse for Bitcoin (BTC) and altcoins with its sudden bankruptcy, still remains on the agenda.
At this point, Tesla CEO Elon Musk also joined the X speculation that FTX founder SBF could be pardoned early by President Joe Biden.
Elon Musk stated in a post on his X account that Sam Bankman-Fried (SBF), the founder of the bankrupt cryptocurrency exchange FTX and one of the largest donors to US Democrats, may receive an early pardon from US President Joe Biden.
Musk then said he would be shocked if Biden did not pardon SBF early, adding, “I would be shocked if that doesn’t happen.”
Rumors that Biden could pardon SBF have caused a surge in the FTX Token (FTT) price.
Following the news, the probability that Biden will pardon SBF increased from 5% to 9% on Polymarket.
As is known, SBF was sentenced to 25 years in prison for multiple crimes, including fraud.
SBF recently filed a court appeal against his fraud conviction, claiming that the judge overseeing his case was unfairly biased against him. However, the appeal was rejected by US authorities.
SBF had previously donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats in the run-up to the U.S. midterm election cycle.
*This is not investment advice.
