Several big stories and developments have occurred in the crypto space this week, including rumors of a presidential pardon for FTX’s Sam Bankman-Fried, EU exchanges delisting Tether’s USDT, and Ripple donating $5 million to Trump’s Inauguration.

Centralized exchange Crypto.com also expanded US operations, as Singapore and Hong Kong have become major regional industry hubs.

Rumored Pardon for FTX’s Sam Bankman-Fried

Rumors have been circulating that Sam Bankman-Fried (SBF), the infamous founder of FTX, who caused one of the largest financial collapses in the industry, might receive a Presidential pardon. Tesla CEO Elon Musk claimed he would be “shocked” if SBF does not receive a pardon.

These rumors are based on the fact that SBF was the second-largest individual donor for the Democratic party in 2020 before his arrest.

“Sam Bankman-Fried used over $100 million in stolen customer funds to donate to political campaigns. Watch him get pardoned. 100% Biden,” wrote Jason Williams. 

Not everyone agrees with this analysis. For example, the US government has been signaling a new friendliness to crypto, and the new pro-industry SDNY Attorney claimed that his office would curtail crypto prosecutions. However, this would only happen after he finishes dismissing SBF’s appeal. In other words, there is a strong motivation to keep him locked up.

Yet, this strong motivation may not amount to much. Joe Biden is currently in a lame-duck period; h

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Author: Landon Manning