Sam Bankman-Fried, co-founder and former CEO of collapsed cryptocurrency exchange FTX, has in recent months repeatedly called for a retrial in New York, where he was sentenced to 25 years in prison after the company collapsed in 2022.
His renewed public statements coincided with growing online speculation that he may seek a presidential pardon, especially after former Binance CEO Changpeng Zhao (CZ) was arrested. Sorry Last year by President Donald Trump.
Sam Bankman Fried praises the law of clarity
Speculation intensified this week after Sam Bankman Fried posted on X, formerly of Twitter, praising the proposed CLARITY law. In his country messageHe called the bill a major milestone for the cryptocurrency industry and a “huge accomplishment” for President Trump.
He added that he supported similar efforts in the past to remove oversight of digital assets from former Securities and Exchange Commission (SEC) Chairman Gary Gensler, claiming that Gensler helped the Biden administration’s Department of Justice (DOJ) bring charges against him.
In the same post, Sam Bankman-Fried pointed to a letter from the House Financial Services Committee. the documentsigned by Chairman Patrick McHenry, called on the SEC to provide records and communications involving the agency’s Enforcement Division, the Office of the President and the Department of Justice.
Lawmakers sought information about the timing of the charges against Sam Bankman-Fried and his arrest, which occurred shortly before he was scheduled to testify before the House Financial Services Committee.
Senator Cynthia Lummis, a prominent proponent of digital assets closely linked to President Trump Cryptocurrency policy agendaHe responded sharply to Bankman-Fried’s statements. She wrote Thursday that his praise of the Clarity Act was self-serving.
Loomis rejects amnesty talks
“Someone is looking for a pardon and doesn’t realize that the Clarity Act would have put you in prison for longer than 25 years,” the senator said in her remarks.
Loomis also distanced her proposal from any previous legislative efforts related to Sam Bankman Fried, It helps“My legislation could not be more different than the bill I tried to buy from Congress over my veto in 2022. We do not need or want your support.”
Her comments were echoed by some social media users, including one person who pointed out that the CLARITY Act includes tougher criminal penalties for fraud, misrepresentation, and misuse of customer assets when it comes to digital assets.
According to this interpretation, some cryptocurrency-related crimes would be treated as aggravated financial crimes, adding additional years to standard wire fraud sentences. “Please get it!!” user books In response to Loomis’ statements.
The CLARITY Act, also known as the broader cryptocurrency market structure bill, is still being negotiated. It is currently on hold as representatives of the banking and cryptocurrency sectors prepare for another meeting at the White House scheduled for Friday.
Conversations are expected To focus on unresolved issues, including stablecoin rewards programs, decentralized finance (DeFi) provisions and ethics-related measures that have complicated previous drafts.
Industry participants and administration officials noted that progress is being made. Patrick Witt, executive director of the President’s Council of Advisors on Digital Assets, called last week’s discussions a “huge step forward.”
In a general letter, Witt books“We are close,” he said, adding that if the two sides continue to negotiate in good faith, he believes the administration’s March 1 deadline can still be met.
Featured image of Fortune, chart from TradingView.com
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