Features Crypto News by Thebittimes.Com

The parents of former FTX CEO Sam Bankman-Fried, who was sentenced to 25 years in prison last year for his role in the exchange’s collapse, are reportedly exploring the possibility of obtaining a presidential pardon for their son. In a Jan. 30 report , Bloomberg cited anonymous sources who said that Bankman-Fried’s parents, Stanford Law professors Joseph Bankman and Barbara Fried, have already met with people close to the Donald Trump administration to determine whether clemency is possible. White-Collar Defendants Submit Clemency Requests To Trump Administration President Trump is seen as a powerful ally for the digital asset industry. While that might not be enough to absolve Bankman-Fried of his sentence, there is growing hope among white-collar defendants that Trump is open to hearing their cases. Before considering Sam Bankman-Fried for a pardon, how about Edward Snowden? pic.twitter.com/DcvEc46Btl — TaraBull (@TaraBull808) January 30, 2025 According to w...

Pardoned Silk Road founder Ross Ulbricht — or somebody who controls his wallet keys — has seemingly lost around $12 million on two disastrous trades on memecoin platform Pump Fun. Ulbricht, who was pardoned by President Donald Trump earlier this month, had been receiving donations, including Solana (SOL), from the crypto community throughout his 10-year prison stay. While most assumed he’d simply sell these assets upon his release, the world learned today that he — or someone who controls his keys — has instead been trading on Pump Fun . Unfortunately, the wallet’s owner made a catastrophic mistake on at least two Solana orders and lost an estimated $12 million . To make things worse for Ulbricht, he lost the funds to a sophisticated Maximal Extractable Value (MEV) bot operator, meaning he’s not even able to claim that he was giving back to his community of supporters. Ulbricht accidentally created a Constant-Product Market Maker ...