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‘I’ll be shocked IF…’ – Elon Musk reacts to Biden pardoning FTX Founder rumours
Elon Musk has weighed in on the recent rumors surrounding President Joe Biden potentially granting a pardon to Sam Bankman-Fried, the former CEO of the now-defunct FTX exchange. In his reaction, the Tesla CEO stated that he would be “shocked” if such an event were to occur.
The development comes amid growing concerns over accountability and regulatory oversight in the cryptocurrency space following recent scandals and hacks. The possibility of a presidential pardon for Bankman-Fried has sparked widespread speculation among cryptocurrency enthusiasts, given his strong financial support for the Democratic Party.
According to reports, Bankman-Fried is facing a potential sentence ranging from 40 to 50 years for his role in FTX’s collapse, which led to significant losses for users and investors. His legal team has been actively seeking a reduced sentence, while the U.S. government has pushed for a harsher punishment.
Recent events have raised eyebrows, particularly following the unexpected pardon of President Biden’s son, Hunter Biden, just weeks ago. This development has heightened concerns about political influence on judicial decisions, further fueling speculation around potential presidential pardons.
The sudden surge in Polymarket odds, reflecting the likelihood of such an event, has also sparked debate and concern within the cryptocurrency community. The odds initially rose by 9% following Elon Musk’s reaction, before declining to currently stand at 7%.
As this saga continues to unfold, it is essential for regulators to re-examine their stance on accountability and oversight in the cryptocurrency sector.
Source: ambcrypto.com
