Ever since the day Ross Ulbricht walked out of prison, a free man, Sam Bankman-Fried's parents believed that they could perform the same miracle for their son.

According to a Bloomberg report, Bankman-Fried's parents, Joseph Bankman and Barbra Fried-both Sanford Law School professors-have already met with lawyers and other figures close to President Donald Trump administration to beg for a possible clemency for their son.

Once hailed as the golden child of crypto, Sam-Bankman-Fried is currently serving a 25-year prison sentence after his company FTX fell apart and was exposed of fraud, embezzlement, and misuse of customer funds.

Could Sam Bankman-Fried be freed in the name of crypto

Although many in the crypto community thought that Bankman-Fried's chance at clemency was higher under former U.S President Joe Biden, the Trump administration has become a powerful ally for the industry.

While this might not be enough to completely pardon Sam Bankman-Fried of all his wrongdoings, there is still growing hope among white-collar defendants that President Trump might be open to hearing his case.

White-collar prison consultant Sam Mangel told Bloomberg that several defendants have submitted clemency requests since Trump was elected.

Their hope for clemency likely grew after President Trump followed through his campaign promise to pardon Silk Road Founder Ross Ulbricht, who had served 11 years out of a double life sentence.

Another example was when President Trump also followed through his promise to free the 1,500 people who were convicted and charged in the connection with the Jan 6 insurrection as he promised during his campaign.

Many of these cases where President Trump has indeed granted clemency were promised that Trump had made during his campaign, and he stayed true to his word after he was elected. But President Trump had previously made no mention of Sam Bankman-Fried, or any mention of granting him a pardon for any reason.

Bankman-Fried's unrepentence might very well lower his chance of being freed

It also seemed that Bankman-Fried didn't make a very good impression on the local prosecutors either.

Bankman-Fried has claimed his sentence imposed in March 2024 was draconian because FTX clients got back most of their money they lost and he also continually asserted he was a victim of market downturn.

Prosecutors were unimpressed by his appeal, stating that these claims are misleading, logically flawed and speculative. Judge Kaplan said

“A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence by using his Las Vegas winnings to pay back what he stole.”

Citing Bankman-Fried's propensity for risk taking, the judge decried Bankman-Fried's lack of remorse of stealing $8 billion from FTX customers and $3 billion from the exchange's lenders and investors.

"He knew it was wrong, he knew it was criminal, but he regrets that he made a very bad bat about the likelihood that he would get caught," Kaplan said.

The judge also honed in on Bankman-Fried's disastrous performance on the stand.

"When he wasn't outright lying, he was often evasive, hairsplitting, dodging questions. I've been doing this job for 30 years. I've never seen a performance quite like that."

Surge in Pardon Requests

The possibility of SBF securing a pardon remains uncertain, but legal experts are noting an increase in pardon-related inquiries from convicted individuals and those facing sentencing.

Jeffrey Grant, head of a legal advisory firm specializing in white-collar defense, confirmed the rising trend:

“We have been hearing from people in prison, from people recently sentenced who haven’t reported to the Bureau of Prisons yet, from people who have been indicted. They are looking for somebody who knows somebody.”

With SBF’s legal battles far from over, the question remains: Will political connections and a high-profile appeal be enough to overturn his fate?