Elon Musk suspects Joe Biden may release FTX's Sam Bankman Fried from prison before his term as president ends.
On Twitter the famous multi-billionaire entrepreneur explicitly said that this would not surprise him, given the financial link between the two.
Let's see all the details below.
Elon Musk wouldn't be surprised if Biden offered pardon to FTX's SBF
Elon Musk, commenting on a post onWall Street Mav” he said he wouldn't be surprised if Biden decided to offer thanks to Sam Bankman Fried, founder of FTX.
The head of Tesla, waiting to join Donald Trump in the next presidency, thus launches a veiled dig at his Democratic rival.
By the end of his term, Biden will have carte blanche to decide on the alleged release of SBFsentenced to 25 years for defrauding investors.
The latter was found to be the main person responsible for the collapse of FTX, which triggered a serious liquidity hole of as much as 8 billion dollars.
At the same time SBF was one of the largest donors to Joe Biden's election campaign, having donated $5.2 million.
He is considered one of the Democrats' biggest political donors ever, with total contributions of $70 million in less than 18 months.
Given the political link between the two figures, Musk is betting on a possible pardon from the current President in office, who will definitively abandon the White House on January 20th. the multi-billionaire entrepreneur, appointed as the next head of government efficiency (DOGE), uses strong words as usual for his public interventions.
Clearly there are no guarantees that Biden will express his opinion on the FTX issue, given and also considering the media impact of the story.
The release of SBF would also bring a new climate of mistrust for the Democrats by the crypto community, who consider the 32-year-old entrepreneur a real cybercriminal.
Poly Market situation: the odds for the pardon of the FTX boss increase
In conjunction with Elon Musk's statement, on the prediction market Polymarket the chances of the FTX boss being released have increased significantly.
Initially the odds of a pardon by Biden remained unchanged at 5%, suggesting that Musk's comment had not triggered any speculative movement.
A few hours later, however, the Polymarket chart showed a probability raised to 16%, in the wake of the trading of some traders.
At the time of writing, the odds have even gone up to 20%with a total trading volume of $1.1 million.
However, given the illiquid and easily manipulated market, it seems difficult to think that the former FTX could really be freed, given the devastating impact of his crimes on the financial stability of the USA.
However, Biden's possible pardon of Fauci, Jim Biden, Liz Cheney and Adam Schiff is much more likely, according to updated Polymarket prices.
At the same time, Polymarket it also offers a market for betting on Donald Trump's potential pardon 100 days into his term.
Musk's comment also led to a slight increase in the probability that the Republican will decide to offer pardon to SBF, going from 2% to 5%.
Much more feasible, however, is the release of Ross Ulbricht, founder of the Silk Road black market, who has been serving a life sentence since 2017.
The chances of his pardon are currently at 67%, rising sharply after Trump's promise to his voters in the crypto community.
Elon Musk never trusted Sam Bankman Fried
Elon Musk's comment on Joe Biden's alleged pardon for the founder of FTX must be contextualized with the political clash between Republicans and Democrats.
Donald Trump's right wing can only express negative opinions about his rival Biden and the person who illegally financed his election campaign.
Added to all this is a precedent tra Elon Musk e Sam Bankman Friedwhich dates back to just months before Twitter's $44 billion acquisition
On that occasion, the former CEO of FTX had intercepted Musk by offering himself as a potential investor in the deal with Jack Dorsey and the other shareholders.
In particular, he had offered as much as 3 billion dollars, soliciting the attention of the current social media patron who, however, chose another path.
The former FTX boss had asked for blockchain integration on Twitter in exchange for the money, but was formally rejected.
Musk smelled something bad and was skeptical that SBF had $3 billion in cash to invest in a business unrelated to its core cryptocurrency business.
CZ from Binance was chosen in his place, with a much smaller offer of $500 million, which however had far fewer problems with the law.
If he had accepted SBF's proposal, Musk would now have had to return the entire amount imported to the company's creditors and to the trustee of FTX entrusted after the bankruptcy declaration.
