Sam Bankman-Fried offered Donald Trump 5 billion dollar from FTX platform to pull out of the 2024 presidential race

Crypto, Bitcoin and all companies from the digital currency sector were once again on the front pages of almost all newspapers and magazines yesterday when the entire media suddenly focused on New York, where two very major processes are starting. One is against former President Donald Trump and the other against Sam Bankman-Fried and his former companies FTX and Alameda.

Trump turned down $5B from @SBF_FTX to withdraw from the Republican Primary. Trump can’t be bought, that is what makes him so dangerous to Democrats and the Deep State. pic.twitter.com/eJpsQgjonB

— @amuse (@amuse) October 2, 2023

This is hilarious as the two men have now also been linked by a new claim made by Michael Lewis, who has a book out on the fall of FTX. According to Lewis, SBF offered Donald Trump some 5 billion dollars to pull out of the 2024 presidential race. Unclear at this point whether it’s true.

So yet another rumor about SBF and FTX that will make it difficult for him to avoid conviction.

Conviction

Of course, Sam’s parents are both law professors at Stanford University in California, so you can expect that Sam’s defense team will probably consist of some very well-skilled lawyers. Still, almost everyone expects a conviction for the former billionaire, although the length of his prison sentence and whether any money will flow back to FTX’s former customers are of particular importance.

One of the biggest supporters for a conviction of Sam Bankman-Fried is the crypto industry itself, which actually needs a judge to make it clear to everyone who is crypto-inclined that criminals end up in prison.

“Sam should get convicted because he’s a criminal,” said Sheila Warren, CEO of the Crypto Council for Innovation, a lobbying group, to the New York Times.

“The industry supports that because a lot of people felt burned by him.”

Even though there is still no global regulation for the digital currency industry, this is indeed very important, admitted Sarah Paul, a partner at law firm Evershed Sutherland.

“This is a hugely important case. This is the biggest trial we have seen in the crypto world. If there is not justice here for the victims, I think it will be a real blow. And I think it’s dangerous. You have to get bad actors like this out of the industry.”

In essence, experts believe that a quick guilty verdict for SBF would make it easy for crypto companies and the crypto industry as a whole to move on from the whole ugly spectacle of rug-pulling, pyramid schemes and fake coins. We can’t wait for it to begin, just like we can’t wait for it to be over.