White House Discusses Proposal for 250th Anniversary Pardon of 250 People: Focus on Crypto Figures like SBF
On July 4, during the 250th anniversary of American independence, the White House is discussing a proposal for a "250th Anniversary Presidential Pardon for 250 People." There are differing opinions among the advisory team regarding political interests, and it is uncertain whether the final signing will occur, but it has already sparked intensive lobbying from lawyers and intermediaries.
The Atlantic reports that Jho Low, a key figure in the 1MDB case, has been included on the list. The U.S. Department of Justice previously charged him with money laundering and bribery. Rapper Pras Michel, who was convicted for lobbying related to 1MDB, is also under consideration. The most notable figure in the crypto space is SBF, the founder of FTX, who is currently serving a 25-year prison sentence after being convicted in 2024. His team continues to lobby and submit applications.
White House officials responded that Trump is the final decision-maker, and all requests must undergo strict review by the Department of Justice and legal advisors.
From a market mechanism perspective, the expectation of pardons drives lobbying capital and legal resources toward the White House. The event-driven anniversary amplifies the opportunity for pardons, benefiting high-impact individuals who actively lobby, while the strict review process puts pressure on low-probability applicants.
Source: Public Information
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Trump has previously exercised his pardon power multiple times, including handling political allies and controversial figures, having pardoned several financial and politically connected individuals during his first term. This proposal for 250 people continues his narrative-shaping use of constitutional power.
In terms of capital pathways, SBF's team is mobilizing resources through intermediaries and media interviews, motivated by the political atmosphere of the anniversary to seek a turnaround. Specific actions include multiple rounds of contact and formal applications since 2025, forming a flow of capital and influence from prison lobbying to policy decision-makers.
Similar to large-scale pardons during presidential terms or celebrations in history, the White House is weighing the balance between routine justice and politically symbolic pardons, coinciding with the cleanup cycle of the FTX case's residual impact on the crypto industry.
Essentially, this represents a regulatory change: the power of pardons as an administrative tool reshapes some consequences of financial crimes, with the mechanism being that the anniversary political window lowers decision-making costs, shifting power from judicial convictions to presidential discretion, potentially accelerating the structural resolution of some historical burdens in the crypto industry.
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Political celebrations are levers for pardons, with timing being more decisive than the crimes themselves.
The more concentrated the lobbying capital, the more concentrated the pricing power of the final decision-maker.
Judicial rulings are not the endpoint; administrative power always rewrites the rules at historical junctures.