- Trump may issue 250 pardons during America’s 250th anniversary celebrations.
- Crypto circles speculate over possible clemency for Sam Bankman-Fried.
- Critics warn mass pardons could affect Republican midterm election prospects.
President Donald Trump is weighing plans to issue about 250 presidential pardons as part of celebrations marking the 250th anniversary of American independence.
Sources familiar with the discussions said the pardons could be announced on June 14, which is Trump’s birthday, or on July 4 during Independence Day celebrations. White House officials later clarified that no final decision has been made and that clemency actions remain under the president’s authority.
The WSJ reported that discussions around the proposed pardons remain in their early stages.
Following the rumors, some officials within Trump’s administration reportedly raised concerns that issuing a large number of pardons could affect Republicans ahead of the midterm elections.
Crypto Industry Watches Closely
The crypto industry is also in focus because Trump has already pardoned some high-profile crypto figures during his second term. Those include Binance founder Changpeng Zhao, known as CZ, and Silk Road founder Ross Ulbricht. Trump also pardoned co-founders linked to crypto exchange BitMEX.
The possibility of additional pardons is promoting speculation surrounding former FTX CEO Sam Bankman-Fried, who is serving a prison sentence after his fraud conviction tied to the collapse of the crypto exchange.
Samourai Wallet developer Keonne Rodriguez has also become part of discussions within crypto circles.
Meanwhile, Trump has publicly stated that he does not currently intend to pardon Bankman-Fried. However, he has not fully ruled out future clemency requests involving high-profile individuals.
Criticism Over Expanding Clemency Powers
Notably, Trump already faced criticism over the scale of pardons issued since returning to office. On his first day back in office, he pardoned more than 1,500 individuals connected to the Jan. 6 Capitol riot.
Many of Trump’s recent pardons involved white-collar crimes and public corruption cases. Reports also said the president pardoned at least 11 former members of Congress and nearly 80 people linked to efforts to challenge the 2020 election results.
In response, former Department of Justice Pardon Attorney Liz Oyer criticized the administration’s use of clemency powers. She told PBS that broad use of presidential pardons could weaken accountability for fraud and corruption cases.
Pardon Requests Continue to Rise
The growing number of pardons has also led to a rise in clemency requests. According to Department of Justice data, more than 16,000 formal pardon requests were submitted last year.
Among the high-profile applicants were Bankman-Fried and Ghislaine Maxwell, the former associate of Jeffrey Epstein.
Notably, Trump recently told reporters that many people had requested pardons from him, though he did not commit to granting any specific request.
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