#StablecoinLaw The price of the digital currency FTT rises by 43% after rumors of a presidential pardon for the founder of the FTX platform

The price of the digital currency FTT, the official digital currency of the FTX platform, rose by 43% to reach $1.3 yesterday, Saturday, driven by false reports claiming that U.S. President Donald Trump granted a pardon to Sam Bankman-Fried, the former founder of the platform.

The U.S. Department of Justice has not issued any official confirmation regarding the pardon, which suggests that the increase resulted from a baseless rumor.

Bankman-Fried was sentenced to 25 years in prison after being convicted in a fraud case related to the collapse of the FTX platform.

Despite ongoing efforts by Bankman-Fried and his family and lawyers to obtain a presidential pardon, analysts believe his chances are slim, especially considering his political background and past relationships with the Democratic Party, which could pose a barrier to Trump's sympathy.

It is worth noting that prominent figures in the cryptocurrency field have previously received presidential pardons, including the founders of the BitMEX platform, as well as Ross Ulbricht, the creator of Silk Road.

Binance founder Changpeng Zhao also stated that his team has submitted a pardon request to President Trump.