US President Donald Trump recently gave a clear response in an interview—he will not use the presidential pardon power for the main figure in the FTX collapse case, former CEO Sam Bankman-Fried(SBF).

This answer dashed many people's expectations. When asked whether he considered pardoning SBF, Trump was frank and also listed several other individuals he would not pardon, including music producer Shawn Combs and former Senator Robert Menendez.

What does this mean? SBF will either continue serving his sentence or seek a sentence reduction through judicial appeals, but the path of presidential pardon is completely closed. For the crypto market, this also removes an uncertainty—investors no longer need to speculate whether FTX founder will be released due to political negotiations.

From the FTX collapse to SBF's conviction, this case has been a warning to the crypto industry. Now, the judicial process will continue independently, with the court system ultimately deciding his fate.