Today in crypto, the ongoing feud between Fetch.ai and Ocean Protocol Foundation may be drawing to a close, Polymarket odds of Sam Bankman-Fried receiving a pardon this year have surged, and Binance founder Changpeng “CZ” Zhao received a pardon from US President Donald Trump, clearing the way for a possible return to the exchange.
Fetch.ai, Ocean Protocol agree on return of $120 million in FET tokens to avoid legal battle
The feud between Fetch.ai and Ocean Protocol Foundation may be drawing to a close as the two sides look to reach a middle ground without escalating into a full-blown legal battle.
On Thursday, Fetch.ai said it would cancel all pending legal claims against the Ocean Protocol Foundation if the latter returned the 286 million Fetch.ai (FET) tokens that were allegedly sold during their merger.
“They are expecting a legal proposal from us for the return of the tokens,” said Fetch.ai CEO Humayun Sheikh, during a Thursday X Spaces show, adding:
“You can have my letter tomorrow. The offer is simple: give my community back the tokens. I will drop every legal claim.”
Sheikh also offered to cover the legal costs of the pending contract, which would lead to the recovery of the tokens.
Ocean Protocol will agree to return the tokens if the offer is officially put on paper, said FET-based validator node GeoStaking, the protocol that helped broker the deal.
Polymarket bets that Sam Bankman-Fried gets pardon surge to 12%
Polymarket bettors have now tipped a 12% chance that former FTX CEO Sam Bankman-Fried will be pardoned this year, after Binance CEO Changpeng “CZ” Zhao was let off the hook this week.
Polymarket odds for “Who will Trump pardon in 2025” saw SBF’s odds rise from 5.6% to 12% in 12 hours, with more than $6.5 million worth of bets placed in that market, including $302,090 for the convicted crypto fraudster.
Another market on whether SBF will be “Released from custody in 2025” rose from 4.3% to 19.1% before falling back to 15.5%.
While SBF has filed an appeal to reduce his 25-year sentence, it is unlikely that there would be any significant developments before the end of the year, meaning a pardon from Trump is likely his only realistic path to release before January.
Binance confirms CZ received presidential pardon from Trump
US President Donald Trump has pardoned convicted Binance founder Changpeng “CZ” Zhao, following months of lobbying and appeals from the company and its former CEO, The Wall Street Journal reported Thursday, citing people familiar with the matter.
President Trump signed the pardon on Wednesday, the people said, though no official details have been published on the White House website or in the Federal Register, where presidential pardons are typically announced. The information was later confirmed by Binance.
Zhao pleaded guilty in November 2023 to one count of failing to implement an adequate Anti-Money Laundering (AML) program at Binance, violating the Bank Secrecy Act. As part of his plea, Zhao agreed to step down from his role at Binance.
In April 2024, Zhao was sentenced to four months in a US prison. He was subsequently released from custody in September.
Binance confirmed the presidential pardon to Cointelegraph, sharing the following statement:
“Incredible news of CZ’s pardon today. We thank President Trump for his leadership and for his commitment to make the US the crypto capital of the world. CZ’s vision not only made Binance the world’s largest crypto exchange but shaped the broader crypto movement.”
