FTX Blockchain in Turmoil: SBF Pardon Controversy & FTT Struggles Near $1.12 Support!

Any possible pardon for Sam Bankman-Fried (SBF), the disgraced former FTX blockchain CEO, brings strong opposition from Senator John Kennedy. At a Senate Banking Committee hearing on March 27, 2025, Kennedy enquired of SEC chairman-designate Paul Atkins about claims that SBF’s parents were pushing for a presidential pardon. Kennedy stressed that legal responsibility should apply equally to all; she therefore condemned the SEC for its appearance of inactivity on financial offenses. The FTX blockchain’s failure raises questions about justice.

SBF Pardon Debate and SEC Scrutiny

Senator John Kennedy specifically questioned Paul Atkins during the Senate Banking Committee hearing about stories that Joseph Bankman and Barbara Fried—SBF’s parents—were seeking a pardon for their kid. Kennedy strongly objected to any such action, saying, “There should not be two standards of law and punishment for people in America.” Furthermore, he censured the SEC for not aggressively addressing financial fraud. January reports indicated SBF’s parents were seeking a pardon from former President Donald Trump. 

Which parallels clemency for non-violent crimes by Ross Ulbricht. Legal analysts, nevertheless, contend that SBF’s situation is different since the FTX blockchain collapse resulted in significant investor losses. Meanwhile, SBF has tried to associate himself with Republican leaders via media appearances, but unsanctioned interviews have resulted in disciplinary actions, including solitary confinement. The argument on ethical crime accountability and regulatory oversight rages on, thanks in part to the controversy. Let’s take a look at the FTT price prediction to determine how this impacts the price of the FTX token, FTT.

FTT Price Prediction of March 28, 2025

Struggling to rise above resistance at $1.22, FTX Token (FTT) is trading at $1.1326 and holding support at $1.12. The price has been straying inside a downward channel, reflecting both selling pressure and recovery attempts. Failing to keep support might send the price down to $1.10 or less; a triumphant breakout over $1.22 could cause a move toward $1.25 and maybe $1.30. At 40.59, the Relative Strength Index (RSI) shows weak momentum but is still higher than oversold. 

Chart 1: Analysed by vallijat007, published on TradingView, March 28, 2025

With the blue MACD line falling below the signal line, the MACD indicator points in a bearish direction. Recent price action is evidence of rising instability; buyers are defending support levels but lack sufficient strength to achieve a major breakout. A bullish turnaround might be feasible if FTT settles above $1.14. However, continued weakness in momentum may lead to further downside movement. Traders are closely watching whether FTT can reverse its trend or extend losses further.

FTX Blockchain’s Future Outlook and Key Considerations

Legal questions about Sam Bankman-Fried (SBF) continue to linger, and as a result of their influence, FTX Token’s (FTT) value might be under pressure. Resistance at $1.22 is keeping upside potential restricted, and market sentiment is wary. Further drops below $1.12 could follow FTT toward $1.10 or lower. A bounce above $1.14 could, though, point toward a reversal in trends. FTX blockchain path will be critically determined by regulatory examination, possible political developments, and general market circumstances. Investors should stay alert since even small changes in government regulations or laws could greatly affect price movement.