The Sam Bankman pardon request has been the talking point after the formal filing. Meanwhile, the Humanity crypto project reels from its $32M private-key hack that wiped 80-90% off H in hours. Bitcoin stands strong above $63K as the Fear & Greed Index is locked in extreme fear.
Sam Bankman pardon application puts the man back in the headlines two years into his 25-year sentence for FTX fraud. Just last year, Trump granted clemency to crypto figures, including BitMEX co-founder Arthur Hayes, in March. Hayes later faced pump-and-dump accusations on leveraged products after he rebuilt influence through education and trading commentary.
WATCH: SAM BANKMAN-FRIED SPEAK FROM PRISON ON SEEKING A PRESIDENTIAL PARDON
"It's one of the very few cases where the platform was overcollateralized and customers were made more than whole"
"Yet there was not just an investigation but a prosecution and dozens of years of… pic.twitter.com/PxcR5zfRrx— Coin Bureau (@coinbureau) June 8, 2026
However, Sam Bankman pardon would reward negligence that cost users billions. Some say it ends selective “war on crypto” prosecutions and shows a regulatory reset. Besides Hayes, Trump has also pardoned CZ Binance and other industry players in a pro-innovation policy move. But then again, the CZ verdict was arguably baseless.
SBF’s team cites prison time served and cooperation offers. But the crypto community splits between redemption calls and rug-pull flashbacks.
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Forget Sam Bankman Pardon, Today, The Humanity Crypto Exploit Rocks Market
The Humanity crypto exploit drained over $32M from 17 foundation wallets via one compromised private key. Attackers minted extra tokens and dumped H for ETH and BNB, crashing the price from $0.70 to under $0.10. Team paused the bridge and liquidity pools, insisting only one member’s keys were hit.
ZachXBT called the Humanity crypto story suspicious, pointing to pre-hack pump, concentrated supply, and market-maker ties. He labeled it likely an inside exit rather than a random hack, offering a bounty for proof. As of now, there is no data to back his claim, just yet.
Humanity incident caps a brutal 2026 crypto hack season that already saw Drift Protocol lose $285M, Kelp DAO $293M, and multiple bridges drained for hundreds of millions total. North Korea-linked actors and key compromises dominate the list.
This Humanity crypto fallout fuels institutional distrust and explains record ETF outflows topping $4B in recent weeks. BlackRock’s IBIT and Grayscale GBTC led redemptions amid post-exploit FUD.
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Bitcoin Rocking Above $63K Amid Extreme Fear: What’s Next for Crypto?
Saylor blamed AI capital rotation for the recent Bitcoin dip; ARCA called it “nonsense” and “gaslighting,” pinning pressure on Strategy’s small BTC sales to cover dividends. Bitcoin bounced above $63K while Strategy added another 1,550 BTC. Spot volumes hit 2023 lows, yet big alts show resilience with BNB and SOL edging higher.
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It’s no secret that low liquidity leads to price swings, but Bitcoin dominance below 60% suggests an altcoin comeback. Despite hack noise and outflows, on-chain accumulation by whales and treasuries shows conviction. Fear & Greed at extremes, sentiment at rock bottom, usually mark capitulation before bounces.
ETF outflows likely peak as fear bottoms, clearing weak hands for fresh entries. With regulatory clarity improving and major treasuries still buying, the path higher remains intact for patient holders.
Crypto cycles repeat, trust erodes on exploits, then rebuilds on scarcity and adoption. That’s why we call it a cycle, right?
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The post Crypto News, June 9: Bitcoin Price Steady, Sam Bankman-Fried Formally Applies for a Trump Crypto Pardon as Humanity Exploited appeared first on Cryptonews.
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