DOJ Shelves Campaign Finance Charges Against SBF; Coinbase CLO Calls It a Mistake
The U.S. Department of Justice (DOJ) has opted not to pursue campaign finance charges against fallen crypto billionaire Sam Bankman-Fried (SBF). Paul Grewal, Chief Legal Officer at cryptocurrency exchange Coinbase, sharply criticized the move in a X thread.
Grewal called it a “mistake” and a “miscarriage of justice,” depriving the public of important answers. This surprise decision by the DOJ came late Friday night, before the New Year’s holiday weekend.
Key Details:
- Prosecutors cited limited resources given SBF’s existing fraud charges, which carry up to 115 years in prison.
- Grewal argues there is a high public interest value in airing any potential campaign finance violations in open court.
- The timing of the Friday night news dump also raises suspicions of political interference.
Read more: No Second Trial For FTX Founder Sam Bankman-Fried, Prosecutors Say
Coinbase CLO calls decision of DOJ a miscarriage of justice
Grewal highlighted that prosecutors and supervisors have far more information on a case than any outsider ever will. He also mentioned that he was reluctant to second-guess an agency filled with good people trying to do the right thing.
“Resources and efficiency, as well as issues with the extradition, are worthy considerations in weighing a second trial against a man who should go away for a long time either way,” tweeted Grewal.
While the DOJ cited procedural justifications, Coinbase CLO highlights the serious implications of lacking full public accountability for SBF’s political donations.
Read more: IRS Sees Surge In Crypto Tax Evasion Cases After Binance Probe
Grewal emphasized that airing campaign finance charges separately serves the public interest, tweeting, “What politicians and others knew what and when are critical questions that deserve answers.”
The DOJ dropping this case late Friday before a major holiday weekend only heightens perceptions of political favoritism, according to Grewal.Ā
