Sam Bankman-Fried, the founder of FTX convicted of defrauding investors of $8 billion, expressed frustration with Biden's administration and praised Donald Trump, hinting at hopes for a presidential pardon in a recent interview.
Bankman-Fried Turns on Biden, Praises Trump
Bankman-Fried, once a major donor to the Democratic Party, now expresses deep frustration with the Biden administration. In the interview, he said: "I became really frustrated and disappointed with what I saw of the Biden administration and the Democratic Party." His rhetoric now aligns with Trump’s frequent claims of political persecution by the Department of Justice (DOJ). Bankman-Fried also voiced admiration for Elon Musk’s stance on cutting bureaucracy, saying: "Some things actually do need more than a 10% cut. They need a 30, 50, 70% cut."
A Desperate Pardon Bid?
Sentenced to 25 years for fraud, Bankman-Fried's family reportedly seeks clemency from Trump. If successful, this wouldn’t be the first time Trump pardons a crypto figure, as in 2024 he did for Ross Ulbricht, founder of Silk Road. Bankman-Fried’s associate, Ryan Salame, sought Trump’s help, claiming political persecution.
From Crypto King to Political Opportunist?
Before FTX collapsed in 2022, Bankman-Fried was a major donor to Democratic campaigns but admitted to secretly donating to Republicans. Legal experts say his chances for a pardon are slim. Judge Kaplan, sentencing Bankman-Fried, stated: "The punishment must fit the seriousness of the crime, and this was a serious crime." Judge Kaplan also described Bankman-Fried as evasive and manipulative, adding: "I have been doing this job for close to 30 years. I have never seen a performance like that."
Sam Bankman-Fried’s interview highlights a calculated political shift aimed at securing a pardon from Trump. Although Trump has shown willingness to pardon controversial figures, Bankman-Fried’s case remains unlikely due to his damaging legacy in the crypto world.
