Former FTX CEO Sam Bankman-Fried, now serving 25 years for fraud, has flipped his political script. Once a major Democratic donor, he's now trashing Biden and SEC Chair Gensler in interviews, claiming crypto regulation is suffocating the industry. His family hired Trump-connected lawyers, desperately angling for a presidential pardon. Bankman-Fried's sudden conservative transformation isn't fooling many, especially those who lost billions in FTX's collapse. His strategy? Pretty transparent.
Locked up and desperate for freedom, disgraced crypto mogul Sam Bankman-Fried has shifted his political strategy. The former FTX CEO, now serving a 25-year sentence for fraud and conspiracy, has his sights set on a potential presidential pardon from Donald Trump. His approach? Throw the Biden administration and SEC Chair Gary Gensler under the bus.
It's quite the political pivot. Bankman-Fried was once a major Democratic donor who poured millions into Biden's 2020 campaign. Now he's singing a different tune. Funny how a fraud conviction can change your political outlook.
In recent interviews, including one with Tucker Carlson, Bankman-Fried has openly criticized Biden's policies and the SEC's regulatory approach under Gensler. He claims the current regulatory environment is suffocating crypto companies in America. The SEC is painted as the big bad wolf, making it nearly impossible for firms to get proper licensing. His podcast appearance with Carlson was clearly designed to reach a conservative media audience sympathetic to anti-regulatory messaging.
His parents are in on the scheme too. They've reportedly engaged lawyers with connections to Trump, desperately working behind the scenes to secure a pardon for their son. The whole family seems to believe that aligning with conservative figures might be their golden ticket.
The strategy is transparent as glass. By the time FTX collapsed—causing over $16 billion in direct losses—Bankman-Fried had already started hedging his political bets, making equal donations to both Democrats and Republicans. Talk about playing both sides.
His social media posts and media appearances scream "rehabilitation campaign." During his prison interview, he made surprising praise for Trump while criticizing Biden's economic management. He's trying to rebrand himself as a victim of overzealous regulation rather than the perpetrator of one of the biggest financial frauds in recent history.
The crypto community isn't buying it. They remember the billions lost when FTX imploded. They remember the customers who may never see their money again.
Will Trump fall for this transparent ploy? Who knows. Politics makes strange bedfellows, and pardons have been granted for less. But one thing's certain—Bankman-Fried's political transformation is about as genuine as his business practices were.
