- Sam Bankman-Fried, serving 25 years, voiced frustration with the Biden administration and aligned with Republican policies.
- His family is pursuing a presidential pardon, while he maintains his innocence despite guilty verdicts for fraud and fund misappropriation.
- He criticized the DOJ and Judge Lewis Kaplan, aligning with Trump’s claims of political influence in federal investigations.
Sam Bankman-Fried, the former CEO of the collapsed cryptocurrency exchange FTX, has shifted his political stance while serving a 25-year prison sentence. In a series of interviews with the New York Sun, he expressed disappointment in the Biden administration and signaled alignment with Republican policies. His comments come as his family continues efforts to secure a presidential pardon.
Bankman-Fried Criticizes Biden Administration
During a phone call from a Brooklyn prison, Bankman-Fried voiced frustration with how the Democratic Party handled economic and regulatory policies. Once a major Democratic donor, he now aligns with figures promoting government downsizing. He praised Elon Musk’s approach to reducing bureaucracy, stating that certain government agencies require budget cuts of up to 70%.
Bankman-Fried changed his plans after he received his October 2023 fraud and misappropriation conviction for stealing $8 billion from customers. FTX lost its $32 billion worth in November 2022, and all executives faced criminal charges.
His family has pursued a presidential pardon, according to a Bloomberg report from January. Bankman-Fried maintains his innocence despite the guilty verdicts against him and several co-conspirators. He stated, “I don’t think anyone was guilty,” when discussing his case and those of other FTX executives.
His comments mirror previous efforts by Ryan Salame, former co-CEO of FTX’s Bahamas subsidiary, who also sought clemency. Salame, a Republican supporter, argued that the Department of Justice (DOJ) politically targeted him. He was sentenced to seven and a half years in prison in October.
Criticism of the DOJ and Federal Judiciary
Bankman-Fried echoed concerns regarding the DOJ’s role in recent prosecutions. He claimed that political influences shaped federal investigations, aligning with narratives promoted by former President Donald Trump. He also pointed to Judge Lewis Kaplan, who oversaw his case, noting that Kaplan presided over a civil lawsuit in which a jury found Trump liable for defamation and sexual abuse.
Previous to this Trump had already issued a pardon to Ross Ulbricht for founding the illegal dark web marketplace Silk Road which operated through Bitcoin transactions. The receipt of a pardon by Bankman-Fried would become part of a rising number of crypto industry figures who seek legal relief from their punishments.
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