Michaela
Incarcerated former CEO of the defunct cryptocurrency exchange FTX, Sam Bankman-Fried, has detailed his political donations and expressed optimism about securing a presidential pardon from Donald Trump.
In an interview with The New York Sun, Bankman-Fried stated that he donated funds to the Democratic Party during the 2020 election to prevent the party from shifting toward the influence of Senator Bernie Sanders, a Democrat known for his socialist ideology.
Before FTX collapsed, he reportedly contributed nearly $40 million to political candidates and PACs in 2022, aiming to shape U.S. government policies on cryptocurrency.
Moreover, while he was a free man, he donated millions to oppose Trump in the 2020 election, prompting skepticism over his chances of receiving a presidential pardon.
In the interview, the former FTX CEO detailed his gradual shift toward conservative politics over recent years.
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“I viewed myself at the time as sort of center-left, and that’s not how I view myself anymore,” he stated. “I became really frustrated and disappointed with what I saw of the Biden administration and the Democratic Party. Particularly on crypto policy, the Biden administration was just incredibly destructive and difficult to work with. I think my case fits into that broader context.”
Since FTX’s collapse, Bankman-Fried has persistently pursued his release. His efforts intensified after President Trump’s recent pardon of Silk Road founder Ross Ulbricht. According to Bloomberg, Bankman-Fried’s parents are also exploring the possibility of securing a presidential pardon for their son.
Sam Bankman-Fried was handed a 25-year prison sentence in March 2024, for his involvement in the collapse of FTX. The “punishment must fit the seriousness of the crime, and this was a serious crime,” Judge Lewis A. Kaplan said upon delivering the sentence. Kaplan further noted that SBF’s performance during the trial was “evasive” and “hair-splitting.”
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“I have been doing this job for close to 30 years. I have never seen a performance like that,” Kaplan continued.
It remains uncertain whether this narrative will sway President Trump. Bankman-Fried has acknowledged donating to Republican causes, yet he also contributed millions to support Trump’s opponent. As a result, despite his insistence on his innocence, the chances of a pardon appear minimal.
Read More
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- FTX Bahamas Arm to Start Repaying Creditors on February 18
- The Bankman-Fried Saga: When Political Donations Become a Family Affair
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
