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.
“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.”
“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
- SBF $1B Asset Forfeiture: Jets, Political Gifts, Robinhood Shares
- FTX Bahamas Arm to Start Repaying Creditors on February 18
- The Bankman-Fried Saga: When Political Donations Become a Family Affair
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
