After Donald Trump’s convincing election win, a few crypto personalities and lobbyists have started to cozy up to the administration, with some snapping up key positions. But a few more crypto personalities are waiting for their turn — including Sam Bankman-Fried — the former CEO of FTX.
In an interview with the New York Sun, Bankman-Fried shared his thoughts from prison and expressed his shifting sympathies to the Republican party and US President Donald Trump. He said his conviction was due to then-President Joe Biden’s aggressive crypto policies and overreach.
In the same interview, he hoped the incumbent president would pardon him. However, Bankman-Fried faces long odds since he campaigned against Trump as a free man, donating millions to the other party in 2020. Analysts say that his appeal would be a difficult one.
Bankman-Fried Airs His Frustration
In the Sun interview, Bankman-Fried once again claimed that he was innocent and that Biden’s crypto policies sent him to prison. He mentioned that during his trial, prosecutors pushed a lot of misinformation, including misleading accusations that he owned luxury apartment complexes. The former CEO also firmly denied that Alameda Research and FTX were insolvent and bankrupt.
Bankman-Fried admitted that he was frustrated and disappointed with then-President Biden’s administration. He also acknowledged his past ties with the Biden administration and soon became dissatisfied with its crypto policies. He added that Trump can correct Biden’s and the Securities and Exchange Commission’s overreach.
A New Strategy For Bankman-Fried?
Bankman-Fried’s series of interviews from prison signals a changing strategy, focusing on gaining favor from Trump. In the same interview, he mentioned that the case is being heard by Judge Kaplan, one of Trump’s judges.
The former crypto CEO also shared his support for Elon Musk and his DOGE team, which aims to trim government spending. Bankman-Fried acknowledged Musk’s “chainsaw approach” to managing the bureaucracy. He offered some insights, saying that a portion of the US bureaucracy can be reduced by 10% and others by 50% or more.
What Lies Ahead For SBF?
Before his conviction, SBF was one of the most prominent crypto personalities in the industry. He was also active in American politics and a Democratic donor to Biden’s 2020 presidential campaign. However, Bankman-Fried’s political capital disappeared when the SEC started to implement its aggressive crypto policies.
Now that Trump is the president, Bankman-Fried sees an opportunity. Recently, Trump pardoned Ross Ulbricht, the founder of Silk Road, who served nearly a decade in prison. Bankman-Fried’s parents noted how Ulbricht’s parents asked Trump to forgive their son, and they’re now using the same tactic.
Featured image from WIRED, chart from TradingView
