Political Endorsement and Criticism
In a notable shift towards political alignment, Sam Bankman-Fried, the disgraced founder of the FTX cryptocurrency exchange, has openly endorsed former President Donald Trump while issuing pointed criticisms towards President Joe Biden. His latest remarks come shortly after the release of Caroline Ellison, the former CEO of Alameda Research, who had served 440 days in federal prison connected to the notorious collapse of FTX—a landmark case in cryptocurrency fraud.
Support for Trump’s Cryptocurrency Policies
Bankman-Fried’s encouragement of Trump’s cryptocurrency policies is reminiscent of his earlier media engagements, including a February interview with the New York Sun and a March discussion with Tucker Carlson, which many interpreted as an attempt to realign his political stance. His support for Trump’s views on crypto was vocalized through a recent post on X, where he claimed that Trump is “right on crypto,” bolstering speculation regarding Bankman-Fried’s aspirations for a presidential pardon amid his ongoing 25-year sentence stemming from fraud charges.
Critique of Biden’s Administration
In addition to his comments on digital currency, Bankman-Fried commended Trump’s foreign policy initiatives, notably lauding the arrest of Venezuelan President Nicolás Maduro as a decisive and principled move. Criticism was directed at the Biden administration, highlighting Bankman-Fried’s perception that Biden’s tenure has been marked by a failure in crypto regulatory strategies, particularly through the controversial appointment of Gary Gensler, the former chair of the U.S. Securities and Exchange Commission (SEC).
While he acknowledged that there are reasonable factions within the Democratic Party concerning cryptocurrency, Bankman-Fried suggested that Biden’s choice of leadership—with Gensler’s regulation-centric approach—exacerbated discontent among global leaders he engaged with. Gensler stepped down in January 2025 and was replaced by Paul Atkins, who is generally seen as more favorable towards the crypto sector.
Prospects for a Presidential Pardon
Despite Bankman-Fried’s newfound admiration for Trump, prospects for a presidential pardon currently remain slim, with traders on crypto prediction platform Polymarket estimating a mere 21% probability of such an outcome before 2027. Meanwhile, Bankman-Fried is actively pursuing an appeal against his conviction, which he filed in November 2025.
