Sam Bankman-Fried Aligns with Trump on Crypto Policy Amid Pardon Rumors

SBF's Unexpected Support for Trump Amid Legal Challenges

Sam Bankman-Fried, the former CEO of FTX, has recently expressed public support for Donald Trump's administration, marking a significant shift from his previous backing of Joe Biden. This move comes as Bankman-Fried faces mounting legal pressures following his 25-year sentence for financial crimes related to the collapse of FTX.

Political Strategy Amidst Legal Battles

Bankman-Fried's comments, particularly his endorsement of Trump's crypto policies, have fueled speculation about his intentions, including a possible pardon. His shift in allegiance follows Caroline Ellison's release after serving a 14-month sentence for her role in the FTX scandal.

Recent interviews with media outlets like the New York Sun and appearances with political commentators have highlighted this strategic pivot. Observers suggest this could be an effort to gain favor with the current administration.

Crypto Regulation and Leadership Changes

Bankman-Fried has criticized the Biden administration's handling of crypto regulations, particularly the appointment of Gary Gensler as SEC chair. Gensler's resignation in January 2025, followed by Paul Atkins taking over, was met with approval from many in the crypto industry.

The speculation over a potential pardon by Trump is gaining traction, although prediction markets like Polymarket estimate the likelihood at only 17%. This skepticism persists despite Bankman-Fried's recent outreach efforts.

FTX's downfall, which resulted in an $8 billion loss in customer funds, continues to affect the crypto sector. While Ellison has completed her sentence, Bankman-Fried's legal challenges and political maneuvers remain under scrutiny.