SBF Says He Was Shocked By Democrats’ Crypto Stance Prior to FTX Collapse
Former FTX CEO Sam Bankman-Fried disclosed in a recent interview with Tucker Carlson that growing ties with the Republican Party may have contributed to the severity of his prison sentence. After receiving a 25-year sentence due to fraud and conspiracy charges in March 2024, Bankman-Fried reflected on his political journey, stating, “In 2020 I was center-left and I gave to Biden’s campaign… By late 2022 I was giving to Republicans privately as much as Democrats.”
During his tenure at FTX, Bankman-Fried made notable political donations exceeding $40 million to 196 members of Congress, including significant figures like former Speaker Kevin McCarthy and Senator Chuck Schumer. The political landscape of Washington, D.C., was one that he actively engaged with, making numerous trips and ultimately shifting his financial support toward Republican candidates. “That started becoming known right around FTX’s collapse, so that probably played a role,” he remarked.
As the trial unfolded, a Google Doc presented evidence of Bankman-Fried’s considerations for rehabilitating his public image post-FTX collapse, which included strategizing appearances like “Go on Tucker Carlson, come out as a Republican.” This pivot towards the GOP aligns with the party’s resurgence in political power, suggesting a possible tactical maneuver in the face of ongoing legal troubles.
Throughout the interview, Bankman-Fried criticized former SEC Chair Gary Gensler, labeling the agency’s approach as problematic for crypto businesses seeking registration. He asserted a belief that political figures across party lines carried the potential for thoughtful governance, despite his disillusionment with the Democratic administration’s trajectory.
When probed by Carlson regarding leveraging political connections during his trial, Bankman-Fried denied any wrongdoing. However, reports indicate that his parents—former professors at Stanford Law—have engaged with individuals associated with President Donald Trump’s circle, exploring avenues for a presidential pardon for their son. They have implied that a law firm was involved in influencing the case’s proceedings before bankruptcy declarations.
Additionally, amid the fallout, Bankman-Fried shared on social media insights into the challenges faced by employees of his former company, referencing actions taken by the Department of Government Efficiency (DOGE). His posts faced backlash from the crypto community, perceived as an effort to align himself more closely with the current administration.
As Bankman-Fried’s legal saga continues, his narrative raises questions about the intersections of finance, politics, and personal accountability in an evolving regulatory climate. His actions and strategies may serve as a case study in the repercussions of political affiliations and financial influence within the legislative landscape.
