SBF Praises Trump on Crypto as Pardon Speculation Builds

SBF’s public support for Trump marks a sharp break from past ties as legal pressure remains high.

Sam Bankman-Fried (SBF) has stepped up public praise of the current US administration. At the same time, the FTX founder sharply criticized Joe Biden’s government, which he previously supported vocally. 

His latest comments come just days after Caroline Ellison was released from federal custody. A series of public statements and media appearances has increased speculation that he may be seeking a possible pardon.

Bankman-Fried Shifts Political Tone While Serving Federal Sentence

Recent posts on X show the former FTX founder backing Trump’s stance on crypto policy. One post said Trump was “right on crypto,” shared shortly after Ellison’s release. 

Earlier interviews with the New York Sun and political commentator Tucker Carlson added to the shift in tone. Many observers now see a pattern aimed at winning favor with the current White House.

Former head of Alameda Research Ellison was recently released after serving about 14 months in prison. The former Alameda CEO pleaded guilty to seven charges linked to the collapse of FTX in 2022. 

Meanwhile, SBF was handed a 25-year sentence in March 2024 after a jury convicted him on seven felony counts. As per reports, the Second Circuit is reviewing another related appeal filed late last year against the former FTX boss. For now, legal options remain narrow as he serves time in federal prison.

Praise for Trump has gone beyond digital assets and the cryptosphere at large. Bankman-Fried backed Trump’s recent arrest of Venezuelan President Nicolás Maduro, calling the move “smart” and “gutsy.” 

Comments stood in contrast with earlier support for Biden, whom he once funded with millions in donations. He now claims world leaders were frustrated with Biden’s handling of crypto policy.

Crypto Regulation Debate Resurfaces as SBF Eyes Trump-Led Policy Shift

Criticism focused on Biden’s choice of Gary Gensler as SEC chair. Bankman-Fried said the administration “bungled crypto” by backing stricter oversight. Gensler stepped down in January 2025, just before Trump’s return to office. Paul Atkins later took over the role, drawing praise from many in the crypto sector.

Market watchers continue to track the odds of a possible pardon. According to prediction platform Polymarket, the chances of Trump granting SBF clemency before 2027 stand at 17%. The figure reflects skepticism despite Bankman-Fried’s recent outreach. In fact, critics still continue to highlight the scale of losses tied to FTX.

FTX’s collapse erased roughly $8 billion in customer funds and shook trust across crypto markets. Ellison and SBF were tagged as the main players in the events that led to the crash. 

While Ellison has completed her sentence, Bankman-Fried faces decades behind bars. Political messaging now adds a new chapter to a case that still shapes debate around crypto regulation in the United States.