From Biden Donor to Trump Supporter: What’s SBF’s Endgame?

Sam Bankman-Fried (SBF), the disgraced founder of FTX, criticized former US President Joe Biden, praised US President Donald Trump, and hinted at his hopes for a presidential pardon, in a recent interview with The New York Sun, he

This shift marks a stark departure from his past as a major Democratic donor. But will Trump grant clemency to the crypto mogul convicted of defrauding investors of $8 billion?

Bankman-Fried Turns on Biden, Praises Trump

SBF, once a key financial backer of the Democratic Party, now expresses deep frustration with the Biden administration. In the interview, he said:

“I became really frustrated and disappointed with what I saw of the Biden administration and the Democratic Party.”

His new rhetoric aligns closely with Trump’s frequent claims of political persecution by the Department of Justice (DOJ). SBF criticized the DOJ’s approach, calling it politicized and biased.

He also voiced admiration for Elon Musk’s aggressive stance on cutting government bureaucracy, saying:

“Some things actually do need more than a 10% cut. They need a 30, 50, 70% [cut].”

A Desperate Pardon Bid?

Bankman-Fried’s 25-year sentence for fraud has led his family to seek clemency from Trump, according to reports from Bloomberg.

If successful, this wouldn’t be the first time Trump has pardoned a high-profile figure from the crypto world. In 2024, Trump granted clemency to Ross Ulbricht, the founder of Silk Road, a dark web marketplace that played a key role in Bitcoin’s rise.

SBF’s former associate, Ryan Salame, also sought Trump’s help. Before beginning his seven-and-a-half-year sentence, Salame claimed he was a victim of political persecution under Biden’s DOJ.

The Trump Connection

SBF’s legal troubles have an interesting link to Trump’s. He pointed out that Judge Lewis Kaplan, who oversaw his trial, also presided over Trump’s defamation case involving journalist E. Jean Carroll.

Moreover, Danielle Sassoon, the prosecutor in the FTX case, recently resigned after tensions with Trump’s DOJ. This resignation reportedly involved a bribery case against NYC Mayor Eric Adams, which some believe was politically motivated.

SBF suggested that politics played a role in his conviction, saying:

“When politics get involved — both in a partisan sense and in career advancement for law enforcement — it blows everything out of proportion.”

From Crypto King to Political Opportunist?

Before FTX collapsed in November 2022, Bankman-Fried was one of the largest donors to Democratic campaigns, contributing around $40 million in 2022 alone.

However, he admitted to secretly donating to Republicans using “dark money”, claiming he did so to influence crypto regulations. His rightward shift appears strategic, aligning with Trump’s grievances against the DOJ and financial regulators.

Legal experts say Bankman-Fried’s chances of receiving a pardon are slim.

Unlike Ross Ulbricht, whose pardon was a campaign promise that resonated with libertarian-leaning crypto supporters, SBF lacks strong public backing.

Judge Kaplan, in sentencing Bankman-Fried, stated:

“The punishment must fit the seriousness of the crime, and this was a serious crime.”

Kaplan also described SBF as evasive and manipulative, adding:

“I have been doing this job for close to 30 years. I have never seen a performance like that.”

Sam Bankman-Fried’s latest interview shows a calculated political shift, likely aimed at securing a pardon from Trump. While Trump has shown willingness to pardon controversial figures, SBF’s case remains a long shot. His legacy as crypto’s biggest villain may be too damaging—even for Trump—to ignore.