Disgraced FTX founder Sam Bankman-Fried has intensified his public support for U.S. President Donald Trump, particularly on cryptocurrency policy, while sharply criticizing former President Joe Biden. The renewed political commentary comes just days after Caroline Ellison, former CEO of Alameda Research, was released from federal custody after serving 440 days in prison for her role in the collapse of FTX.
Bankman-Fried’s recent activity on X has sparked widespread speculation that he may be positioning himself for a potential presidential pardon, especially following his February 2025 interview with the New York Sun and a March appearance alongside political commentator Tucker Carlson.
Bankman-Fried Aligns With Trump on Crypto and Foreign Policy
In a post shared on Friday, Bankman-Fried said that “@realdonaldtrump is right on crypto,” marking a notable shift given his past financial support for Democratic candidates. He contrasted Trump’s stance with what he described as regulatory failures under the Biden administration.
Beyond crypto, Bankman-Fried also praised Trump’s foreign policy decisions, calling the arrest of Venezuelan President Nicolás Maduro “smart, gutsy, and pro-democracy.” The comments suggest a broader effort to align himself with Trump’s policy positions rather than limiting his praise to digital assets alone.
Criticism of Biden, Gensler, and Pardon Speculation
At the same time, Bankman-Fried criticized Joe Biden, claiming that global leaders were frustrated with his leadership and that he “bungled crypto.” He specifically pointed to Biden’s decision to appoint Gary Gensler as chair of the U.S. Securities and Exchange Commission, arguing that the choice led to an aggressive regulatory approach toward the crypto industry.
Gensler stepped down in January 2025, ahead of Trump’s inauguration, and was replaced by Paul Atkins in April 2025. Atkins is widely viewed as more favorable to crypto innovation, reinforcing the narrative that regulatory conditions have shifted under the current administration.
Despite the public praise, the odds of a pardon remain slim. Traders on crypto prediction platform Polymarket currently assign just a 17% chance that Trump will pardon Bankman-Fried before 2027.
Bankman-Fried was extradited from the Bahamas after FTX collapsed in November 2022 and was later convicted on seven felony counts, including fraud and money laundering. He received a 25-year prison sentence in March 2024 and filed an appeal in November 2025, which is still pending before the U.S. Court of Appeals for the Second Circuit.
