Sam Bankman-Fried, the disgraced FTX founder now serving a 25-year sentence for defrauding billions from customers, has reignited controversy by framing his 2022 arrest as politically motivated.
In a recent GETTR post, reportedly shared via a friend, SBF claimed that his shift from center-left to centrist political views and subsequent large donations to Republican causes triggered targeted action from the Biden administration.
SBF’s New Conspiracy
According to him, the Securities and Exchange Commission (SEC) under Chair Gary Gensler and the Justice Department moved quickly to arrest him just weeks before an important crypto bill vote and on the eve of his scheduled congressional testimony.
House Republicans at the time reportedly questioned the timing and had suggested that the arrest was strategically aimed at silencing him. They also requested internal communications from Gensler that allegedly “conveniently” went missing. The SEC’s Office of Inspector General later explained that a poorly understood automated IT policy had wiped Gensler’s government-issued device, which ended up erasing text messages between October 2022 and September 2023.
Despite his conviction on multiple fraud and conspiracy counts in November 2023, SBF and his family maintain that he was wrongly prosecuted. His parents, Joseph Bankman and Barbara Fried, were reported to be exploring avenues for a presidential pardon from Donald Trump, who had previously pardoned Ross Ulbricht of Silk Road.
In interviews following his sentencing, SBF has consistently distanced himself from left-leaning politics while expressing support for Trump, even granting a prison interview with conservative commentator Tucker Carlson, which prompted his crisis manager to resign. He has openly rejected the notion of guilt for himself and co-defendants, and described the convictions as unfair and politically influenced.
Overfunded Lobby Effort Behind the Spin
Observers and critics, however, remain highly skeptical of these claims. Many view this narrative as a well-funded lobbying effort designed to recast SBF as a victim of partisan politics rather than the architect of one of the largest financial collapses in crypto history.
Far-right activist and staunch Trump supporter Laura Loomer warned that the ongoing media push will continue to paint him as unfairly targeted by the Biden administration, despite overwhelming evidence of wrongdoing.