Crypto fraudster ingratiates himself with Trump
The imprisoned former head of the crypto exchange FTX, Sam Bankman-Fried, is suddenly full of praise for US President Donald Trump. He is probably hoping that this will give him a chance to get out of prison early through a pardon.
Tweeting from prison
The entrepreneur, who was sentenced to 25 years in prison for fraud, expressed his approval of Trump’s military strikes against Iran in a recent post on the The message was written via an intermediary and took place as part of permitted prison communication, the US magazine reported Coindesk. The attacks were necessary to contain nuclear risks and significantly weakened the country’s military capabilities, Bankman-Fried wrote.
It is not the first time that the former crypto billionaire has spoken positively about the president. He had previously attributed, among other things, lower gasoline prices to Trump’s work. Furthermore, the US Securities and Exchange Commission (SEC) was “saved” through personnel changes. According to him, the new appointment of the authority has reduced the pressure on crypto companies and reduced conflicts between supervisory authorities.
In the USA, it is not uncommon for presidents to issue pardons for financial crimes. Trump himself has made use of this right several times in the past, including in prominent cases in the digital economy. Observers therefore suspect that Bankman-Fried’s public support could have corresponding motives. At the same time, the winding down of his former corporate empire continues. The FTX Recovery Trust announced this week that it would distribute around $2.2 billion to creditors. As part of the ongoing insolvency proceedings, many claimant groups could receive back a large part of their losses.
The consequences are still noticeable
However, the consequences of the FTX collapse of 2022 are still being felt. Millions of customers lost access to their funds and trust in the crypto market suffered a serious blow. Stock prices collapsed, companies went bankrupt, and supervisory authorities significantly tightened their controls.
The case is still considered a warning example of risks in the industry. Meanwhile, Bankman-Fried remains in custody and only communicates indirectly with the public. His lawyers requested a new trial in February, which was rejected by prosecutors. However, his most recent statements indicate that he also wants to influence his future fate outside of the courtroom.
