Sam Bankman-Fried Speaks Out Behind Bars

Despite serving a 25-year prison sentence, SBF is still trying to turn things around, but will his intentions work or is it just a desperate move?

Sam Bankman-Fried (SBF), founder of the FTX exchange, once again caused a stir in public opinion with a surprise interview with Tucker Carlson from behind bars.

In a conversation lasting more than an hour, SBF defended himself, criticized the US legal system, and expressed disappointment with the Joe Biden administration.

This is the second time SBF has spoken out since being sentenced to 25 years in prison, but the first time he has appeared on camera from prison. The interview also prompted Mark Botnick - a crisis management expert for SBF - to decide to resign.

“I Don’t Think I’m a Criminal”

In his conversation with Carlson, SBF insisted that he was not a criminal, that he had no intention of defrauding, and that FTX’s collapse was an unfortunate accident, not a deliberate plot. He stated emphatically:

SBF did not hesitate to criticize the way FTX handled its assets after bankruptcy, asserting that the exchange was fully capable of recovering on its own without intervention. He argued that instead of letting FTX recover, the bankruptcy administrators “dissipated tens of billions of dollars in assets” and turned the incident into a “huge disaster”.

When asked about the state of crime in the crypto industry, SBF compared the current market to the period 10 years ago, showing that the crime rate has decreased significantly compared to the period when Bitcoin was associated with black market platforms like Silk Road.

Political Pivot and Efforts to Seek Clemency

One of the highlights of the interview was Sam's political pivot. Previously, he was known as a billionaire pursuing "effective altruism" and a leading donor to the Democratic Party, having contributed tens of millions of dollars to President Joe Biden's election campaign.

However, SBF revealed that at the time of FTX's collapse, he had a better relationship with the Republican Party than the opposition. SBF said that in 2020, he still believed in a strong center-left administration and donated to Biden's campaign. However, what he received in return was disappointment with the direction of this administration.

He did not hide his disappointment with the Biden administration, especially the way SEC Chairman Gary Gensler regulated the crypto industry. SBF accused Gensler of having great political ambitions and wanting to use the crypto industry to enhance his personal reputation to have the opportunity to become Treasury Secretary. According to SBF:

"Power. Who doesn't like it? He's no exception. There are a lot of stories about him having big political ambitions and wanting to appear on TV as much as possible, to be appointed Secretary of the Treasury."

These statements led the public to believe that SBF was trying to seek a pardon from President Donald Trump. This intention became clearer when he mentioned the pardon of Ross Ulbricht, the founder of Silk Road, who was pardoned by Trump during his first term.

In late February, Sam argued that his case was part of "prosecutorial abuse" under the Biden administration, citing a common enemy to ask Trump for a pardon.

When Carlson mentioned the possibility of a pardon, SBF did not deny it, saying that if nothing changes, he will be out of prison around the age of 50. This response does not directly confirm his intentions, but also does not deny that he was trying to attract the attention of the Republican Party.

The aftermath and departure of the media adviser

The surprise interview not only caused controversy but also led to the departure of Mark Botnick, a crisis management expert who had worked with SBF since the collapse of FTX. Citing sources from Business Insider, Botnick said he was unaware of the interview before it appeared online.

This is not the first time SBF has taken unannounced actions. He posted on X on the morning of February 25 about the Trump administration's desire to fire federal employees, causing difficulties for his communications team.

SBF also got himself into trouble when he provided his ex-girlfriend's diary to a journalist, resulting in him being detained to prevent the possibility of witness tampering.

What is the future for Sam Bankman-Fried?

After all, Sam Bankman-Fried remains one of the most notorious figures in the crypto industry. Bankman-Fried is serving a 25-year prison sentence for seven counts of fraud and money laundering related to the $11 billion collapse of FTX.

While he is in the Brooklyn Detention Center, he has not missed the opportunity to make explosive statements targeting the Biden administration and the financial system, while also flattering the Trump empire.

However, even if the administration does change, changing who controls the US financial system is nearly impossible, according to SBF itself.

Whether or not SBF achieves its goal, one thing is certain: this will not be the last time the world hears the name Sam Bankman-Fried.