Disgraced FTX founder Sam Bankman-Fried has stepped up public praise for US President Donald Trump while criticising former president Joe Biden following the release of Caroline Ellison from federal custody.
The comments surfaced in a series of posts on X made days after Ellison, the former chief executive of Alameda Research, completed a 440-day prison sentence tied to the 2022 collapse of FTX.
Bankman-Fried said Trump was “right on crypto,” while accusing Biden of having “bungled crypto” during his time in office.
Observers say the renewed political commentary has fuelled speculation that Bankman-Fried is positioning himself for a possible presidential pardon.
The former exchange chief has increased his media appearances since early 2025, including an interview with the New York Sun and a public discussion with political commentator Tucker Carlson.
“@realdonaldtrump is right on crypto,”
Sam Bankman-Fried said.
Bankman-Fried also extended praise beyond digital assets, endorsing Trump’s handling of foreign policy matters.
He described the arrest of Venezuelan President Nicolás Maduro as “smart, gutsy, and pro-democracy,” framing it as decisive leadership.
At the same time, Bankman-Fried criticised the Biden administration, despite previously donating millions of dollars to Democratic causes.
“All the world leaders I met were fed up with Biden,”
Sam Bankman-Fried added, adding that the former president “bungled crypto.”
He singled out the appointment of Gary Gensler as chair of the Securities and Exchange Commission as a key policy failure.
Gensler pursued a strict enforcement-led approach to crypto regulation before stepping down in January 2025 ahead of Trump’s inauguration.
Paul Atkins, sworn in as SEC chair in April 2025 under Trump, is widely regarded by the crypto industry as more supportive of digital assets.
Bankman-Fried was extradited from the Bahamas after the FTX collapse and later convicted on seven felony counts, including fraud and money laundering.
A US judge sentenced him to 25 years in prison in March 2024 following the jury verdict delivered in November 2023.
In November 2025, Bankman-Fried filed an appeal against both his conviction and sentence, which is now under review by the US Court of Appeals for the Second Circuit.
Market speculation around a potential pardon remains limited, according to data from crypto prediction platform Polymarket.
Traders currently assign a 17% probability that Trump will pardon Bankman-Fried before 2027.