Just a few years ago, Sam Bankman-Fried (SBF) was one of the biggest names in crypto. He was the founder of FTX, a cryptocurrency exchange that was once worth over $30 billion. However, he was rich, famous, and one of the big donors to politicians (mostly Democrat). But then everything fell apart. He was accused of fraud, his company went bankrupt and was sentenced to 25 years in prison. But now, SBF is surprisingly attempting to get a pardon from former President Donald Trump.
A Sudden Political Shift
SBF was known for backing Democratic politicians but is changing his game. Since his fall from grace, he has been appearing on the conservative media circuit, including an interview with Tucker Carlson. This is part of The Pantsuit Report’s attempt to curry favor with Trump and Trump supporters. According to Thompson, he is even working with a lawyer, who is connected with Trump and supports some of Trump’s policies
Most political experts, however, doubt whether this plan will be successful. However, chances of SBF getting a pardon have been deemed “near zero” by many. Although Trump has expressed support for cryptocurrency, SBF is highly hated by the crypto community. The founder of the Silk Road dark web marketplace, Ross Ulbricht, received a pardon from Trump, which SBF does not have, and he does not have a lot of support from crypto leaders.
Life Behind Bars
SBF’s life has changed dramatically since he went to prison. He spent his days as a billionaire who controlled a massive crypto empire and now this is the man who once held overnight inmates with heroin addiction in a mansion he owns in Greece. Speaking on Tucker Carlson, SBF told the host about “dystopia” in prison. He said that when you’re in prison, it seems like time goes in a circle, each day is a repeat of the day before.
He plays chess with other inmates, reads novels, works on his appeal, to pass the time. Behind bars, simple items such as muffins and instant noodles are used as currency, he also noted. Yet, in spite of his situation, SBF seems to be calmer and more reflective than before. He acknowledged that as FTX’s CEO he was unable to effectively communicate and instead got lost in the details and wasn’t able to see the bigger picture.
A Desperate Gamble for Freedom
SBF’s effort to get a pardon from Trump is a high stakes game. But despite Trump’s show of support for the crypto industry, many people in the crypto world lambasted SBF for what they describe, including in the video, as having caused what they are calling the “Crypto Winter.” The result of his fall was losses for investors on a wide scale and resulted in cryptocurrency in general being burned as a brand.
The source of aid for SBF may however come in Trump’s deepening involvement in the crypto space, some experts believe, since that could give him a better chance at getting a pardon. However, it is unlikely to happen, they say, without the crypto community actively pressing for his release. While Ulbricht enjoyed the backing of groups of libertarian crypto fans, SBF is largely viewed as a villain of the industry.
A Changed Man, But Not a Repentant One
It seems that SBF has changed in some ways, but he still states that he is not a criminal. Admitting that he had made mistakes, he denies fraud. He also reflects upon how prison has changed his opinions about relationships, connections and life overall. Nevertheless, some people still insist he played a role in one of the greatest financial scandals in recent memory.
Conclusion
Sam Bankman Fried’s sudden and improbable bet on a Trump pardon. A crypto poster boy has become a convicted fraudster who wants to associate himself with a former president. We don’t know whether SBF’s strategy will succeed or not, but it’s safe to say that this is far from the end of his story.
Also read: Trump-Binance Deal? CZ Welcomes U.S. Crypto as Token Surges Amid Stake Talks
