SBF on Tucker Carlson’s Podcast: Points Finger at Biden, SEC For FTX Collapse

In a prison interview with conservative host, Tucker Carlson, Sam Bankman-Fried blamed external forces for FTX’s collapse, like intervention from the Biden administration, which he claimed forced his hand in declaring bankruptcy. 

Bankman-Fried Plays Blame-Game

Disgraced FTX founder Sam Bankman-Fried, currently serving a 25-year prison sentence, defended his actions in a video interview with Tucker Carlson. Speaking from a federal detention center in Brooklyn, Bankman-Fried insisted that FTX’s collapse was not due to internal mismanagement but rather external interference. He asserted that the exchange, had it not been forced into bankruptcy, would have thrived with an estimated $93 billion in assets, significantly outweighing its current $15 billion liabilities.

Sharp Criticism of Biden Administration and SEC

During the interview, Bankman-Fried strongly criticized President Joe Biden’s administration, expressing surprise at its first two years. He also took aim at Securities and Exchange Commission (SEC) Chair Gary Gensler, calling crypto regulation under his leadership “a nightmare.” In contrast, he spoke favorably about former President Donald Trump, whose stance on cryptocurrency he found more promising.

Downplaying Crypto Crimes and Market Manipulation

Despite FTX’s downfall and the criminal charges against him and other executives, Bankman-Fried maintained that the scale of crypto-related scams today is lower than in the industry’s early days. He referenced Silk Road, the infamous darknet marketplace, to support his claim. When pressed on his personal financial situation, he admitted to having no liquid assets but reiterated his belief that FTX was a strong and potentially profitable entity before its collapse.

Legal Troubles and Ongoing Efforts for a Pardon

FTX’s failure led to criminal charges against Bankman-Fried and four other executives, including former Alameda Research CEO Caroline Ellison and former FTX Digital Markets co-CEO Ryan Salame, both of whom also received prison sentences. Bankman-Fried insisted he was not a criminal, adding that Salame’s charges were “bogus” and potentially politically motivated due to his Republican ties.

Bankman-Fried also weighed in on potential regulatory shifts, noting that while changes in leadership at the SEC matter, bureaucracies take time to evolve. His remarks align with growing tensions between crypto industry players and US regulators, particularly under Gensler’s tenure.

Seeking Pardon From President Trump

Bankman-Fried’s comments come amid reports that his parents are seeking a pardon from Trump. While Carlson did not ask directly whether he expected clemency, the former FTX CEO’s remarks suggested a shift towards Republican policies. He revealed that by 2022, he had begun donating to Republican campaigns as much as Democratic ones, a move he speculated may have influenced his legal troubles.

While he avoided direct references to his previous appeals for clemency, his latest comments indicate a growing alignment with Republican perspectives on regulation and business oversight.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.