Disgraced cryptocurrency mogul Sam Bankman-Fried weighed in on the future of digital assets under President Donald Trump’s administration, according to an interview from his prison released Thursday.
What Happened: In an interview with popular media personality Tucker Carlson, Bankman-Fried appeared hopeful about a better prospect under Trump.
“You look at what the Trump administration said going into office. There are a lot of good things. There are a lot of things that are very different from the stance that the Biden administration took,” the founder of the now bankrupt FTX cryptocurrency exchange said.
Bankman-Fried added that what counts now is the fulfillment of those promises.
“Changing the guard helps. But financial regulators, they’re big giant bureaucracies in the federal government. They’re not used to changing overnight,” he emphasized. “So, I think the big question is when rubber meets the road.”
Bankman-Fried, who is serving a 25-year sentence for the FTX fraud, also reminisced about donating to Joe Biden’s 2020 campaign, adding that he used to lean toward the centre-left then.
He said he became disillusioned after making several trips to Washington, D.C., and realized things weren’t moving in a “good direction.”
“By late 2022, I was giving to Republicans privately as much as Democrats, and that started becoming known right around after this collapse,” Bankman-Fried added.
See Also: Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate
Why It Matters: Once known as the cryptocurrency white knight, Bankman-Fried's fortunes changed dramatically after his FTX empire came crashing down following accusations of misappropriation of customer accounts in November 2024. The event sparked a cryptocurrency bear market, sending coins like Bitcoin (CRYPTO: BTC) to new depths.
His parents, both Stanford Law professors, are seeking a presidential pardon from Trump
In the same interview, Bankman-Fried shared his prison experience, including interactions with fellow inmate Sean “Diddy” Combs, whom he described as “kind.”
Photo via Shutterstock.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
