Former FTX CEO SBF Criticizes Biden Administration from Prison

Argentine President Javier Milei and former FTX CEO Sam Bankman-Fried find themselves at the center of controversy as they navigate political and legal challenges. Milei, facing scrutiny over the LIBRA meme coin scandal, has traveled to the United States for diplomatic meetings and economic discussions, aiming to shift public focus and restore confidence in his administration. Meanwhile, Bankman-Fried, speaking from prison, has opened up about his shifting political views and past campaign donations, as his family pushes for clemency despite long odds. Both figures are attempting to manage the fallout from their respective crises while shaping their futures in the public eye.

Sam Bankman-Fried Breaks Silence from Prison: Political Shift and Clemency Hopes

Former FTX CEO Sam ”SBF” Bankman-Fried has resurfaced in the political discourse, speaking out from prison about his past political donations and an ideological shift following his high-profile contributions during the 2020 United States elections. In a recent interview with The New York Sun, the disgraced crypto mogul revealed the motivations behind his political giving and expressed frustration with the Biden administration, citing it as a key factor in his rightward shift.

Bankman-Fried, once one of the largest donors to Democratic candidates and causes, claims his contributions in 2020 were primarily intended to prevent the Democratic Party from ”becoming the party of Bernie Sanders.” The Vermont senator, a well-known progressive advocate, has long championed policies such as wealth redistribution, Medicare for All, and student debt cancellation—stances that SBF evidently sought to curb through his donations.

“I would say that I viewed myself at the time as sort of center-left. And that is not how I feel myself anymore. It is not how I came to view myself by 2022,” SBF stated in the interview. He went on to describe his growing discontent with the Biden administration, calling it ”incredibly destructive and difficult to work with.” According to Bankman-Fried, it was this experience that led him to view the Republican Party as ”far more reasonable.”

While SBF’s political transformation may come as a surprise to some, his history of strategic political giving indicates a deep engagement with US policy—particularly regarding cryptocurrency regulation. Before FTX’s spectacular collapse, he was among the most influential figures in the crypto space, lobbying Washington to shape regulations in ways that would favor his business interests.

SBF’s political influence extended well beyond his initial support for Democrats. By 2022, he had donated approximately $40 million to various political candidates and political action committees (PACs), a move largely seen as an attempt to curry favor and influence crypto-related legislation. These donations positioned him as one of the top individual donors in the election cycle, despite growing scrutiny over the operations of FTX.

However, these contributions have since become a point of controversy, particularly following the collapse of FTX in November 2022. The platform’s implosion led to significant financial losses for investors, sparking legal battles and SBF’s eventual conviction. His political donations have been scrutinized in court proceedings, with some calling for politicians to return the money due to its questionable origins. The forfeiture of $1 billion in assets linked to Bankman-Fried has only fueled further debate over the legitimacy of his financial dealings.

Clemency Efforts and Trump’s Pardon Factor

As SBF serves his 25-year prison sentence, his parents, Joseph Bankman and Barbara Fried, have launched efforts to secure a pardon for their son. Their strategy has turned toward President Donald Trump, who is currently campaigning for re-election and has previously issued high-profile pardons.

Despite their efforts, legal experts argue that SBF's chances of receiving a pardon are slim. William Livolsi, executive director of the White Collar Support Group, emphasized that Bankman-Fried lacks the high-profile campaign backing that facilitated the 2021 presidential commutation of Silk Road founder Ross Ulbricht.

Judge Lewis A. Kaplan, who presided over SBF’s trial, made it clear that the former CEO’s sentence was intended to reflect the severity of his crimes. Kaplan criticized Bankman-Fried’s courtroom demeanor, calling him ”evasive” and accusing him of ”hair-splitting” throughout the proceedings.

“I have been doing this job for close to 30 years. I have never seen a performance like that,” Kaplan remarked during sentencing.

While SBF’s public statements from prison indicate a desire to reshape his political narrative, his future remains uncertain. The road to clemency is fraught with challenges, and political observers doubt whether any administration—Republican or Democrat—would risk the backlash of granting him a pardon.

As the political landscape continues to evolve, Bankman-Fried’s legacy in both the cryptocurrency industry and the political sphere remains deeply controversial. Whether his ideological shift will carry weight in his quest for leniency remains to be seen, but for now, his legal troubles appear far from over.

Argentine President Javier Milei Seeks Political Rebound Amid LIBRA Meme Coin Scandal in US Visit

Argentine President Javier Milei arrived in the United States on Feb. 20, embarking on a trip marked by high-level diplomacy and economic negotiations, but also one shadowed by the unfolding LIBRA meme coin scandal. The controversy, which some Argentine publications have dubbed “Cryptogate,” threatens to tarnish his administration’s credibility as he seeks to refocus his political narrative.

According to Bloomberg, Milei’s itinerary includes a crucial meeting with billionaire entrepreneur Elon Musk, a prominent supporter, as well as discussions with Kristalina Georgieva, the head of the International Monetary Fund (IMF). He is also scheduled to speak at the Conservative Political Action Conference (CPAC), a Trump-aligned event known for promoting right-wing political figures.

The visit comes at a critical time for Milei, who is attempting to distance himself from the meme coin scandal while reaffirming his economic vision for Argentina. By engaging with influential figures and appearing on key political platforms, Milei aims to reset public perception and stabilize investor confidence.

On Feb. 14, Milei shared the contract address of the LIBRA meme coin on his X account, endorsing it as a tool to “encourage the growth of the Argentine economy.” However, within hours, the team behind the token allegedly executed a rug-pull, draining investor funds and leading to losses estimated at around $251 million.

Public backlash was swift, and on Feb. 18, Argentine newspaper La Nación published a report implicating Milei’s administration in possible corruption. The report included leaked text messages from Hayden Davis, a co-creator of LIBRA, alleging that he secured influence over Milei’s administration by bribing the president’s sister, Karina Milei. In response, Argentine lawyers have filed fraud charges against the president, and some political voices have even called for his impeachment.

Milei and his team have attempted to control the damage, with the president appearing in an interview aired on Feb. 17 in Argentina to deny any involvement with the LIBRA project. However, a poll conducted by Clarin, a leading Argentine newspaper, suggests that many citizens believe Milei bears responsibility for the losses, with a significant portion of the public convinced that his X post was intentional rather than a mistake.

Despite this, the poll also indicates that while Argentines want a thorough investigation into the matter, only a minority support impeachment. Furthermore, the scandal appears to have had minimal impact on voters’ positions ahead of the 2025 legislative elections, suggesting that while trust in Milei’s leadership may have suffered, his political standing remains largely intact.

A Tactical US Visit Amid Crisis

Milei’s trip to the United States offers him an opportunity to shift the focus away from the scandal and onto economic discussions. On Feb. 17, US President Donald Trump posted on Truth Social a picture of Milei along with one of his quotes: “If printing money would end poverty, printing diplomas would end stupidity.” 

Argentine economist Carlos Melconian has warned that the most significant fallout from the LIBRA scandal may not be financial but rather a loss of public confidence in Milei’s words. He argues that trust is crucial for the success of any economic program, and if the administration fails to restore it, Argentina’s broader economic agenda could be at risk.

Milei’s visit to the United States may provide a temporary reprieve from domestic criticism, but it does not eliminate the underlying political and legal challenges. The LIBRA scandal continues to generate controversy, and as investigations unfold, his administration will need to navigate an increasingly precarious political landscape. Whether Milei’s diplomatic engagements can counterbalance the damage done by the meme coin debacle remains to be seen, but his ability to restore confidence—both domestically and internationally—will be a key determinant of his administration’s future.