- Sam Bankman-Fried slammed the US regulators and Biden administration.
- SBF termed SEC’s approach to crypto under former Chair Gary Gensler as a “nightmare.”
- SBF accepted that he made donations to Republicans secretly as well.
Disgraced FTX founder Sam Bankman-Fried, now serving a 25-year sentence for fraud and conspiracy charges, gave a rare interview from federal prison, talking with former Fox News host Tucker Carlson..
During the 40-minute conversation, Bankman-Fried criticized US regulators, looked back on his own downfall, and hinted how he was unfairly targeted because of shifting political alliances.
SBF Rips Regulators, Biden Admin
Bankman-Fried did not mince words when talking about the Biden administration and the Securities and Exchange Commission (SEC) under former Chair Gary Gensler.
He called the early years of Biden’s presidency “shocking” and described the SEC’s approach to crypto regulation as “something of a nightmare.”
Trump Crypto Stance Gets Nod from SBF
On the other hand, he did sound somewhat positive about Donald Trump’s stance on cryptocurrency. This is interesting given his past as a major donor to Democratic politicians.
He revealed that around late 2022, he had quietly started donating to Republican candidates too, saying he was deeply disappointed with the administration’s handling of financial regulations.
Related: From Prison, SBF Claims FTX Had Funds, Blames ‘Liquidity Panic’
“By late 2022, I was giving to Republicans privately as much as Democrats,” he said, suggesting that his bipartisan donations may have played a role in the scrutiny he later faced.
Carlson pressed him on his past financial backing of Democratic figures, wondering why he did not call on them for help when FTX collapsed in late 2022. Bankman-Fried responded that he wanted to avoid doing anything “wrong.”
Prison Life: Chess, Muffins, and Diddy
The conversation also gave a look into Bankman-Fried’s life inside Brooklyn’s Metropolitan Detention Center. He said his time there was “kind of dystopian,” but mentioned that he spends his days reading novels and playing chess.
One of his other controversial fellow inmates is rapper Sean “Diddy” Combs, who he described as “kind” to him and others there. To get by, Bankman-Fried said he has started using pre-wrapped muffins as currency to barter for goods within the prison.
SBF: FTX Failure a “Colossal Disaster,” But I’m No Criminal
Looking back on the FTX collapse, Bankman-Fried admitted it was a “colossal disaster” and his greatest regret. However, he insisted he does not see himself as a criminal.
“Of course, I think the DOJ thinks I may have been,” he quipped, implying that his prosecution was more about perception than outright criminal intent.
Related: FTX Creditors to Be Repaid Starting Feb 18, but at 2022’s Rock-Bottom Prices
He also admitted that during the crisis, he had trouble effectively communicating the situation to the public, often getting “lost in details” and not getting across the “big picture.”
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