Sam Bankman-Fried tries to get on Donald Trump’s good side by backing his Iran strikes

The jailed founder of bankrupt crypto exchange FTX is fueling growing speculation that he is seeking a presidential pardon.

Make us preferred on Google

What to know:

• Sam Bankman-Fried, the former FTX chief serving a 25-year fraud sentence, has stepped up public praise of President Donald Trump, including support for recent U.S. strikes on Iran.
• His comments, issued via prison-approved intermediaries, highlight Trump-era policies on gas prices and crypto regulation and have fueled speculation he is seeking a presidential pardon.
• The outreach comes as the FTX Recovery Trust moves to return about $2.2 billion to creditors amid near-full recoveries for many.

Former FTX CEO Sam Bankman-Fried, who is currently serving a 25-year sentence for fraud, has renewed public praise of U.S. President Donald Trump, adding to speculation that he hopes to secure a pardon.

In a recent post on X, written through a proxy using prison-approved communications, Bankman-Fried backed Trump’s decision to launch strikes against Iran. He framed the move as necessary to counter nuclear risk and claimed the operation had sharply reduced Iran’s military capacity.

The comments mark his latest in a string of statements supportive of the U.S. president. In earlier posts, he pointed to lower gas prices under Trump than in the Biden era and in other countries. He also credited Trump with “saving” the SEC by replacing former chair Gary Gensler with Paul Atkins, arguing the shift eased pressure on crypto firms and reduced inter-agency conflict.

The tone has drawn attention, given Bankman-Fried’s legal position. Presidential pardons have historically extended to financial crimes, and Trump has shown a willingness to grant clemency in high-profile cases. Ross Ulbricht, who operated a digital black market platform called Silk Road, was sentenced to life in prison without the possibility of parole in 2015 before Trump freed him shortly after being sworn in in 2025. For Bankman-Fried, whose conviction stemmed from one of the largest financial collapses in crypto history, public alignment with the president may serve a clear purpose.

His outreach comes as the remnants of his former empire continue to unwind. Earlier this week, the FTX Recovery Trust said it will distribute about $2.2 billion to creditors as part of an ongoing Chapter 11 process, pushing recovery rates close to full repayment for many claim classes.

Still, the damage from FTX’s collapse runs deep. Millions of customers lost access to funds in 2022, and the event shook trust in crypto markets. Prices fell, firms failed, and regulators stepped in with tighter scrutiny. The case remains a reference point for risk in the industry.

Bankman-Fried’s praise of Trump’s Iran policy lands as that decision faces growing criticism, with some warning the conflict could strain public finances and disrupt global oil supply, as well as concerns about inflation and higher costs for households and businesses.

For now, Bankman-Fried remains behind bars, communicating through intermediaries while his former company repays creditors. His lawyers filed a motion for a new trial in February, which the government opposed. His public messaging, however, suggests he is trying to shape an outcome beyond the courtroom.

More For You

Sam Bankman-Fried's past political cash gives AI PAC fuel for bashing NY candidate Bores

A mailer from Think Big PAC told voters that the Democratic U.S. House candidate once got $100,000 in support from the former head of failed global exchange FTX.

What to know:

• A pro-technology super PAC, Think Big PAC, is targeting New York Assemblymember Alex Bores in the crowded NY-12 Democratic primary with mailers tying him to over $100,000 in independent support from Sam Bankman-Fried’s 2022 political network.
• The attack comes as Bores, who has introduced AI safety legislation in New York, faces pushback from industry-aligned groups.

Sam Bankman-Fried's past political cash gives AI PAC fuel for bashing NY candidate Bores

16 hours ago

Senators say they've reached compromise on yield to advance crypto market bill

17 hours ago

Kalshi gets temporary Nevada ban in dispute over sports betting

18 hours ago

Nasdaq winning SEC approval to move stocks onchain shows how Wall Street is taking charge of crypto tech

19 hours ago

Bitcoin's latest fear unlocked as rate hike bets rise and bond markets crumble

22 hours ago

Why CoinDesk PitchFest matters heading into Miami

22 hours ago

Crypto wallet maker Ledger taps former Circle exec as CFO to help lead IPO push

23 hours ago

Bitcoin’s price action looks dangerously similar to the pattern that sent it crashing to $60,000

Mar 20, 2026

Coinbase introduces stock perpetual futures contracts for non-U.S. customers

Mar 20, 2026

Wall Street heavyweight Cantor among investment banks pitching FalconX for its potential IPO

Mar 19, 2026