Former FTX CEO Sam Bankman-Fried, who is currently serving a 25-year prison sentence for fraud, has renewed public praise of US President Donald Trump, adding to speculation that he hopes to obtain a pardon.
In a recent article on X, written through a proxy using prison-approved communications, Bankman-Fried supported Trump’s decision to launch strikes against Iran. He called the move necessary to counter nuclear risk and said the operation had significantly reduced Iran’s military capability.
The comments mark the latest in a series of statements of support for the US president. In previous articles, he pointed out that gas prices were lower under Trump than during the Biden era and in other countries. He also credited Trump with “saving” the SEC by replacing former chairman Gary Gensler with Paul Atkins, arguing that the change eased pressure on crypto companies and reduced inter-agency conflicts.
The tone drew attention, given Bankman-Fried’s legal position. Presidential pardons have historically extended to financial crimes, and Trump has been willing 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 released him shortly after he was sworn in in 2025. For Bankman-Fried, whose conviction stems from one of the biggest financial collapses in crypto history, public alignment with the president may serve a clear purpose.
His outreach comes as the vestiges of his former empire continue to crumble. Earlier this week, the FTX Recovery Trust announced it would distribute approximately $2.2 billion to creditors in an ongoing Chapter 11 process, pushing recovery rates close to full repayment for many categories of debt.
Yet the damage caused by FTX’s collapse runs deep. Millions of customers lost access to funds in 2022 and the event shook confidence in crypto markets. Prices fell, companies went bankrupt, and regulators stepped in with greater scrutiny. The case remains a benchmark for risk in the industry.
Bankman-Fried’s praise of Trump’s Iran policy comes as the move faces growing criticism, with some warning the conflict could strain public finances and disrupt global oil supplies, as well as concerns about inflation and rising costs for households and businesses.
For now, Bankman-Fried remains behind bars, communicating through intermediaries while his former company pays off creditors. His lawyers filed a motion for a new trial in February, which the government opposed. His public messages, however, suggest he is trying to achieve something beyond the courtroom.
