Sam Bankman-Fried Blames Politics: Says Biden Team Targeted Him For GOP Support

Sam Bankman-Fried has gone on the offensive, accusing the administration of former US President Joe Biden of singling him out after he said he shifted large donations toward Republican causes.

In a post on microblogging site GETTR, he framed the move as political retaliation for his funding choices and for his plans to speak before Congress on crypto policy.

Sam Bankman-Fried: Claims Of Political Targeting

According to recent posts and statements attributed to him, he says he donated “tens of millions” to Republican groups and that federal actions followed soon after.

He argues his arrest came weeks before a crypto bill he backed was scheduled for a vote and the night before he was due to testify to lawmakers — timing he calls suspect. Reports note he published these allegations on social platforms where he has sought to explain his side.

The missing trail of internal messages has added fuel to the controversy. Based on reports, messages from former US Securities and Exchange Commission Chair Gary Gensler’s government phone covering parts of late 2022 and 2023 were not recoverable, which critics say leaves questions unanswered about how and when regulators decided to act.

Officials have offered technical explanations, while some lawmakers have demanded more documents and clarity.

Conviction And Punishment

Bankman-Fried faces a heavy legal record that complicates his claims. According to federal prosecutors and court filings, he was convicted on multiple fraud and conspiracy counts and later sentenced to a 25-year prison term after a trial that traced large customer losses to his companies.

Reports put customer losses in the billions and cite judicial findings about false statements and misuse of funds.

Financial fallout tied to the collapse of his exchange has already rippled through politics. Based on reports, FTX debtors and bankruptcy trustees have sought to recover more than $38 million in political donations made by him and associates, arguing some gifts were funded improperly.

The recovery efforts show the money flowed through a mix of PACs and dark-money groups, with a large share tied to Republican-aligned organizations.

Political Reactions And What Comes Next

Lawmakers and commentators have split along partisan lines in how they view his latest claims. Some Republican members of Congress have seized on the missing messages and the timing of the arrest to press for documents and answers from regulators.

Other observers point back to the trial record and evidence presented in court, saying the prosecution stood on detailed financial traces and witness testimony.

Bankman-Fried is serving his sentence at a federal prison in Mendota, California. He’s appealing his conviction, claiming unfair treatment and political bias. Once a billionaire leading a global exchange, FTX, he now spends his days behind bars, fighting to regain his freedom.

Featured image from The New York Times, chart from TradingView