Sam Bankman-Fried Stocks Plunge as He Denies Criminal Charges in Prison Interview
1min read Sam Bankman-Fried, the former CEO of ftx, who is currently serving a 25-year prison sentence, recently discussed his legal case and views on cryptocurrency regulation in an interview with Tucker Carlson. Bankman-Fried, who appeared healthy and in good spirits, denied being a criminal and challenged the U.S. Department of Justice’s position on his case. He described his prison life as a “dystopian” experience, currently held at the metropolitan Detention Center in Brooklyn, New York.
During the interview, Bankman-Fried shared his detention facility with Sean “P. Diddy” Combs, who is being held on charges of sex trafficking and racketeering. Bankman-Fried had positive remarks about Combs, stating that he has been kind to people in the unit, including himself. The conversation also touched on Bankman-Fried’s political donations, revealing that by late 2022, he was giving to Republicans privately as much as Democrats. This information became known around the time of FTX’s collapse, which likely played a role in the lack of support from Democratic politicians.
Bankman-Fried was particularly critical of former SEC Chair Gary Gensler’s approach to cryptocurrency regulation, describing it as “something out of a nightmare.” He suggested that Gensler had political motives behind his strict crypto policies, aiming to increase his agency’s power and raise his profile. The interview also covered the fate of Bankman-Fried’s former associates, with him expressing sympathy for Ryan Salame, the former FTX co-CEO who was sentenced to 90 months in prison after pleading guilty to fraud and conspiracy charges. Bankman-Fried claimed that Salame was charged with “totally bogus crimes” and that prosecutors threatened to charge Salame’s pregnant wife.
Despite his own legal troubles, Bankman-Fried expressed optimism about the future of cryptocurrency under President Donald Trump’s administration. He noted that the current administration is saying “a lot of good things” about the crypto industry, contrasting Trump’s approach with former President Joe Biden’s stance on cryptocurrency. When pressed about serving his full 25-year sentence, Bankman-Fried showed uncertainty, stating that the hardest thing is just not having something meaningful to be doing in prison. If he serves his complete sentence, Bankman-Fried will be 57 years old upon release, although there is a possibility of sentence 