Sam Bankman-Fried Breaks Silence From Prison: FTX Boss Reveals Real Reason Behind His Arrest

Incarcerated FTX founder Sam Bankman-Fried (SBF) has reawakened controversy by immediately difficult the narrative of his arrest. In a submit shared on GETTR, which was most certainly penned or printed with help from a friend, Bankman-Fried painted an image of political retaliation by the Biden administration’s regulators. 

He claims that his change in political alignment and donations led to the timing of his December 2022 arrest, which he says was meant to silence him forward of congressional testimony and an necessary crypto invoice.

SBF Says Arrest Was Politically Motivated

In his GETTR post, SBF recollects that in 2020, he recognized as center-left. But by 2022, he says, witnessing what he describes as aggressive regulatory moves by then-SEC Chair Gary Gensler and the DOJ underneath President Biden made him extra cautious of the Democratic place on crypto.

After this, he began to privately donate tens of millions to Republican campaigns alongside his public Democratic donations. However, his newly aligned donations to Republican causes, he claims, precipitated regulatory consideration that quickly got here knocking.

“In 2020, I used to be center-left. By 2022—having seen Gensler/Biden’s DOJ on crypto—I used to be a centrist, and (privately) donated tens of tens of millions to Republicans,” he wrote.

Reports by CBS confirmed that Sam Bankman-Fried made about $40 million in political donations within the 2022 election cycle. An enormous chunk of those donations (about $27 million) was made to “Protect Our Future PAC,” a bunch that spent $24.2 million to marketing campaign for 19 Democratic House candidates. 

Interestingly, in a November 2022 interview, Bankman-Fried famous that his donations to Republican causes have been almost equal to these given to Democrats, although they have been largely made behind the scenes to keep away from reporters catching on.

Arrest Timing Raises Claims Of Suppressed Testimony

Back to the GETTR submit, Bankman-Fried contends that his arrest was rigorously timed. He says it got here simply weeks earlier than a crypto regulation invoice he had been engaged on was set for a vote and on the eve of the listening to the place he was anticipated to testify earlier than Congress.

His declare aligns with complaints by House Republicans, who’ve argued the arrest might have been orchestrated to dam his testimony. They demanded that Gensler launch communications in regards to the timing of actions taken by the SEC and DOJ.

However, the interior SEC messages throughout the related interval have been destroyed or misplaced, as former SEC Chairman Gary Gensler’s government-issued telephone underwent an enterprise wipe that erased all texts between October 2022 and September 2023. The SEC Office of Inspector General confirmed that knowledge on the gadget was deleted, attributing the wipe to automated IT coverage and failure to sync the telephone to SEC programs.

Meanwhile, SBF continues serving a 25-year sentence after being discovered responsible on seven legal counts.