Sam Bankman-Fried, the former founder of FTX, has begun supporting US President Donald Trump while criticizing former President Joe Biden.
This shift appeared after Caroline Ellison, the former head of Alameda Research, was released from federal custody. Ellison served 440 days in prison for her role in the events that led to FTX’s collapse in 2022.
Bankman-Fried stated in a post on X, “Donald Trump is right on crypto”. The post came after Ellison completed her prison sentence and was released.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
How to Make Passive Money with NFT? (Explained!)
Bankman-Fried also spoke about Trump’s foreign policy. He commented on the arrest of Venezuelan President Nicolás Maduro and described the decision as “smart, gutsy, and pro-democracy”.
At the same time, Bankman-Fried has taken a critical stance toward the Biden administration. He claimed that dissatisfaction with Biden was common among international leaders he encountered.
He also blamed Biden for the weak handling of cryptocurrency policy. According to Bankman-Fried, the problems were not unavoidable. He argued that Biden had other options within his own party.
He said that Biden “didn’t have to” make the choices he made because there was “plenty in the party had reasonable thoughts”.
Bankman-Fried pointed to one decision in particular as an example of poor judgment. He criticized Biden’s choice of Gary Gensler as chair of the Securities and Exchange Commission (SEC).
Meanwhile, Changpeng Zhao confirmed he will not return to Binance
$13.78B
. What did he say? Read the full story.
