Sam Bankman-Fried on Thursday reposted President Donald Trump‘s jobs report tweet, claiming for President Joe Biden “literally” prevented companies from operating in America through regulation while Trump welcomes them back.
The Trump Endorsement
Bankman-Fried reposted Trump’s tweet celebrating jobs numbers and calling for lower U.S. borrowing rates, arguing Biden forced companies offshore through impossible regulation while Trump welcomes them back.
SBF accused Democrats of “insane regulation” requiring licenses but refusing to issue them, making it impossible for companies to operate legally in America.
He said the Department of Justice under Biden indicted entire industries, forcing prediction markets and crypto firms offshore.
“Under President Trump, that’s changed. The DOJ is no longer indicting entire industries,” SBF wrote, citing how liquid prediction markets now open to Americans after years offshore.
He also attacked Democratic tax policy for increasing corporate taxes and creating loopholes that kept money offshore.
SBF credited Trump’s expanded business tax breaks for pulling investment back to the U.S.
The New Trial Push
SBF’s new trial motion challenges his fraud conviction, alleging false theft claims and new evidence of FTX’s solvency.
He argues FTX was never insolvent—it merely faced a short-term liquidity crisis from a run on the exchange.
The core dispute centers on narrative. Prosecutors argued Bankman-Fried directed Alameda to commingle customer funds, causing $8 billion in losses through risky trading.
SBF claims the company always had sufficient assets to repay deposits in full.
The motion accuses DOJ of witness intimidation, threatening a fiancée to alter testimony undermining the fraud narrative. If proven, this could severely undermine the prosecution’s flow-of-funds argument.
The reframing matters for markets. Shifting the $8 billion loss from permanent fraud to temporary cash-flow problem changes perception. A successful motion would force a new trial, reopening the dispute and creating uncertainty for crypto.
What This Means
SBF’s Trump endorsement contradicts his conviction narrative—praising the administration while serving 25 years for fraud.
The timing suggests rehabilitation strategy rather than policy analysis.
For Bitcoin (CRYPTO: BTC) and crypto markets, the new trial motion is a binary event.
A grant forces reopening the case, unsettling sector confidence. A denial solidifies the verdict and dampens challenges to other cases.
The witness intimidation claims need DOJ response.
Evidence contradicting coercion allegations bolsters trial credibility. Failure to address the claims fuels skepticism about prosecution integrity.
A successful motion could trigger a wave of appeals in other crypto fraud cases, signaling DOJ tactics are vulnerable and complicating capital flows into the industry. The court decision is expected within months.
Image: Shutterstock
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