Despite being responsible for a monumental market crash and industry disruption and jailed, former FTX CEO Sam Bankman-fried, popularly known as SBF, thinks he isn’t a criminal.
In a Tucker Carlson interview released on March 6, 2025, Sam Bankman-Fried (SBF) boldly said that he is not a criminal. This comes after Sam Bankman-Fried (SBF) was incarcerated on August 11, 2023, after a U.S. judge revoked his bail. He was found guilty of fraud and conspiracy on November 2, 2023, and later sentenced to 25 years in prison on March 28, 2024.
The former CEO of FTX maintained that FTX’s downfall wasn’t inevitable bankruptcy but a liquidity issue, claiming the company could have had $93 billion in assets if it hadn’t folded.
He regrets the collapse, calling it his life’s biggest failure and saying he has “virtually no money left,” blaming bankruptcy proceedings for dissipating remaining value. He felt terrible for customers but showed no clear remorse for his fraudulent actions.
SBF also lamented that no former FTX colleagues visited him, suggesting they faced pressure or threats of prosecution. He didn’t call on lawmakers for help in 2022, claiming he wanted to avoid anything “inappropriate.” In late January 2025, Bloomberg reported SBF’s father was exploring ways to secure presidential pardon for him.
The collapse of FTX
In 2019, he founded FTX, a cryptocurrency exchange designed to be more sophisticated than existing platforms, offering complex financial products like derivatives and leveraged trading. He testified before Congress, pushed for crypto regulation, and frequently appeared in interviews promoting FTX’s vision.
In November 2022, Coindesk published a report revealing that Alameda Research’s balance sheet was heavily reliant on FTX’s own token (FTT), raising concerns about financial stability. Soon after, Binance CEO Changpeng Zhao (CZ) announced that Binance would sell its holdings of FTT, triggering a panic.
FTX faced a bank run, with customers withdrawing billions. Within days, FTX and Alameda collapsed, revealing an $8 billion shortfall. It was later discovered that FTX had secretly used customer funds to cover Alameda’s losses. On November 11, 2022, FTX filed for bankruptcy, and SBF resigned as CEO.
SBF was arrested in the Bahamas on December 12, 2022, at the request of U.S. authorities. He was extradited to the U.S. and initially placed under house arrest at his parents’ home. However, after being accused of witness tampering, his bail was revoked on August 11, 2023, and he was jailed.
His trial began in October 2023, where former associates, including Caroline Ellison (CEO of Alameda), testified against him. On November 2, 2023, a jury found him guilty on all seven charges of fraud and conspiracy.
On March 28, 2024, he was sentenced to 25 years in prison for defrauding FTX customers and investors.
SBF’s political shifts
While speaking with Tucker, he reflected on his political evolution, saying he was “center-left” in 2020 and donated to Joe Biden’s campaign, expecting a moderate presidency.
Sam Bankman-Fried (SBF) donated approximately $40 million to political campaigns during the 2022 U.S. midterm elections, with the majority going to Democratic candidates and causes. This made him one of the largest political donors in that election cycle.
However, he told Tucker that he grew disillusioned with the Biden administration’s heavy-handed crypto regulations, particularly under SEC Chair Gary Gensler, whom he criticized as “politically ambitious” and obstructive.
By late 2022, he was giving equally to Republicans and Democrats, suggesting this shift might have influenced the lack of Democratic support during his legal troubles.
On Trump pro-crypto stand, mental health and staying with P Diddy
He expressed cautious optimism about cryptocurrency under Donald Trump’s administration, contrasting it with Biden’s restrictive approach. SBF pointed to Trump’s pro-crypto stance as a potential positive shift, though he emphasized that follow-through matters more than promises, and regulators might still lag.
SBF described prison as “dystopian” and said time feels “amorphous” because days blend together due to the lack of meaningful activities. He mentioned reading novels, playing chess, and working on his legal case to pass the time but highlighted the “soul-crushing” absence of purpose as the hardest part. He noted he’s not in physical danger, contrasting his situation with more acute risks others might face.
Sharing a cell block with Sean “Diddy” Combs at the Metropolitan Detention Center in Brooklyn, SBF called him “kind” to both himself and others in their unit. He mused that if someone had predicted this three years ago, he’d have speculated Combs might have gotten into crypto. He also described their unit as a mix of high-profile cases and “alleged ex-gangsters,” some of whom are surprisingly good at chess despite limited formal education.
When Carlson noted SBF seemed “less jumpy” and “healthier” than in past TV appearances—where he appeared “flying high on Adderall”—SBF denied using the drug. He admitted his mind was “racing” back then due to the chaos of managing FTX, not medication. He also questioned whether he has the mental strength to endure his 25-year sentence.
On his 33rd birthday, he told Carlson he had no celebration plans, noting he never liked birthdays even before prison. His diet consists mostly of rice and beans.
Five months back, a U.S. judge approved FTX’s plans for bankruptcy recovery. As the company works to reimburse users for their losses, they’re encountering a hurdle: a surge in claims from users in countries currently ineligible for payments.
These regions include Russia, China, Egypt, Nigeria, and Ukraine. The firm is now exploring strategies to address this issue, as countless worried users anxiously await news on whether they will see their funds restored.
