The Desperation Trade
While Caroline Ellison tastes freedom, Sam Bankman-Fried is doubling down on a long-shot bid for salvation. On Friday, the disgraced FTX founder’s X account, managed by surrogates, broke radio silence to endorse President Donald Trump, declaring him “right on crypto.” The pivot comes just days after Ellison, his former co-conspirator and ex-girlfriend, was released from federal custody on January 21.
The contrast is stark. Ellison served approximately 14 months of her two-year sentence, securing early release via good-conduct credits and “substantial cooperation” that sealed Bankman-Fried’s fate. Bankman-Fried, serving 25 years, is now attempting a political rebrand from a cell in the Metropolitan Detention Center.
The “Secret Republican” Offensive
Bankman-Fried’s sudden MAGA alignment isn’t impulsive; it’s a strategy outlined in his own legal discovery. Internal documents released during his trial revealed a pre-meditated plan to “come out as a republican” to counter the narrative of his massive Democratic donations. His surrogates are now executing that playbook.
“@realdonaldtrump is right on crypto.” Post attributed to Sam Bankman-Fried, Jan. 30, 2026.
The thread further claimed SBF held undisclosed “dark” support for GOP candidates and criticized the Biden administration’s handling of digital assets. It’s a hard pivot from 2020, when he was the second-largest donor to Joe Biden.
Trump’s Hard No
The strategy faces a $5 billion obstacle. President Trump has already signaled zero interest in clemency. In a January 9 interview with the New York Times, Trump explicitly ruled out a pardon for Bankman-Fried, grouping him with other non-starters. This rejection stands despite Trump’s recent pardons of other crypto figures, including Silk Road founder Ross Ulbricht and Binance’s Changpeng “CZ” Zhao.
The irony runs deep. In 2023, reports surfaced that Bankman-Fried had explored paying Trump up to $5 billion not to run for president. Now, with Ellison reintegrating into society and his appeals struggling, the former exchange boss is publicly lobbying the very man he once plotted to sideline.
