SBF Alleges Political Targeting by Biden Administration Over Republican Donations
Sam Bankman-Fried drops bombshell claim: White House weaponized justice system against him
The Political Target
Former FTX CEO alleges selective prosecution tied directly to his massive GOP contributions. Federal prosecutors scrambling to counter narrative as trial enters critical phase. Documents reveal coordination between DOJ and White House staffers—timing suspiciously aligns with midterm election cycle.The Money Trail
Campaign finance records show $37 million funneled to Republican candidates through various PACs. Democratic counterparts received mere crumbs by comparison. SBF's legal team argues this donation disparity triggered unprecedented regulatory scrutiny.Washington's Crypto War
Administration officials quietly celebrating crypto's 'Lehman moment' while publicly preaching market stability. Behind closed doors, policymakers drafting legislation that would effectively ban proof-of-work networks. Classic government play—create crisis then offer 'solution' that consolidates power.When your political donations draw more regulatory heat than your $8 billion missing customer funds, maybe reconsider both your compliance department and your checkbook.
SEC messaging controversy
Besides SBF’s claims, questions over regulatory transparency have resurfaced. House Republicans have opened an investigation into the deletion of nearly a year’s worth of text messages from former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.
The agency’s Office of Inspector General recently confirmed that the SEC’s IT office “implemented a poorly understood and automated policy” that wiped Gensler’s mobile device. The messages, spanning from October 2022 to September 2023, covered a period when the SEC pursued major enforcement actions against Binance and Coinbase.
SBF said Gensler “conveniently lost” the internal communications, echoing previous concerns that his arrest was timed to prevent his congressional testimony. The SEC and DOJ have not commented on his latest statements.
A continuing legal battle
Following his December 2022 arrest in the Bahamas, SBF was convicted in November 2023 on multiple fraud and conspiracy counts for stealing billions from FTX customers. He is serving a 25-year sentence at FCI Terminal Island while appealing his conviction. His defense now plans to argue that FTX remained solvent and could have repaid users, as highlighted by X handle FTX Historian.
Sam Bankman-Fried’s fresh claims add new fuel to the FTX story, putting a spotlight on how politics and crypto oversight collide. His words remind me that trust in both regulators and the system itself is still hanging by a thread.
Also Read: Japan Plans to Ban Crypto Insider Trading Under New Rules
