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Sam Bankman-Fried returned to the social media platform X, marking his first public post since January 2023. His comeback coincided with a brief but notable surge in the value of FTX’s exchange token, FTT, which spiked over 29% from $1.60 to $2.07, according to CoinGecko data, before settling at $1.77.
In a series of 10 posts published at 8:53 p.m. ET on Monday, Bankman-Fried shared his perspective on the recent mass layoffs executed by the U.S. government under President Donald Trump and the Department of Government Efficiency, which is headed by Elon Musk. These layoffs have affected approximately 95,000 government employees, with hints at more to come.
Bankman-Fried’s posts drew parallels between the layoffs and his own experiences, noting the difficulties in management that often lead to employees being let go. He highlighted that it’s not the fault of the employees if "internal politics lead their department to lose its way," yet also recognized the futility of retaining staff without meaningful work for them.
The former FTX executive is currently serving a 25-year sentence after being convicted of one of the largest financial frauds in U.S. history, defrauding investors of billions of dollars.
At 32 years old, Bankman-Fried is seeking a pardon from President Trump, who has shown a pro-crypto stance by recently pardoning Silk Road founder Ross Ulbricht. Bankman-Fried is also appealing for a mistrial, citing "prosecutorial overreach" during the Biden administration and expressing disappointment with the Democratic Party.
Despite his efforts, prediction markets like Polymarket suggest a mere 3% chance that Bankman-Fried will receive a pardon from Trump within his first 100 days in office. Bankman-Fried was notably one of the top donors to the Biden campaign in the 2020 election, which saw Biden running against Trump.
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