1 hour ago
1
Disgraced FTX founder Sam Bankman-Fried has reignited controversy from prison after publicly endorsing the proposed CLARITY Act, calling it a “huge milestone for crypto” and “a huge achievement” for Donald Trump.
Summary
- Sam Bankman-Fried praised the CLARITY Act and credited Donald Trump, triggering immediate criticism from U.S. senators.
- Cynthia Lummis dismissed SBF’s comments and suggested the legislation would not benefit him legally.
- Elizabeth Warren warned that SBF’s backing should concern lawmakers debating crypto market structure reform.
Sam Bankman-Fried backs CLARITY Act, draws swift rebuke from Lummis and Warren
In a post on X, Bankman-Fried claimed he had championed similar legislation aimed at limiting the regulatory authority of former SEC Chair Gary Gensler before his prosecution. He suggested that Gensler “helped Biden’s DOJ put me behind bars,” reviving familiar allegations that his case was politically influenced.
The comments quickly drew bipartisan backlash.
Senator Cynthia Lummis responded sharply, writing: “Someone’s looking for a pardon and doesn’t realize the CLARITY Act would have you locked up for much longer than 25 years.”
She added that her crypto legislation differs fundamentally from what she described as the bill Bankman-Fried “tried to buy from Congress” in 2022. “We do not need—nor want—your support,” she said.
Senator Elizabeth Warren also weighed in, warning that Bankman-Fried’s endorsement should “set off alarm bells.” Warren reiterated her stance that any crypto market structure legislation must prioritize investor protection and financial stability.
Sam Bankman-Fried, the fraudster who stole at least $8 billion from customers using his crypto exchange, just endorsed the CLARITY Act.
That should set off alarm bells.
Any crypto market structure bill must protect investors, our financial system, and American taxpayers. https://t.co/a0V6SPOgE3
Bankman-Fried, who is serving a lengthy federal sentence following his conviction over the collapse of FTX, has recently attempted to re-enter public discourse through media outreach and social media commentary. Previous efforts to sway political opinion, including outreach linked to Trump, have largely failed to gain traction.
The episode shows the heightened political sensitivity surrounding crypto regulation, particularly as lawmakers debate market structure reforms amid lingering fallout from FTX’s multibillion-dollar collapse.
English (US) · 