Key Highlights
- Sam Bankman-Fried reacted to Trump’s pardon of ex-Honduran President Hernández, calling him one of the most deserving.
- Hernández’s family thanked Trump and said he was unfairly targeted in a “rigged trial,” praising his fight against drug trafficking.
- Bankman-Fried’s comments drew attention because he is also seeking a presidential pardon while serving a 25-year sentence for FTX-related fraud.
Sam Bankman-Fried (SBF), the former CEO of the failed crypto exchange FTX, spoke out on social media Tuesday following U.S. President Donald Trump’s pardon of ex-Honduran President Juan Orlando Hernández.
Hernández had been sentenced to 45 years in prison last year on drug trafficking charges. On X, Hernández’s family expressed deep gratitude, calling the pardon a long-awaited relief after years of political persecution.
They said he was unfairly targeted in a “rigged trial” and praised his efforts to fight drug trafficking, thanking Trump, God, and supporters for restoring his freedom. Isabela Hernández also shared her gratitude, writing that truth had prevailed.
Responding to her post, Bankman-Fried, through a friend on X, wrote, “I’m so glad Juan Orlando is free—few are more deserving than him.”
SBF’s legal situation
The comments have sparked attention because Bankman-Fried himself is seeking a presidential pardon. He is serving a 25-year federal sentence after his 2023 conviction for multiple fraud and conspiracy charges linked to FTX’s collapse, which left billions of dollars in customer funds unrecovered.
His legal team is also pursuing a retrial, though a decision from the U.S. Court of Appeals is not expected until next year. Analysts say his chances of clemency are low, especially given his $5.2 million donation to Joe Biden’s 2020 campaign. Bankman-Fried’s parents are also reportedly advocating for him behind the scenes.
However, reflecting on his involvement in FTX’s collapse, Bankman-Fried said his “biggest mistake” was handing control of the exchange to John J. Ray III in November 2022.
He claimed that shortly after stepping down, he received a call about a potential investment that could have saved the company—but by then it was too late. He argued that if he had remained in charge, the funding might have prevented the bankruptcy.
Social media activity of SBF
In recent months, Bankman-Fried has become more active online, posting through a proxy to defend his record.
In September, his social media account briefly became active with a short “gm” (good morning) message and later shared a detailed 14-page document titled “FTX: Where Did the Money Go?”
The document, dated September 30, 2025, claims that FTX was never actually insolvent and that the collapse was caused by a temporary liquidity shortage and mismanagement by bankruptcy lawyers, not fraud. It says the company had enough assets to repay all customers, and roughly 98% of creditors have already received full repayment with interest.
Bankman-Fried continues to assert that the estate managing FTX’s bankruptcy is mismanaging or withholding funds. His recent comments about Hernández appear to be part of a broader effort to remain visible in political and legal discussions as he seeks clemency.
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