TLDR
- Sam Bankman-Fried claims prosecutors blocked evidence he says would have supported FTX’s solvency
- The court ruled asset recovery irrelevant, keeping solvency arguments out of the jury’s review.
- SBF accuses the DOJ under Joe Biden of political bias tied to crypto and donations.
- Former FTX counsel disputes solvency claims, citing major asset shortfalls at the time of bankruptcy.
- Pro-Donald Trump rhetoric sparks pardon speculation amid ongoing appeal.
Sam Bankman-Fried’s lawfare claims returned to public view this week as the former FTX chief executive, now serving a federal prison sentence, accused U.S. prosecutors and the Biden administration of politically motivated conduct that he says shaped his criminal conviction. In a series of statements published on X through an intermediary, Bankman-Fried argued that key evidence was withheld from jurors and that his trial reflected broader hostility toward cryptocurrency figures.
Claims of Withheld Evidence and Solvency
In the posts, Bankman-Fried reiterated his assertion that FTX remained solvent at the time of its failure. He claimed prosecutors blocked him from presenting documents that, in his view, would have supported that position. He also alleged that a lengthy internal memorandum prepared by a federal prosecutor was excluded from the trial record.
The court overseeing the case previously ruled that the potential future recovery of assets was not relevant to determining whether fraud occurred. As a result, the jury did not consider arguments centered on eventual solvency.
Prosecutorial Conduct Under Scrutiny
Bankman-Fried accused the Department of Justice under President Joe Biden. He claimed they selectively targeted him due to his prominence in the crypto sector. He also said his shift in political donations contributed to the heightened scrutiny. His opposition to former SEC Chair Gary Gensler added to this scrutiny.
The former executive alleged misconduct in the prosecution of Ryan Salame, an ex-FTX executive. He also referenced charges against Salame’s partner, Michelle Bond. Federal prosecutors denied the claims of improper threats during plea negotiations. These denials were placed on the public record.
Response From Former FTX Officials
Other former FTX figures have disputed Bankman-Fried’s version of events. Ryne Miller, who served as general counsel, previously stated that available assets at the time of bankruptcy fell far short of liabilities.
He also testified that internal records did not support claims of full solvency during the company’s final days. Following this, Bankman-Fried’s recent statements have drawn attention for their favorable references to Donald Trump and criticism of federal law enforcement.
Observers have noted that prediction markets briefly reflected higher odds of a potential presidential pardon around the time of his appeal hearings in late 2025, although no official indication of such action has emerged.
