Sam Bankman Fried (SBF), presently serving a 25-year sentence on the Metropolitan Detention Heart in Brooklyn, publicly supported the Readability Act, a key a part of the crypto invoice pending in Congress.
On Wednesday, February 25, 2025, Sam Bankman Fried expressed his enthusiasm for the invoice to X, calling it a victory for the incoming administration. “The CLARITY Act is a significant milestone for cryptocurrencies and will probably be a significant accomplishment for @realDonaldTrump,” SBF wrote. He went on to assert that Gensler supported the same invoice to exempt cryptocurrencies from SEC Chairman Gary Gensler’s oversight earlier than “Biden’s Justice Division helped put me in jail.”
The unsolicited assist, delivered through social media on Wednesday, instantly drew sharp bipartisan condemnation from senior lawmakers, making it clear that the disgraced FTX founder’s affirmation was a political legal responsibility, not a fortune. Even from a jail cell, the SBF seems to retain a exceptional means to unite Republicans and Democrats, even when they’re hostile.
👀 New: Publicly Endorsed by Sam Bankman Freed #clarity Donald praised after being launched from jail, calling it a ‘large milestone for crypto’ #Trump. pic.twitter.com/pc0SowhqsD
— Coinpaper (@coinpapercom) February 27, 2026
Learn extra: The regulatory catalyst behind the Bitcoin supercycle
White Home confirms no plans to pardon Sam Bankman Fried
The White Home has acknowledged that it has no plans to pardon Sam Bankman Fried, suggesting that his assaults on social media could fall on deaf ears.
The response on Capitol Hill was swift and unified. Sen. Cynthia Lummis (R-Wyo.), a longtime advocate of clear cryptocurrency regulation and the lead sponsor of the market construction invoice, was fast to distance the Readability Act from Bankman Freed. In a direct response on X, Lummis stated, “My invoice couldn’t be extra totally different from the invoice you tried to steal from Congress over my objections in 2022. We do not want or need your assist.”
Lummis went additional, mentioning that beneath the stricter provisions of the Readability Act, Bankman-Freed’s crimes would doubtless end in a for much longer jail time period than the quarter-century sentence he’s presently serving. That sentiment echoed throughout the aisle. Sen. Elizabeth Warren (D-Mass.), a frequent critic of the crypto trade, took the chance to remind the general public of SBF’s monitor document. Warren described him as “Fraudsters stole at least $8 billion from customers” It bolstered her place that the trade wants strict guardrails to guard taxpayers and the monetary system.
In 2022, simply earlier than the FTX collapse, SBF was an lively promoter of the Digital Items Shopper Safety Act (DCCPA). Critics argued that his aggressive lobbying for the invoice favored FTX’s enterprise mannequin on the expense of its decentralized finance (DeFi) rivals, however revelations of his wrongdoing in the end undermined the invoice’s prospects. His present assist for transparency laws threatens to repeat historical past and add a dangerous legacy to new legislative efforts.
Uncover: How hyperliquid is shaping US crypto coverage
The Readability Act: What the SBF truly stands for.
The controversial invoice, formally referred to as the Digital Asset Market Transparency Act, goals to resolve one of many trade’s most persistent complications: the jurisdictional tug-of-war between the Securities and Change Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC). The invoice goals to supply the regulatory certainty that institutional buyers have lengthy demanded by establishing clear standards for classifying digital property as merchandise or securities.
Trade advocates say such readability is important for the subsequent section of market progress, however the invoice faces an advanced path by way of a divided Congress. The invoice has not too long ago gained momentum as a precedence for President-elect Donald Trump, who’s reportedly eager on passing laws to reform the cryptocurrency market. However the presence of faces cheering on the trade’s greatest fraud scandal from the sidelines complicates the story for sponsors who search to border the invoice as a client safety measure.
Ripple CEO Brad Garlinghouse not too long ago stated, 90% chance of passing by late Aprilunsolicited assist from a convicted felon supplies straightforward ammunition for opponents of the invoice. Lawmakers’ problem now could be to persuade their colleagues that the invoice is robust sufficient to manage the very people who find themselves sponsoring it.
Subsequent
Disclaimer: Coinspeaker is dedicated to offering honest and clear reporting. This text is meant to supply correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Market circumstances can change quickly, so we advocate that you just confirm the knowledge your self and seek the advice of an expert earlier than making any choices based mostly on this content material.
Daniel Frances is a technical author and Web3 educator specializing in macroeconomics and DeFi mechanisms. A crypto native since 2017, Daniel leverages his background in on-chain analytics to put in writing evidence-based experiences and detailed guides. He holds certifications from The Blockchain Council and is devoted to offering “data acquisition” that breaks by way of the market hype and finds real-world blockchain utility.
