SBF's Cellblock Endorsement: Senators Politely Ask the Inmate to Stop Helping

From his new federal accommodations, former FTX CEO Sam Bankman-Fried (SBF) has decided to weigh in on policy, endorsing the Clarity Act crypto bill. His glowing review, posted on X via what we can only assume is a very dedicated visitor, was met with a swift and unified "thanks, but no thanks" from two U.S. Senators faster than a rug pull on a new chain.

SBF, never one for subtlety, called the bill a "huge milestone for crypto and a huge achievement" for former President Donald Trump. He claimed he was "championing a similar bill" before SEC Chair Gary Gensler "helped Biden's DOJ put me behind bars," a classic move of blaming the regulator for your own multi-billion dollar oopsie, referencing his 2022 push for the DCCPA.

Senator Cynthia Lummis (R-WY), a crypto advocate actually trying to write laws, didn't just reject the endorsement—she vaporized it. "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 posted on X. She pointed out her bill is nothing like the one SBF "tried to buy from Congress" in 2022, ending with the diplomatic equivalent of a door slam: "We do not need—nor want—your support."

Senator Elizabeth Warren (D-MA), a crypto skeptic, found rare bipartisan agreement. She stated SBF's thumbs-up "should set off alarm bells," labeling him a "fraudster who stole at least $8 billion from customers." She stressed that any real legislation must protect investors and taxpayers, not the guys currently modeling orange jumpsuits.

The Clarity Act, which passed the House, aims to sort out the SEC vs. CFTC jurisdictional cage match for crypto. Its path in the Senate, however, is currently bogged down in debates over stablecoin yield and potential awkwardness involving Trump family crypto ventures, because of course it is.

This whole episode is just the latest in SBF's transparent "Pro-Trump Posting for Pardon" campaign from the big house. He was convicted in 2023 on seven fraud and conspiracy counts and sentenced to 25 years in 2024. A New York Times report suggests Trump has already ruled out pardoning him, which is a real shame for that long-term lobbying strategy.

Over on prediction market Polymarket, the odds of the Clarity Act being signed into law by year-end have dipped about 16% in the past week, now sitting at 69%. Apparently, getting endorsed by a convicted felon isn't the bullish signal the market was looking for.