FTX’s Frenzy: SBF Slams Gensler’s Secret Crypto Coup!

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Sam Bankman-Fried, now serving 25 years in a California federal prison, is still making headlines-this time with a side of conspiracy theories and a dash of sarcasm. His retrial request? Pushed back like a bad joke. But hey, who needs a trial when you’ve got a Twitter thread?

In a post on X, Bankman-Fried didn’t just credit the Trump administration for changing the SEC’s direction. He made a pointed allegation about what was happening behind closed doors under the previous chair. Spoiler: It involved more drama than a daytime soap.

Gensler’s Alleged Power Grab

“He and @SenWarren ran a covert campaign in DC to strip the CFTC of all of its power – bringing everything under his SEC,” Bankman-Fried wrote, adding that Gensler then “used that power to require licenses he was unwilling to grant.”

SBF called it the biggest threat to crypto during the Biden era and said his team spent significant time in Washington fighting it. Because nothing says “regulatory chaos” like a guy in prison arguing with a bureaucrat.

Whether you trust the messenger is a separate question, but the SEC-CFTC turf war over crypto jurisdiction was real and well-documented. Gensler consistently argued the SEC held broad authority over digital assets, a position the CFTC openly pushed back against throughout his tenure. Because nothing says “power struggle” like two agencies fighting over who gets to regulate Bitcoin.

Why He’s Crediting Trump

The post opens bluntly: “How @realDonaldTrump fixed the SEC: fire Gensler, hire Atkins.”

Under Donald Trump-nominated Paul Atkins, the regulatory posture has shifted noticeably. Where Gensler leaned on enforcement as his primary tool, Atkins has committed publicly to building an actual licensing framework for crypto rather than prosecuting around the absence of one. Because nothing says “progress” like a guy who’s not afraid to admit they’re clueless.

Still Waiting on the Judge

A day before this post went up, federal prosecutors filed their formal opposition to SBF’s retrial request, describing his arguments as “incoherent” and “fanciful.” Judge Lewis Kaplan has yet to rule. His Second Circuit appeal also remains pending, Caroline Ellison has already been released, and the White House has ruled out a pardon.

The man giving Trump credit for fixing crypto regulation is still a long way from any exit.

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2026-03-12 16:07