Two years later, SBF tweeted again about his experience of firing employees. He wrote that firing employees is a very difficult and unpleasant thing, but it is often due to company management problems that employees have to be fired. Keeping employees in the company has no value and is a waste. SBFs talk about firing also reminds people of the recent crazy layoffs by the US government.
The market resumed the expectation that SBF would be pardoned, and FTT briefly broke through $2.2 and is now quoted at $2.05, a 24-hour increase of 11.8%.
SBF changes political orientation, clearly stands with Trump to seek pardon
It all started after Trump took office.
On January 22, Trump posted on his social media Truth Social that he had pardoned the founder of Silk Road. Just called the mother of Ross William Ulbricht, the founder of Silk Road, and told her that I was honored to have just signed a full and unconditional pardon for her son Ross.
At the end of the month, an insider revealed that SBFs parents, Stanford Law School professors Joseph Bankman and Barbara Fried, had recently met with lawyers and other people in Trumps circle to try to seek a pardon for SBF from Trump, but it is not clear whether they have contacted the White House.
On February 18, like many people inside and outside the crypto industry who hope to gain political points in Trump’s second term, SBF unabashedly “sided” with Trump in an interview with The New York Sun: “I’ve spent a lot of time researching crypto policy and am very frustrated and disappointed with what I’ve seen and heard from the Biden administration and the Democratic Party. The Biden administration is extremely destructive and difficult to work with. Frankly speaking, the Republicans are much more reasonable.”
SBF hinted that his rightward drift began in 2022 because he and Trump have a common enemy, Lewis Kaplan, the judge who presided over the FTX fraud case and Trumps federal defamation trial.
In 2020, SBF was the second largest donor to Bidens campaign, but SBF now says: I considered myself to be center-left at the time, but now I no longer see myself that way. The atmosphere in the technology industry has changed, and once outspoken Democrats such as Mark Zuckerberg and Marc Andreessen now support Trump.
What does SBF intend to do by getting closer to DOGE?
In SBFs comeback tweet, he expressed the core point that firing employees is one of the most difficult things in the world, which reminds people of Trumps Department of Government Efficiency (DOGE), which has done the most after taking office, which is to fire government officials. Even the prosecutor in the SBF case resigned because of new officials taking office with three fires, because the Department of Justice asked her to suspend the corruption investigation into New York Mayor Eric Adams.
According to The Washington Post, three weeks into Trumps second term, a series of actions by him and his adviser Musk have sparked widespread controversy. Musks U.S. Government Efficiency Department has intervened in 18 federal agencies, terminated 199 federal contracts, and attempted to fire tens of thousands of federal workers.
On February 16, local time on the 15th, the Department of Government Efficiency (DOGE) led by Elon Musk sent layoff notices to more than a dozen staff members of the United States Digital Service. The office is an information technology (IT) department of the Executive Office of the President of the United States, which is now taken over by the Department of Government Efficiency (DOGE).
Even the SEC has to make changes. On February 25, according to two people familiar with the matter, the U.S. Securities and Exchange Commission (SEC) plans to replace senior leaders of regional offices across the country as part of its cost-cutting proposal to the Trump administration.
The SEC, which oversees more than $100 trillion in U.S. capital markets and is under pressure from President Donald Trump to shed staff and cut costs, told the directors of its 10 regional offices on Friday that their positions would be eliminated under plans to be submitted next month, sources said.
SBFs long and earnest tweet hit the mark.
Attached is the full translation of SBFs tweet
I sympathize with government workers: I myself haven’t checked my email in hundreds of days, and I can confirm that unemployment is harder than it looks.
Firing an employee is one of the hardest things in the world and it sucks for everyone involved.
My experience is:
a) It is usually not an employees fault when they are fired.
b) But usually, firing them is still the right decision.
A more common problem is that the company simply doesnt have the right position for them.
I would tell everyone who gets fired: its also our fault because we didnt find the right job for them, or the right people to manage them, or provide them with the right working environment.
Maybe we don’t have the right people to manage them at the time. Maybe they work best remotely, but our company is primarily in-person. Maybe they want to work on a specific project, but that project is not what the company needs.
Or theres something wrong with the department theyre in. This happens all the time. Weve seen it happen with a competitor where they hired 30,000 extra people and had no idea what to do with them - and the whole team just sat there every day doing nothing.
We’ve seen this happen internally, too, when one manager gets busy or distracted, and half of an entire department loses direction all at once. When this happens, it’s not the employee’s fault. It’s not their fault if their employer doesn’t know how to employ them, or doesn’t have the right people to manage them effectively. It’s not their fault if internal politics cause the department to lose direction. But it doesn’t make sense to keep them around and do nothing.
