Sam Bankman-Fried Praises TrumpRx, Calls Out Insurance Giants

Sam Bankman-Fried, the former CEO of FTX, reemerged publicly on February 23 with a post on X praising the Trump administration’s new drug-pricing platform, TrumpRx. He claimed drug companies are ripping Americans off and called the platform a “huge step in the right direction.”

Bankman-Fried also pushed for insurance companies to get on board so people don’t have to pick between cheaper meds and keeping their coverage.

TrumpRx is a government-run website that launched on February 5. It connects patients directly with drug companies offering discounted meds, with no insurance or middlemen required. The site doesn’t sell anything itself, simply providing coupons or links to buy straight from the manufacturer.

When it launched, TrumpRx listed around 40 brand-name drugs, including meds from Pfizer and AstraZeneca. Some of the discounts were sizable, between 50% and 85% off typical US prices.

However, the discounts only apply if you pay cash. You can’t use them with insurance, and they don’t count toward your deductible, so for a lot of insured people, the savings aren’t so simple to access.

Critics say TrumpRx is more of a coupon site than a real healthcare fix. Some point out that generics for the same meds are often cheaper elsewhere, while others question whether it actually changes anything about how drug pricing works in the US.

A Play for a Pardon?

As for Sam Bankman-Fried, his comments stand out because he is currently in prison serving 25 years for fraud tied to FTX’s collapse. The former CEO’s recent posts (usually shared through others) focus on pushing back against his conviction, calling for a new trial, and trying to rewrite the narrative around his role in crypto.

His praise for TrumpRx also kicked off a wave of online speculation, with some suggesting it’s part of a play to cozy up to the Trump administration, especially since a presidential pardon is one of the few legal cards left on the table after his conviction.

A few weeks ago, Bankman-Fried also claimed the exchange was always solvent and that FTX was never bankrupt. He called his prosecution political, blaming the Biden administration.

Related: SBF Challenges FTX Bankruptcy, Claims The Exchange Was Always Solvent