Press the saute function on the instant pot and add some oil.
Add the bacon to the instant pot and cook until crisp on both sides. Remove the bacon and set aside.
Add the onions to the instant pot and cook for 2 minutes or until translucent. Stir in the red crushed pepper and garlic and cook until fragrant.
Press the cancel function and add the remaining ingredients. Place the lid on the instant pot and press the pressure cook function. Cook for 4 minutes and release the steam before opening the lid.
Check for seasoning and add the bacon. Serve warm and enjoy!