SBF reportedly discussed launching a new cryptocurrency after prison. The report also reveals details about his pardon request, prison life, and billion-dollar investments linked to FTX.
Sam Bankman-Fried (SBF) may be behind bars, but he apparently has not stopped thinking about crypto.
A recent report from New York Magazine reveals that the former FTX CEO has been discussing life after prison, including the possibility of launching a new cryptocurrency. The comments have quickly attracted attention across the crypto community, especially given SBF’s role in one of the industry's biggest scandals.
According to the report, SBF was asked by fellow inmate David Bunevacz what he planned to do after getting out of prison.
He reportedly replied that building a serious company would require between $50 million and $100 million in funding. He then added that he would simply “start my own coin” and claimed that “everyone’s gonna jump on it.”
Bunevacz later said the comment was just a joke and admitted there is no guarantee investors would support such a project. Still, the remark quickly spread online because it shows SBF is still talking about crypto despite the collapse of FTX.
At this stage, there is no confirmed token project. The report only describes a conversation about what he might do after his release.
Based on the reports, he takes medication for ADHD and depression, spends much of his time writing a prison memoir called Manfred, and follows a vegetarian diet. Rather than eating regular prison meals, he reportedly buys food from the commissary and cooks for himself.
Notably, he purchased a prison tablet and has played the same game thousands of times during his sentence.
The report comes shortly after news that SBF filed a formal presidential pardon request on June 8.
The application was submitted to the Department of Justice's Office of the Pardon Attorney. After the news became public, prediction market Polymarket showed its pardon odds climbing to around 14%.
The filing has once again put him back in the spotlight, even as he continues serving his 25-year sentence.
Reports showed that FTT, the token once tied to FTX, jumped after news of the pardon request surfaced, despite the exchange no longer existing in its previous form.
Having said that, the report has also opened doors for several investments made through FTX and Alameda Research before the company’s collapse.
Investor Alex Finn recently noted that some of the firm’s most successful bets. One of the biggest was AI company Anthropic. FTX invested about $500 million in the company in 2021. The stake was later sold during bankruptcy proceedings for roughly $1.3 billion, but based on current valuations, it could now be worth close to $80 billion.
FTX also held a large stake in Robinhood that is estimated to be worth around $5 billion today.
Other investments included exposure to SpaceX and AI startup Cursor, which recently drew attention following reports of a major acquisition deal.
So, what if SBF launches a coin? Will crypto investors trust him again? We have to wait and wait, what comes next?
No comments yet
Be the first to share your take when accounts launch.
