SBF plans to launch his own cryptocurrency after release: ambitions behind bars
The founder of the collapsed FTX empire, Sam Bankman-Fried (SBF), who is serving a 25-year sentence, is not wasting time and is making plans for a cryptocurrency future. According to fresh information, the 34-year-old entrepreneur, while incarcerated, is already discussing launching his own digital asset after his release.
In a conversation with cellmate David Bunevacz, SBF stated that he intends to "launch his own coin" and that "everyone will flock to it." To achieve this ambitious goal, he said, he would need startup capital of between $50 and $100 million. Bunevacz, however, was skeptical of these words, noting that it was most likely a joke, although he did not rule out that SBF might try to bring the idea to life.
This news is particularly interesting against the backdrop of the complete collapse of Bankman-Fried's reputation. The collapse of FTX in November 2022 was one of the largest financial frauds in US history, and trust in his person on the market is close to zero. Nevertheless, the very fact that even behind bars, SBF continues to think in terms of cryptocurrency launches and large capital speaks volumes.
Pardon and Market Expectations
It is worth noting that on June 8, SBF officially filed a pardon request with the administration of Donald Trump. This refers to a so-called "post-sentence pardon," which does not imply early release but could restore certain civil rights after the full sentence is served.
Interestingly, after this news, the probability of a pardon on the Polymarket prediction platform doubled, reaching 14%. However, the chances remain low: Trump has publicly refused to pardon Bankman-Fried, citing the scale of the FTX fraud, although he has previously pardoned a number of other figures from the crypto industry.
Cryptalist Analysis: SBF's statements about launching his own coin look more like an attempt to save face and attract attention rather than a realistic business plan. The market will never forgive him for the collapse of FTX, and any project associated with his name will be viewed with extreme distrust. Even if he finds startup capital, restoring community trust is a task that no billion dollars can handle. This is pure pipe dreaming, detached from market reality.