SBF is preparing a crypto comeback: launching his own coin after prison and ambitions for $100 million
While serving a 25-year sentence, FTX founder Sam Bankman-Fried (SBF) is not wasting time. According to my data, behind bars he is not only taking medication for depression and ADHD but also writing memoirs under the pseudonym Manfred. However, the most intriguing part is his plans for life after release.
In a conversation with fellow inmate David Bunevacz, SBF outlined a highly ambitious strategy. He stated that to make serious money, he would need startup capital ranging from $50 to $100 million. And with that money, he intends to build a real business.
His Own Coin: A Joke or a Real Threat?
When directly asked about his plans after being released, Bankman-Fried replied that he would "launch his own coin" and that "everyone will flock to it." His interlocutor was skeptical, suggesting that SBF might have been joking. However, as Bunevacz rightly noted, it's impossible to say for sure.
This episode vividly illustrates that even behind bars, Bankman-Fried's thinking revolves around cryptocurrency launches and large sums of capital. At the same time, his words come against the backdrop of a completely ruined reputation: the collapse of FTX in November 2022 became one of the largest financial frauds in U.S. history.
Pardon Petition and Market Bets
A little over a week ago, on June 8, SBF officially filed a pardon petition with the administration of Donald Trump. This involves a "pardon after serving the sentence" format—it does not imply early release but could restore certain civil rights after the full term is completed.
Following this news, the probability of a pardon on the prediction market Polymarket doubled—to 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 in the crypto industry.
My analysis: SBF's idea of launching a new coin looks like an attempt to repeat an old scenario, but in the current market realities and with his reputation, it is practically unfeasible. Even if he finds startup capital, investor trust will be zero. Most likely, this is just bravado from a man who cannot come to terms with the collapse of his empire. The market has long since delivered its verdict, and a "new coin" from SBF is nothing more than a meme that hardly anyone will take seriously.