Sam Bankman-Fried is planning to launch a cryptocurrency after prison, seeking significant funds and reshaping his public image.
Sam Bankman-Fried, the former CEO of FTX, is reportedly contemplating the launch of his own cryptocurrency following his anticipated release from prison. This information comes from New York Magazine, which cites discussions with fellow inmates and acquaintances.
In a conversation with ex-inmate David Boonivatz, Bankman-Fried expressed that generating significant revenue would require an investment of between $50 million and $100 million, hinting at a new cryptocurrency initiative that he believes will attract substantial interest.
"He might have been joking, and probably no one will flock to him. But who knows?" Boonivatz remarked.
Bankman-Fried, who is currently serving a 25-year sentence, has completed two years so far. He is reportedly taking medication for clinical depression and ADHD and is working on a memoir titled "Manfred." His family is actively pursuing options for an early release or a sentence reduction.
However, a recent request by Bankman-Fried to have the appellate court review his trial was denied on June 12. Furthermore, he has appealed to former President Donald Trump for a presidential pardon, with his parents hiring Republican consultants to assist in lobbying for his release.
As part of his efforts to reshape his public image, Bankman-Fried has attempted to present himself as a supporter of Trump. In 2025, he orchestrated an unauthorized interview with Tucker Carlson while incarcerated, resulting in a brief period in solitary confinement. Subsequently, he resumed his presence on X through his father, Joseph Bankman, sharing pro-Trump sentiments and portraying himself as a victim of the Biden administration's cryptocurrency policies.
His mother, Barbara Fried, is also advocating for his release, although she has been ordered by the judge to limit her communications with his office. There are allegations that Bankman-Fried sent motions from prison that were delivered from a location near his mother's residence.
Interestingly, at the end of October 2025, Bankman-Fried claimed that FTX was solvent at the time of its collapse, asserting that its assets amounted to $25 billion against liabilities of $13 billion.
