SBF Says He’d Create New Coin After Prison, Files Trump Pardon Request

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, said he may issue a new digital asset after leaving prison, New York Magazine reported.

In a June 16 report, the magazine said Bankman-Fried, who is serving a 25-year prison sentence, made the remark in a conversation with fellow inmate David Bunevacz when asked about his plans after his release. “If I want to do a real business, I’d need $50 million to $100 million in seed capital,” he said. “When I get out, I’ll make my own coin, and everyone will pile into it.”

Bunevacz said the comment may have been a joke. He added that he does not think people would actually rush in, though “who knows.”

Separately, Bankman-Fried formally submitted an application for a presidential pardon to the Trump administration on June 8, according to the report.

After news of the filing emerged, the odds of Bankman-Fried receiving a pardon on prediction market platform Polymarket doubled to 14%.

Bankman-Fried was charged in connection with the 2022 collapse of FTX over allegations including misuse of customer funds and fraud. A US court sentenced him to 25 years in prison last year.