Disgraced FTX founder Sam Bankman-Fried is reportedly considering launching his own cryptocurrency upon release from prison, according to accounts from a former inmate who shared details of their conversations. Bankman-Fried, serving a 25-year sentence for fraud following the 2022 collapse of FTX, allegedly told fellow prisoner David Bunevacz that he would need $50-100 million in startup capital to create a new coin, claiming “everyone’s gonna jump on it.”
The remarks, reported on June 17, 2026, come shortly after Bankman-Fried lost his appeal against his conviction and sentence on June 12. He is currently held at FCI Lompoc in California, where he reportedly spends time playing pickleball, eating vegan meals, and working on a humorous memoir. Bunevacz described the crypto discussion as potentially half-joking but reflective of Bankman-Fried’s continued focus on the industry that made him a billionaire before the FTX scandal.
Any post-release crypto venture would face enormous legal and regulatory hurdles. Bankman-Fried is barred from the industry under his sentencing terms, and any new project would likely attract intense scrutiny from the SEC and other regulators. Victims of the FTX collapse, who lost billions, have strongly opposed any early release or clemency efforts, including Bankman-Fried’s recent pardon application to the Trump administration.
The report has drawn sharp criticism online, with many viewing it as evidence that Bankman-Fried remains unchanged despite his conviction. Crypto industry figures have distanced themselves, warning that any association could damage the sector’s reputation as it seeks clearer regulation through bills like the CLARITY Act. While Bankman-Fried’s earliest possible release remains years away, the story underscores his enduring, if controversial, presence in public discourse.