SBF Says He Could Launch a New Coin After Prison as Lost Investments Reach Billions
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Sam Bankman-Fried, convicted in 2023 and serving a 25-year sentence, reportedly told a fellow inmate he could launch a new crypto token after prison and claimed investors would rush to buy it. He said he would need $50 million to $100 million in seed fundraising, but credibility concerns, regulatory scrutiny and the FTX collapse that left billions lost mean any token launch faces high security, adoption and market-risk obstacles.
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- Sam Bankman-Fried reportedly said he may launch a new token after prison.
- The disgraced crypto entrepreneur believes that investors would support it.
- SBF needs $50 million to $100 million to build a serious business, as per a fellow inmate.
Sam Bankman-Fried, the founder of FTX, said he could launch a new cryptocurrency after leaving prison.
Bankman-Fried, now 34, is serving a 25-year sentence after his 2023 conviction on fraud and conspiracy charges. He remains in a federal prison in Lompoc, California.
Fellow inmate David Bunevacz said Bankman-Fried spoke about needing between $50 million and $100 million in starting capital to build a serious company. During one conversation, he reportedly said he would create his own token after release and claimed people would rush to buy it.
Bunevacz later said the remark may have been a joke and added that investors wo…
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