Sam Bankman-Fried Eyes New Crypto Token After Prison

Sam Bankman-Fried told a fellow inmate he plans to launch a new crypto token after his release. Inmate David Bunevacz recounted that Bankman-Fried said “people would flock to it.”

Bankman-Fried, 34, was convicted in 2023 on seven counts of fraud and conspiracy in connection with the roughly $11 billion collapse of FTX and trading firm Alameda Research. He was sentenced to 25 years in prison.

A judge denied a bid for a new trial in April 2026, rejecting fresh-evidence claims. His direct appeal is pending before the U.S. Court of Appeals for the Second Circuit. His legal team filed a presidential pardon application earlier this month. President Donald Trump has previously declined to grant clemency.

Absent a successful appeal or a pardon, Bankman-Fried’s release is not expected before about 2044. He is barred from the cryptocurrency industry and controls no assets he can legally deploy to fund a token launch. Legal settlements tied to FTX’s collapse remain active, including a $54 million settlement by a law firm over related claims.

Market reaction has been volatile around developments in the case: the defunct exchange’s token, FTT, rose roughly 50% after the pardon filing earlier this month. Tokens linked to high-profile figures have moved sharply on short-term interest and speculation.

Bunevacz also recounted that Bankman-Fried spoke frequently about needing tens of millions of dollars to build a business after release. Any attempt to launch a token associated with him would face legal limits and public scrutiny and would depend on the outcome of his pending appeals and clemency request.