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An American prisoner wants to launch a $100 million cryptocurrency startup

FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for one of the largest financial frauds in history, is making ambitious plans for life after his release. He told his cellmate that he would need $50 million to $100 million in seed capital to “make serious money,” and mentioned a cryptocurrency project that “everyone will flock to.” At the same time, he appealed to Donald Trump for a presidential pardon, and his parents hired lobbyists.
Igor Fomin Igor Fomin Reading time: 1 minute
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Sam Bankman-Fried

Sam Bankman-Fried

The community has once again turned its attention to FTX’s venture capital investments (stake in SpaceX, Anthropic, and Solana, worth a total of $114 billion), which the bankruptcy trustees sold for a sum tens of times smaller, according to forklog.com.

And yet most commentators agree: while Sam may be a brilliant investor, he did things that were completely unacceptable, illegally misusing client funds. Therefore, even if he wasn’t joking about the future crypto project, it’s hard to imagine him ever regaining people’s trust.


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