New York Magazine has revealed new details about the prison life of FTX founder Sam Bankman-Fried (SBF), who is serving a 25-year sentence. According to the publication, the 34-year-old entrepreneur takes «Adderall» daily for clinical depression and attention deficit disorder, and is also writing a prison memoir titled Manfred.

He revealed his plans for life after release in a conversation with his cellmate David Bunevacz. According to him, to make serious money one needs starting capital of $50–100 million in order to build a real business.

Want more exclusive news and analysis? Subscribe to our Telegram channel, discuss the news and share your views on the latest market developments in the chat!

What SBF said about his own coin

Answering a question about his plans after getting out, Bankman-Fried stated that he would «launch his own coin» and that «everyone will flock to it». Bunevacz himself was skeptical about this, noting that SBF was perhaps joking. In his words, «most likely no one will flock to the coin, but you can't say for sure».

The episode illustrates that even behind bars Bankman-Fried continues to think in terms of cryptocurrency launches and large capital. At the same time, his words come against the backdrop of a completely ruined reputation: the collapse of FTX in November 2022 became one of the largest financial frauds in US history.

A clemency request and the market's odds

A little over a week ago, on June 8, Bankman-Fried officially filed a clemency request with Donald Trump's administration. He requested a «pardon after serving the sentence» — this format does not provide for early release, but can restore certain civil rights after the full term is completed.

After the news of the request, the probability of a pardon on the Polymarket prediction market, according to New York Magazine, doubled to 14%. The odds, however, remain low: Trump publicly refused to pardon Bankman-Fried, citing the scale of the FTX fraud, although he had previously pardoned a number of other figures in the crypto industry.

Source: BeInCrypto