SBF Said to Plan New Coin After Prison, Files Trump Pardon Request
Summary
- SBF reportedly said he would issue a new digital asset after leaving prison and create his own coin.
- SBF said a real business would need $50 million to $100 million in seed capital.
- After SBF's presidential pardon request, the odds on Polymarket that he would receive a pardon rose to 14%%.
Forecast Trend Report by Period
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, reportedly said he could issue a new digital asset after leaving prison.
New York Magazine reported on June 16 that Bankman-Fried, who is serving a 25-year sentence, made the remark in a conversation with fellow inmate David Bunevacz. Asked about his plans after his release, Bankman-Fried said a "real business" would need $50 million to $100 million in seed capital. He added, "When I get out, I'll create my own coin, and everyone will flock to it."
Bunevacz said the comment may have been a joke. He added that people probably would not actually rush into the token, but said, "Who knows."
Separately, Bankman-Fried formally submitted a presidential pardon application to Donald Trump's administration on June 8, the magazine reported.
After news of the pardon request emerged, the odds of Bankman-Fried receiving a pardon on prediction market platform Polymarket rose to 14%, about double the previous level.
Bankman-Fried was charged over FTX's 2022 collapse on allegations including misuse of customer funds and fraud. A US court sentenced him to 25 years in prison last year.
