New York Magazine has reported new details about Sam Bankman-Fried’s life in prison, including a remark that he may launch a new cryptocurrency after leaving custody.
Bankman-Fried, the founder of FTX, is serving a 25-year sentence after his 2023 fraud and conspiracy conviction. The report says he remains at a federal prison in Lompoc, California, while he pursues legal and political routes to freedom.
Prison report revives token talk
The article says fellow inmate David Bunevacz asked Bankman-Fried what he would do if he got out. Bankman-Fried reportedly said a serious business would need $50 million to $100 million in starting capital before adding that he would “start my own coin.”
Bunevacz told the magazine that Bankman-Fried also said “everyone’s gonna jump on it.” He later added that Bankman-Fried may have been joking and that people probably would not rush to buy it. The remark still drew attention because FTX’s collapse remains one of crypto’s most watched criminal cases.
Sam Bankman-Fried says his biggest regret isn’t starting FTX, or getting into effective altruism, or committing any of the transgressions he was accused of but relinquishing control of FTX shortly after its collapse. “I was really weak in that moment, and part of me knew I should…
— New York Magazine (@NYMag) June 16, 2026
Meanwhile, the report also said Bankman-Fried filed a formal presidential pardon bid with the Trump administration on June 8. New York Magazine said Polymarket odds on a pardon before 2027 doubled to about 14% after the news.
As previously reported by crypto.news, Bankman-Fried filed a formal pardon application while continuing to challenge his conviction and 25-year sentence. The same report said Trump had earlier told The New York Times that he did not plan to pardon him.
Appeal loss narrows legal path
Bankman-Fried’s position became harder after a U.S. appeals court upheld his fraud conviction and sentence. As crypto.news reported earlier, a three-judge panel rejected his challenge and said the evidence supported the jury’s findings.
The former FTX chief had argued that key evidence was wrongly excluded from his trial. The appeals court rejected that argument. Bankman-Fried may still seek further review, but the ruling left the pardon request as one of his clearest remaining routes.
His separate push for a new trial also faced setbacks. He withdrew a Rule 33 motion in April while keeping a request for a different judge. That left his legal campaign split between appeals, court filings, and clemency efforts.
FTX fallout still shapes the response
The New York Magazine profile also described Bankman-Fried’s prison routine. It said he takes medication for clinical depression and ADHD, follows a vegan diet, and has been writing a serialized prison memoir titled Manfred.
Those details come as Bankman-Fried continues to maintain his innocence in public comments and filings. Prosecutors argued at trial that he diverted billions of dollars in customer funds from FTX to Alameda Research. A jury convicted him on seven criminal counts.
Bankman-Fried has also tried to re-enter crypto policy discussions from prison. In February, senators criticized him after he praised the CLARITY Act and credited Trump, saying lawmakers did not want his support at all.
The broader FTX case remains active in civil and bankruptcy matters. Former customers continue to follow creditor repayments, while other legal claims tied to the exchange and its advisers remain in the courts.
Bankman-Fried’s possible token comment adds a new layer to the public debate over his future. For now, it remains a reported prison exchange, not a business plan. His release still depends on the legal process, a pardon decision, or later changes to his sentence.
