Sam Bankman-Fried (SBF) revealed that rice has been transformed into a medium of exchange in prison.
Despite his damaged reputation, the FTX founder said he has not been mistreated in prison and does not feel his safety is threatened. But he is annoyed by the questions he gets asked every night about the bags of rice they plan to exchange.
This is the first detailed interview Sam Bankman-Fried has given since his imprisonment.
How SBF survived in prison: beans, rice, and the monetary system
Sam Bankman-Fried, the founder of FTX and co-founder of Alameda Research, was convicted in November of wire fraud, money laundering, and conspiracy and is currently serving his sentence at the Metropolitan Detention Center (MDC) in Brooklyn, where he developed a new currency trading system.
In an interview with William D Cohan of Puck News arranged by his mother, Barbara Fried, the former CEO of FTX cryptocurrency exchange platform revealed to Puck News magazine that he survived in prison by relying on beans and bags of rice purchased from the prison store, which had become a form of currency inside the prison.
Cohan was not allowed to use pen, paper, tape recorder, telephone, or watch during the interviews, so his observations were recorded after the interviews were completed.
Cohan estimated that SBF had lost about 25 pounds and appeared to be in better shape, which could be attributed in part to the vegetarian food he complained was of such poor quality that he could not eat it and that his fellow inmates described as smelling bad.
Adhere to the Appeal Plan
The convicted felon maintained his innocence while discussing his life in federal prison and expressed plans to appeal his conviction. SBF revealed to William D Cohan that he believes he was made a scapegoat in the FTX collapse. He blamed the company's collapse on management negligence that made FTX more vulnerable to problems such as bank runs and adverse influence from competitors.
SBF insisted that civil rather than criminal penalties should be imposed for the allegations that he mishandled $8 billion in client funds. Cohan also observed that even after being found guilty, SBF still steadfastly denied any criminal wrongdoing and maintained his innocence. SBF also said that he believed he was not given the opportunity to fully communicate and consult with prosecutors.
In the FTX collapse incident, Sam Bankman-Fried (SBF) did not express remorse, but instead put the blame on the legal team that took over FTX. He believed that these lawyers were responsible for the company's ultimate collapse. #SBF #狱中生活
