The CEO of the bankrupt FTX Exchange is reportedly preparing for the long-awaited sentencing scheduled for March 28th.
Insider sources revealed that Bankman-Fried recently traded a mackerel fish for a haircut as prison policies intensified.
The ex-CEO of the bankrupt Cryptocurrency exchange FTX seems to be managing well behind bars. Despite the restrictions imposed on his freedom, the former FTX boss is applying tact to his position at this time.
According to a recent report from the Wall Street Journal, Fried is taking steps necessary to aid his comfort behind bars. Notably, the detention center has scrapped pit cigarette smoking, which has since been replaced with mackerel.
Following the recent development, Bankman-Fried has reportedly traded some of his mackerel for a haircut. The information was shared by an insider source, WSJ added, noting that prisoners could previously clear their debts by trading cigarettes for goods and services.
Locked up in Brooklyn’s Metropolitan Detention Center, Bankman-Fried is awaiting sentencing for his numerous fraudulent crimes. As he prepares for even tougher times ahead, he secured a haircut, mirroring the moptop hairstyle he is most known for.
It bears mentioning that Bankman-Fried is not the only prominent figure at the detention center. He shared a dormitory with a former Honduran president. Juan Orlando Hernandez, the former president of Honduras was Indicted on Drug-Trafficking and Firearms Charges back in 2022. He was later extradited to the United States and now shared a dormitory with Bankman-Fried.
Prison Consultant Weighs in on Bankman-Fried’s Current Situation
After being convicted of several counts of criminal charges, Bankman-Fried was sent to jail immediately after the federal Judge revoked his bail back in August.
The Judge reportedly found that Fried was allegedly threatening witnesses. Meanwhile, Fried denied these claims. The former crypto exchange boss is scheduled to be sentenced to prison on the 28th of March. He will be moved from his current location at the detention center to a federal prison to serve his sentence.
The months ahead will be even tougher than they already are for Bankman-Fried who can no longer access some of his luxury properties. Before his arrest, he lived in a Bahamas-based penthouse apartment worth $30 million.
Although his current living conditions fail in comparison to his previously owned mansion, a prison consultant is convinced that a federal prison will present its perks.
Bill Baroni, the prison consultant, explains that Bankman-Fried will enjoy way more freedom than he currently does at the detention facility. In addition to this, he will be able to access education and possible reform. He further reckons that the federal prison is much safer than the detention center.
