Former FTX CEO Sam Bankman-Fried Adjusts to Prison Life

Former FTX CEO Sam Bankman-Fried Adjusts to Prison Life

Former FTX co-founder and CEO, Sam Bankman-Fried (SBF), is currently serving time at the Metropolitan Detention Center in Brooklyn. He shares a dormitory with former Honduran President Juan Orlando Hernández, who is awaiting trial for accepting bribes from drug traffickers, and Genaro García Luna, a former Mexican police chief convicted of aiding drug cartels. Despite the circumstances, SBF reportedly engages in cordial conversations with his fellow inmates.

Initially, SBF faced difficulties in accessing vegetarian meals and ADHD medication. However, these issues have since been resolved. He is now allowed non-attorney visitors once a week and has a special laptop to review legal documents, albeit only in a dedicated room. SBF has also been involved in the prison economy, trading mackerel packets for services.

In an interesting transition, SBF has become a mackerel trader, as mackerel, known as “macks,” has replaced traditional money within the prison. Despite inflationary pressures, a pouch of mackerel filets currently costs $1.30. The mack currency system is considered more stable than cryptocurrencies. Mackerel packets have become a prison currency since cigarettes were banned. Additionally, sources claim that SBF has provided cryptocurrency investment advice to prison guards.

After his sentencing on March 28, 2024, SBF is expected to be transferred to a federal prison, which is anticipated to offer better living conditions, educational and recreational resources, and a less violent prison population. Currently, SBF faces a maximum sentence of 115 years in prison, but experts predict he may serve 25 years or less. Despite the challenges, SBF is reportedly doing his best under the circumstances.


Author: CrimeDoor

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