Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, recently spoke to the media for the first time since his imprisonment for fraud. Maintaining his innocence, he is currently serving a 25-year sentence and is pursuing an appeal. While behind bars at Brooklyn’s Metropolitan Detention Center, Bankman-Fried has turned his attention to commodities trading, specifically focusing on bags of rice as a form of currency within the prison walls. The interview, facilitated by Bankman-Fried’s mother and conducted by journalist Theodore Schleifer, provided insights into his life behind bars and his perspective on the FTX collapse.
Life inside the Metropolitan Detention Center has brought about various challenges for Sam Bankman-Fried. His vegan diet is not popular among fellow inmates, leading him to rely on beans and rice as a staple food. Bankman-Fried currently shares a dormitory-style prison area with 35 other male prisoners, half of whom have been convicted of murder. Despite the challenging environment, he appears to have adapted to prison life, maintaining consistent eye contact and showing a different demeanor compared to his pre-prison days. The former FTX CEO has also lost weight and appears less restless, according to reports from the interview conducted by Puck News.
In the interview, Sam Bankman-Fried expressed his belief that he has been unfairly blamed for the collapse of FTX. He attributed the company’s downfall to negligence that created conditions for a bank run, along with actions by competitors. Bankman-Fried stated that he feels a civil penalty would have been more appropriate than a criminal one. Despite being convicted of assisting in the misappropriation of $8 billion in customer funds, he showed little remorse. Additionally, he mentioned regret for not appointing a different leader for Alameda Research due to a conflict of interest with his role at FTX.
While awaiting a potentially lengthy transfer process, which could take up to four months, Sam Bankman-Fried has requested relocation to a facility closer to his parents. The former FTX CEO continues to maintain his innocence and is determined to pursue an appeal against his sentence. He has shifted his focus to commodities trading within the prison walls, specifically dealing with bags of rice as a form of currency. Despite the challenging circumstances, Bankman-Fried appears to be adapting to life behind bars at the Metropolitan Detention Center, surrounded by a diverse group of inmates.
