The co-founder of FTX, Sam Bankman-Fried, is currently serving his time in prison. He has over 20 years left to serve. Despite his confinement, he gave an interview to the media and revealed what he's investing in.
Sam Bankman-Fried's Life in Prison
Sam Bankman-Fried is currently living in the Metropolitan Detention Center (MDC) on Brooklyn. In August 2023, he spoke with William Cohan of Puck News. The interview was published on May 9th.
During the interview, the former CEO talked about his life in prison. He mentioned that he receives vegan meals, eating beans and rice. Interestingly, he revealed that he invests in rice. Yes, you read that right - rice has become one of the currencies in MDC.
At one point, he even joked that rice gives him enormous arbitrage opportunities, even bigger than those in cryptocurrencies.
Cohan added that Bankman-Fried was "considerably slimmer" than before, having lost 25 pounds (11 kilograms) and was "less puffy, less manic, less restless". During the interview, he looked straight into Cohan's eyes and seemed almost calm. He even admitted that he had developed the skill of pretending to be fine, saying that he was coping well.
Apparently, life in prison is boring (which is hard to believe). The former businessman had access to TV and a tablet, but not connected to the internet. He spent his time playing games on the tablet.
He also admitted that he doesn't worry about his safety but doesn't sleep well because other inmates often wake him up. Why? Well, it's all about his rice trading again. Apparently, other inmates frequently wake him up to ask about his rice packets, which they want to use for trading. A Martyr?
The former head of FTX told Cohan that he feels like a martyr. He doesn't feel guilty and believes that his only mistake was neglecting certain procedures.
Cohan noted in his piece that Bankman-Fried still doesn't believe he committed any crime. We don't know if his ultimate sentence, which he received a few months later, changed this state of affairs.
