SBF’s Life Behind Bars — Trading Rice in Jail
LUCKNOW (CoinChapter.com) — His rise was stratospheric, his wealth was immense. At just 30 years old, Sam Bankman-Fried (SBF) stood atop the cryptocurrency world as the billionaire founder of FTX. This was one of the largest crypto exchanges at that time.
However, in a shocking twist of fate, SBF has gone from ruling an $80 billion empire to trading humble bags of rice in a Brooklyn jail cell.
In his first interview since his dramatic descent from power, the disgraced founder spoke out from behind bars at the Metropolitan Detention Center. His claims? That he’s completely innocent – and that he’s “the fall guy” wrongly carrying the burden for FTX’s sudden implosion.
SBF Blames His Lawyers for FTX Collapse
Despite being convicted of defrauding investors of $8 billion and sentenced to 25 years in prison, Bankman-Fried remains defiant. He said that he had committed no crimes. In fact, he insisted that if he had not fallen for his lawyers’ terrible advice, FTX would still be a titan worth $80 billion today.
He blamed the devious actions of his competitors for instigating a bank run that brought the empire crumbling down – not any intentional wrongdoing on his part.
The Jailed Crypto King’s New Life
Gone are the luxuries of Bankman-Fried’s formerly affluent life. These days, he subsists on vegan meals that his fellow inmates deride as smelling “like shit.” His new preferred cuisine? Humble bags of rice and beans – so precious that rice bags have “become one of the currencies of the realm” inside the walls of MDC.
Despite his thinner frame after losing 25 pounds in jail, SBF maintains his signature poise. He’s “less pudgy, less manic” now, able to look people in the eye – a feat he “rarely did” before.
By his own admission, Bankman-Fried has simply “become good at faking” an air of wellness that conceals his harsh new reality.
Will SBF’s Appeal Succeed?
Bankman-Fried has already filed to appeal his conviction and draconian sentence. He is awaiting the July appeal date while passing endless days of boredom in his dorm-style jail cell. He is surrounded by 35 other male inmates there – half of them murderers.
With only a few shared TVs and a non-internet tablet for entertainment, SBF’s biggest disruption comes from sleepless nights. The disgraced founder confesses he doesn’t sleep well as inmates constantly wake him for his coveted rice bags.
If his appeal fails, he could face an even harsher fate – a lengthy transfer taking up to 4 months aboard a cramped prison bus crossing the entire country to place him in a California facility near his parents’ home.
No matter how his legal odyssey ends, one thing is clear: SBF’s fall from crypto king to prison’s rice trader will go down as one of the most dramatic downfalls the financial world has ever seen.
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