WSJ reveals details of Sam Bankman-Fried’s life behind bars

Former FTX chief Sam Bankman-Fried (SBF) has adapted to the conditions of detention in Brooklyn, New York. The Wall Street Journal reports, citing sources familiar with the situation.

According to the publication, the founder of the crypto exchange is in the same cell as former President of Honduras Juan Hernández and a former senior officer of the Mexican police. One of the interviewees added that SBF had given guidance to guards regarding cryptocurrencies.

At one of the hearings Bankman-Fried appeared with a new haircut, allegedly paid for with four packs of mackerel. According to Cointelegraph, after the cigarette ban in 2004 this fish became the most popular currency in federal prisons. Next come postage stamps and instant noodles.

According to The Block, in the Brooklyn detention center’s cafeteria one packet of mackerel fillet costs $1.30.

A representative of the Federal Bureau of Prisons, in a comment to WSJ, declined to comment on the detention conditions of any person in its custody on grounds of privacy and security.

“Sam is doing all he can in the circumstances,” said Mark Botnick, a spokesman for SBF.

The imprisoned American investor Martin Shkreli called the price of Bankman-Fried’s haircut a robbery. He added that in the Brooklyn center “the spot market [for mackerel] is bigger than the spot market for stamps,” but keeping the latter “is illegal”.

four mack is a ripoff. but if you’re stunting you would toss homie a book (a book of stamps).

in MDC mac spot market is bigger than stamp spot market. in prison prison, stamp spot market is more liquid. mac is very dense and its suspicious to be holding 500 macs. however, it’s…

— Martin Shkreli (e/acc) (@wagieeacc) November 23, 2023

Lawyers for SBF had previously argued that the founder of FTX was forced to eat bread, peanut butter and water due to a lack of vegan meals in the prison.

Mark Cohen: They are serving him a flesh diet. He is only eating bread and water, and sometimes peanut butter. This is one of the most complex cases in this courthouse. This is outrageous and it needs to be remedied.
Judge Netburn: I will look into this, today

— Inner City Press (@innercitypress) August 22, 2023

On November 21, the appellate court denied Bankman-Fried’s petition for release pending sentencing. The hearing is scheduled for March 28, 2024.

On November 2, jurors found the founder of FTX guilty on all counts. Each count carries a maximum penalty of five to twenty years in prison. In total, Bankman-Fried faces up to 115 years in prison.