Former CEO of the now bankrupt FTX, Bankman-Fried is reportedly offering cryptocurrency investment advice, promoting investments in the cryptocurrency Solana, to prison guards, as reported by The Times.
Since August, Bankman-Fried has been incarcerated at Brooklyn’s Metropolitan Detention Center, known for its subpar living conditions.
Bankman-Fried faces challenges beyond hygiene concerns in prison. Inmates lack internet access and are limited to radios or MP3 players.
This absence of a constant information stream might be particularly challenging for Bankman-Fried, according to author Michael Lewis, who suggested in an interview with 60 Minutes in October that the lack of internet access might have a profound impact on him.
Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, have written letters to the court requesting leniency for their son. Fried expressed genuine concern for “Sam’s life in the typical prison environment” in her letter, citing his outward presentation, difficulty in responding appropriately to social cues, and a somewhat naive belief in the power of facts and reason to resolve disputes.
In November, the FTX founder was found guilty of seven counts of fraud and conspiracy. The sentencing is scheduled for March 28, and Bankman-Fried faces a potential 110-year prison term. In a recent sentencing memorandum, his attorney, Marc Mukasey, argued that a 100-year sentence would be “grotesque” and “barbaric,” proposing a shorter term of five to six-and-a-half years for his client.
