Bags of rice for trade, says the first interview

Disgraced FTX founder Sam Bankman-Fried has revealed that he has not been abused and does not “feel insecure”. The only time he feels annoyed is during the night when they ask him about the bags of rice they want to use for trading.

This was his first in-depth interview since he was imprisoned.

Survival in SBF Prison: Beans, Rice and a Currency System

The disgraced founder of FTX and co-founder of Alameda Research, who was found guilty of wire fraud, money laundering and conspiracy in November, now has a new form of currency to trade while incarcerated at the Metropolitan Detention Center in Brooklyn.

While speaking with William D Cohan of Puck News in an interview hosted by SBF mother Barbara Fried, the former CEO of the cryptocurrency exchange informed Puck Magazine that he survives on beans and bags of rice bought from the police station and that their rice has become a form of currency within the MDC.

Cohan was not allowed access to a pen, pad, tape recorder, telephone, or watch during the interview, so his observations were written down afterward.

By Cohan’s estimate, SBF has lost about 25 pounds and appears to be in better shape. This could be due in part to his claim that the vegan food he receives is so bad he can’t eat it, and has been described as smelling horrible by his fellow inmates.

Intent to appeal

The offender also spoke about his situation in federal prison and maintained his innocence. He even revealed his intention to appeal the sentence. Bankman-Fried told Cohan that he feels he was made a scapegoat for FTX’s collapse, blaming negligence that left the company vulnerable to problems like a bank run and the actions of competitors .

He believes that civil, not criminal, penalties would be appropriate. Cohan noted that despite the conviction, SBF still denies any wrongdoing and sees itself as innocent who didn’t get enough of a chance to negotiate with prosecutors.

Instead of feeling remorse for the $8 billion in client funds it was convicted of mishandling, SBF claimed the lawyers it handed over to FTX were responsible for the company’s collapse.

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