While serving his 25-year sentence for fraud related to the collapse of cryptocurrency exchange FTX, founder Sam Bankman-Fried has provided rare glimpses into his new life behind bars. In recent interviews, he described his prison environment as "dystopian" and "soul-crushing," where days blend together in an "amorphous" flow of time. His accommodations consist of a shared dormitory with 35 other inmates, and meals are simple fare, primarily rice and beans.
Prison transforms time into a soul-crushing blur for the disgraced crypto founder, now sharing dormitory life with dozens.
Bankman-Fried's daily routine revolves around reading novels, playing chess with fellow inmates, and attempting to work on his legal case when his schedule permits. He occasionally watches movies but avoids the prison's vegan meal options due to their poor quality. His social circle now includes some friendships formed with other inmates, including high-profile individuals such as Sean "Diddy" Combs who shares his cell block. The rapper has been described as kind and friendly despite their difficult circumstances. He noted the absence of visits from former FTX employees and limited communication with the outside world.
Regarding his mental state, Bankman-Fried expressed remorse for actions that led to FTX's downfall, claiming to reflect on consequences daily. "I don't think I'm a criminal," he stated, while acknowledging significant management mistakes. He voiced frustration at his inability to help repair the damage caused by the exchange's collapse.
The convicted entrepreneur plans to appeal both his conviction and 25-year sentence. He claims his defense was prohibited from introducing vital evidence during trial and criticizes Sullivan & Cromwell's role in the prosecution.
Bankman-Fried also commented on his political evolution, noting that by late 2022, his donations to Republicans matched those to Democrats.
Looking toward the future, Bankman-Fried acknowledges he will likely be in his late 40s upon release if his sentence stands. He expressed uncertainty about his long-term prison placement and concern regarding potential transfer to a federal penitentiary. Following his initial designation, the Bureau of Prisons will evaluate his security scoring factors including age, education level, and offense severity to determine appropriate facility placement.
Despite his circumstances, he maintains hope to make a positive difference, though he remains haunted by losses experienced by FTX customers and employees.
