Rice Bags for Trade, Says First Interview

Disgraced FTX founder Sam Bankman-Fried has revealed he has not been abused and does not “feel unsafe”. The only time he is disturbed is at night when they ask him about the bags of rice they plan to use in trade.

This was his first comprehensive interview since his imprisonment.

SBF Prison Survival: Beans, Rice and the Currency System

The disgraced founder of FTX and co-founder of Alameda Research, who was convicted 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 to William D Cohan of Puck News in an interview interview Arranged by SBF's mother – Barbara Fried – the former CEO of the cryptocurrency exchange told Puck Magazine that he lives on beans and bags of rice that he buys from the commissioner and that his rice has become a form of currency within the MDC.

Cohan was not allowed access to a pen, pad, tape recorder, phone, or watch during the interview, so his notes were taken afterward.

According to Cohan's estimates, SBF has lost about 25 pounds and appears to be in better shape. This may be because he claimed that the vegetarian food he received was so bad that he could not eat it, and his fellow prisoners described it as smelling bad.

Intent to appeal

The convicted felon also discussed his situation in federal prison and maintained his innocence. He even revealed his intention to appeal the ruling. Bankman told Fred Cohan that he felt he was made a scapegoat for FTX's collapse, attributing it to negligence that left the company vulnerable to issues such as bank failures and the actions of competitors.

He believes civil, rather than criminal, penalties would be appropriate. Cohan noted that despite the conviction, SBF still denies any crimes and considers himself innocent and has had little opportunity to negotiate with prosecutors.

Instead of feeling remorse for the $8 billion in client money he was found guilty of mishandling, SBF instead claimed that the lawyers he handed over to FTX were responsible for the company's collapse.