After months of silence following his imprisonment for fraud, Sam Bankman-Fried, the former CEO of FTX cryptocurrency exchange, spoke to the media for the first time on May 9. Bankman-Fried, who was sentenced to 25 years and maintains his innocence, is now focused on a new venture: commodities trading within the confines of the prison, particularly with bags of rice.

In an exclusive interview facilitated by Bankman-Fried's mother and conducted by Puck News journalist Theodore Schleifer, details emerged about Bankman-Fried's life behind bars at Brooklyn’s Metropolitan Detention Center, where he has been held since August 2023.

Bankman-Fried's prison experience has been marked by significant adjustments, including adapting to a vegan diet unpopular among fellow inmates. As a result, he has turned to beans and rice, a common staple and form of currency within the prison. Despite the challenges, Bankman-Fried maintains a sense of composure and resilience.

Currently residing in a spacious, dormitory-style prison area primarily reserved for female inmates, Bankman-Fried is segregated with 35 other male prisoners, half of whom are reportedly involved in murder cases. The former FTX CEO has undergone physical changes, having lost weight and appearing less restless compared to his pre-prison days.

During the interview, Bankman-Fried addressed the collapse of FTX, attributing it to negligence and external competition. He believes that he has been unfairly blamed for the company's downfall, emphasizing the role of negligence in creating conditions for a bank run. Expressing little remorse, he suggested that a civil penalty would have been more appropriate than a criminal one.

Bankman-Fried also expressed regret over not appointing a different leader for Alameda Research, citing a conflict of interest with his role at FTX. As he awaits potential transfer to a facility closer to his parents, Bankman-Fried remains focused on pursuing commodities trading within the prison walls.

As the legal proceedings continue and Bankman-Fried awaits his appeal, his new venture and the circumstances of his imprisonment shed light on a unique chapter in the life of a prominent figure in the cryptocurrency world.