{"id":376329,"date":"2023-11-23T22:18:46","date_gmt":"2023-11-23T22:18:46","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=376329"},"modified":"2023-11-23T22:18:46","modified_gmt":"2023-11-23T22:18:46","slug":"sbf-housed-with-ex-honduras-president-in-jail-is-trading-mackerel-and-giving-crypto-tips","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sbf-housed-with-ex-honduras-president-in-jail-is-trading-mackerel-and-giving-crypto-tips\/","title":{"rendered":"SBF housed with ex-Honduras president in jail, is trading mackerel and giving crypto tips"},"content":{"rendered":"<p>The Wall Street Journal published an update on the prison living conditions of <a href=\"https:\/\/cryptoslate.com\/people\/sam-bankman-fried\/\">Sam Bankman-Fried<\/a>, FTX's co-founder and ex-CEO, on <a href=\"https:\/\/www.wsj.com\/finance\/currencies\/sam-bankman-frieds-life-behind-bars-crypto-tips-and-paying-with-fish-858097c6?st=qlb7okwrhbjcjof&reflink=article_copyURL_share\">Nov. 23<\/a>.<\/p>\n<p>The newspaper said that Bankman-Fried has been placed in a dormitory with Juan Orlando Hern\u00e1ndez, a former Honduran president who is awaiting trial over acceptance of bribes from drug traffickers. Both appear to be on good terms: Hern\u00e1ndez's lawyer said that the two inmates have held &#8220;cordial conversations.&#8221;<\/p>\n<p>Also in the same unit is Genaro Garc\u00eda Luna, a former head of police in Mexico who was recently convicted of helping cartels smuggle cocaine into the U.S.<\/p>\n<p>The Wall Street Journal added that Bankman-Fried's difficulties in accessing vegetarian meals and ADHD medication in prison have been resolved.<\/p>\n<p>It noted that Bankman-Fried is allowed to see non-attorney vistors once a week. He has also been granted access to a special laptop for the review of legal documents, though his computer use is restricted to a dedicated room with divider desks.<\/p>\n<p>Bankman-Fried's spokesperson, Mark Botnick, told the newspaper that the former <a href=\"https:\/\/cryptoslate.com\/companies\/ftx\/\">FTX<\/a> executive is doing the &#8220;best he can under the circumstances.\u201d<\/p>\n<h2>Bankman-Fried involved in prison economy<\/h2>\n<p>The Wall Street Journal additionally said that Bankman-Fried is trading mackerel packets with other inmates in exchange for services. He reportedly traded an unknown amount of mackerel for a haircut prior to his trial in November.<\/p>\n<p>Mackerel packets \u2014 which are individually worth about $1.30 \u2014 became a de facto prison currency after federal smoking bans eliminated cigarettes as a viable alternative. (Incidentally, another former cryptocurrency convict, Charlie Shrem, has <a href=\"https:\/\/medium.com\/@cshrem\/a-geek-in-prison-part-13-mackerelcoin-my-socioeconomic-observations-of-prison-ebc057a83e1d\">previously commented<\/a> on the economics of prison mackerel trading.)<\/p>\n<p>Bankman-Fried has also provided advice regarding cryptocurrency investment to guards, according one of the Wall Street Journal's unnamed sources.<\/p>\n<h2>SBF will be moved after sentencing<\/h2>\n<p>Bankman-Fried is currently housed in the Metropolitan Detention Center, Brookyln, which is notorious for its poor conditions. He will be transferred to a federal prison to serve his full sentence. There, he will likely receive greater freedom of movement, better educational and recreational resources, and company with less violent prison population, according to a prison consultant cited by the Wall Street Journal.<\/p>\n<p>Bankman-Fried has been <a href=\"https:\/\/cryptoslate.com\/sbf-found-guilty-on-all-7-charges\/\">convicted<\/a>, but has not yet been sentenced, for his role in FTX's fraud. His sentencing is set for March 28, 2024 following a second trial that will handle charges of campaign finance fraud and bribery of Chinese officials.<\/p>\n<p>Bankman-Fried's current maximum sentence is 115 years in prison, though some experts have suggested he will be imprisoned for <a href=\"https:\/\/cryptoslate.com\/sbf-will-likely-serve-25-years-rather-than-max-sentence-former-doj-prosecutor-says\/\">25 years or less<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wall Street Journal published an update on the prison living conditions of Sam Bankman-Fried, FTX&#8217;s co-founder and ex-CEO, on Nov. 23. The newspaper said that Bankman-Fried has been placed in a dormitory with Juan Orlando Hern\u00e1ndez, a former Honduran president who is awaiting trial over acceptance of bribes from drug traffickers. Both appear to [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":376402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SBF housed with ex-Honduras president in jail, is trading mackerel and giving crypto tips<\/title>\n<meta name=\"description\" content=\"The Wall Street Journal published an update on the prison living conditions of Sam Bankman-Fried, FTX&#039;s co-founder and ex-CEO, on Nov. 3.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/sbf-housed-with-ex-honduras-president-in-jail-is-trading-mackerel-and-giving-crypto-tips\/\" \/>\n<meta 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