Crypto Twitter is abuzz with speculations on how Sam Bankman-Fried would fare in jail.
Recent buzz on Crypto Twitter has ignited speculation over how Sam Bankman-Fried (SBF), the founder of FTX, would handle potential incarceration.
Adam Cochran took to his account with a view. Cochran, known for his deep analytical dives into the crypto world and active participation in the Ethereum(ETH) community, opines that being in the Metropolitan Detention Center will “break him.”
Tiffany Fong, a well-respected crypto strategist and researcher known for interviewing SBF at the very start of SBF drama, agrees with Cochran. She thinks SBF is not built for jail.
Billy Markus, co-founder of the meme coin DOGE, joked that SBF could run a Ponzi scheme even in jail.
Mark Matthews, an insightful trader and market analyst in the crypto realm, also doubted SBF’s ability to cope with a jail term.
The collective account TikTokInvestors, which aggregates and discusses trending investment topics from TikTok, also believes that SBF won’t make it in jail.
Their posts, while diverse, offer a pulse on what younger investors are discussing.
HighYieldHarry, known for his focus on high-return investments and strategies, created a South Park-style video. He mocked SBF for luxury bail conditions, internet access, and ability to chat with former execs.
Alan Carroll, a blockchain enthusiast, and developer, added to this stance, hinting that SBF’s jail can also be luxurious.
These tweets, coming from a make-believe scenario, show just how different everyone’s take is in the crypto world. It’s like watching a lively debate at a dinner table, with the conversation changing as fast as the dessert courses.
Sam Bankman-Fried sent to jail
After SBF’s arrest in 2022, his lawyer requested bail. However, the request was denied by Chief Magistrate JoyAnn Ferguson-Pratt, who stated that the court needed to determine if it had the jurisdiction to offer him bail.
Despite the initial denial of bail, Bankman-Fried was eventually released on bail after making his first court appearance. The jury approved his $250 million bond, which involved signatures from his parents, Joseph Bankman and Barbara Fried, and two other individuals whose identities have been kept confidential.
Bankman-Fried’s lawyers have taken action to prevent the court from disclosing the identities of the two individuals who signed his bail alongside his parents. They filed a notice of appeal in response to a petition filed by several media outlets, including The Wall Street Journal, Bloomberg, and Cryptox, requesting the disclosure of the guarantors’ names. The appeal argues that revealing the identities of the guarantors could expose them to physical threats from the public.
US District Judge Lewis Kaplan, who presides over Bankman-Fried’s case, approved the media outlets’ petitions but allowed the defendant to file an appeal until a certain date. The details of the late petition filed by Bankman-Fried’s lawyers have not been disclosed.
During an interview conducted while under house arrest, Bankman-Fried discussed his experience in detention, describing it as “maddening.” He acknowledged receiving special treatment compared to other inmates but criticized the physical conditions of the prison as disgusting. While in prison, he was only allowed visits from his Bahamian lawyer.
On Aug. 11, Judge Kaplan revoked the bail term of bankrupt FTX’s disgraced founder due to allegations of witness tampering.
