It’s been three months since Sam Bankman-Fried was arrested and thrown behind bars related to allegations he defrauded FTX customers out of billions. But even while stewing in a jail cell, the disgraced former crypto kingpin has stayed busy strategizing for his legal case – while also finding time to shill cryptocurrencies to guards and fellow inmates.
TLDR
- Sam Bankman-Fried has been using his time in jail to work on his legal case and share crypto investment tips with guards, recommending buying Solana’s token SOL
- SBF believes strongly in Solana’s potential and was a major backer of the network before FTX’s collapse
- His legal team is appealing for a reduced sentence between 5-6.5 years instead of a potential 100 years based on his character and the expected full recovery of client funds
- Fellow inmates like ex-NYPD officer Carmine Simpson have written letters vouching for SBF’s “selfless” nature and commitment to philanthropy
- Simpson said SBF is sticking to a vegan diet in jail but struggling with “disgusting-looking beans and week-old brown lettuce”
According to recent reports, Bankman-Fried has leveraged his time at the Metropolitan Detention Center to coordinate with his recently expanded legal team on efforts to appeal his fraud conviction. SBF and his lawyers are pushing for a drastically reduced sentence in the 5-6 year range compared to the potential century behind bars he faces.
While plotting his legal Hail Mary, Bankman-Fried has also allegedly touted investment advice to guards,continuing his crypto evangelism from his current unlikely pulpit. As a long-time booster of the Solana blockchain that former darling FTX was built upon, it’s perhaps no surprise he is reportedly recommending buying that network’s SOL token.
Even amidst the cratering reputational damage Solana and most crypto assets suffered in FTX’s wake last November, Bankman-Fried remains a SOL maximalist till the bitter end. It seems he is willing to pump the asset to anyone who will listen – even his jailers.
Bankman-Fried’s diehard devotion to disgraced crypto projects and veganism alike are being noted by fellow inmates as well. Carmine Simpson, an ex-NYPD officer also residing in the Brooklyn detention center on child pornography charges, wrote an impassioned letter pleading the judge assign Bankman-Fried leniency.
Simpson expressed skepticism initially of SBF’s over-the-top altruism but soon became convinced of his self-declared philanthropic motivations.
And he highlighted Bankman-Fried sticking firmly to his plant-based diet despite being served little more than “disgusting-looking beans” and other unappetizing vegetable matter.
For Bankman-Fried’s loyal backers, his maintained commitment to causes like veganism and Solana is evidence this young idealist lost his way exploiting regulatory gaps – rather than proof of a conniving fraudster who knew exactly what he was doing bilking billions from retail investors lured into centralized yield offerings.
Of course, not everyone sees it that way, as federal prosecutors push for around an 11-year sentence. And they likely won’t be convinced by Simpson’s emotional appeal given he also faces serious charges himself.
But the stirring letters of support from figures like his parents, former professors, and inmates paint a picture of their “misunderstood genius” as an overly optimistic do-gooder who got corrupted by the meteoric success of his ramshackle crypto empire.
As Bankman-Fried awaits his sentencing hearing on March 28th, binders full of glowing character references touting his virtues may be his best hope for a sympathetic judge mixes mercy with justice. Though the unabashed shilling for Solana even now likely won’t score too many bonus points.