SBF insists he is innocent and has turned to rice commodity trading in prison

ChainCatcher news, according to Cointelegraph, despite being sentenced to 25 years in prison for fraud, FTX co-founder Sam Bankman-Fried (SBF) still insists on his innocence. During his planned appeal, he has turned to commodity trading—specifically rice. In his first interview since being incarcerated in August 2023, he stated that he survives on beans and rice, with rice becoming a form of currency in prison. He joked that the arbitrage opportunities in prison are better compared to his past as a high-frequency trader.

In the interview, SBF expressed his view that he is the "scapegoat" for the FTX collapse. He admitted that his only oversight was allowing FTX to be in a position "vulnerable to bank runs and the nefarious actions of competitors," but believes that a reasonable punishment should be civil rather than criminal. Reports indicate that SBF still does not consider himself guilty, portraying himself as an innocent participant and complaining about his failure to negotiate adequately with prosecutors.