Transfer Details
Sam Bankman-Fried, the co-founder of the FTX crypto exchange, has been moved to a temporary detention center in Oklahoma City. This is despite a judge’s request to keep him in New York for his appeal.
Reason for Transfer
Bankman-Fried is serving a 25-year sentence for orchestrating a fraud at FTX. The Oklahoma facility is a transfer center where inmates are typically held for a few weeks.
Appeal Concerns
Bankman-Fried has filed an appeal and has raised concerns about the fairness of his trial. He alleges that the prosecution withheld crucial documents and colluded with the law firm representing FTX’s new owners.
Possible Transfer to California
After serving time in Oklahoma, Bankman-Fried may be transferred to a prison closer to his family in California.
FTT Token Update
The native token of the FTX exchange, FTT, has seen minor fluctuations in value. It is currently trading at $1.59, down slightly from Thursday’s price. However, it has gained 12% in value over the past month.
