Here’s what crypto the jailed FTX founder is advising prison guards to buy

While spending his days behind bars, the once-touted ‘King of Crypto’ and founder of the disgraced cryptocurrency trading platform FTX, found guilty on seven counts of fraud and conspiracy, Sam Bankman-Fried, is biding time giving crypto investment tips to prison guards.

Indeed, Bankman-Fried, a.k.a. SBF, currently resides in the Metropolitan Detention Center in Brooklyn, New York, where he has been sharing crypto market tips, recommending the guards to invest in Solana (SOL), according to The New York Times report published on February 27.

Preparing appeal and promoting Solana

Specifically, as the article reads, a “person with knowledge on the matter” said that the former crypto exchange CEO has been spending time in his jail cell preparing the appeal on his criminal conviction and sharing financial advice that heavily favors the native token of the Solana layer 1 blockchain:

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“Since last summer, he has been housed at the Metropolitan Detention Center in Brooklyn, where he has spent much of his time working on the case, a person with knowledge of the matter said. Mr. Bankman-Fried has also shared crypto market tips with the guards, the person said, recommending investments in the digital coin Solana.”

As a reminder, SBF has long glorified Solana and strongly prioritized investments in the token and its related projects and assets both by him and his companies, earning this token the nickname ‘Sam Coin’ right up to FTX’s collapse in November 2022.

SBF’s habit of sharing crypto tips

Interestingly, this isn’t the first time SBF’s crypto recommendations to prison guards have come to light. Late last year, a source revealed that he was providing crypto tips while awaiting sentencing for his fraud trial, as Finbold reported on November 24, 2023.

Meanwhile, Solana was at press time trading at the price of $111.67, which suggests an increase of 0.40% in the last 24 hours, an 8.35% advance across the previous seven days, adding up to the growth of 14.99% over the past month, as per the latest chart data on February 28.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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