SBF's Current Prison Home Is Pretty 'Grim'

Both Reuters and the New York Times report that fallen crypto exec Sam Bankman-Fried is expected to stop fighting extradition to the US from the Bahamas. In his initial court appearance on Tuesday, SBF declared that he would not waive his right to challenge extradition. But the 30-year-old—who faces extensive fraud charges related to the FTX exchange he founded—appears to be having a change of heart. Bloomberg had predicted that might happen a few days ago, given the "grim" state of the Bahamas' lone prison, Fox Hill.

As the Wall Street Journal reports, the prison is notorious for its overcrowded, unsanitary conditions. Prisoners have complained about having to remove human waste in buckets and developing bed sores from sleeping on the bare ground. A human-rights report from 2021 took note of rats, maggots, and insects in cells. While SBF may have dressed down in his role as CEO—cultivating a deliberately "schlubby" image—he had been living in a luxury Bahamas apartment when arrested. Whenever he comes to the US, SBF will be arraigned in federal court in Manhattan. (More Sam Bankman-Fried stories.)