Sam Bankman-Fried, the embattled founder of FTX cryptocurrency exchange, is slated for a move to a new correctional facility, as reported by The Wall Street Journal.
Bankman-Fried’s spokesperson has confirmed the impending move, although specifics regarding the new location remain undisclosed. Sources close to the matter suggest a likely transfer from the Brooklyn, New York, detention center, where he has been held for the past nine months, to a federal correctional facility in Mendota, California.
Mendota houses both a medium-security prison and a minimum-security satellite camp, making it a fitting choice for Bankman-Fried’s relocation. The move would notably bring him closer to his parents’ residence near Stanford University, facilitating visits and familial support, just a short drive away from the facility.
Federal prosecutors had previously recommended relocating Bankman-Fried to a lower-security facility in California, aligning with his desire for proximity to family. However, the founder had initially expressed a preference to remain at the Metropolitan Detention Center (MDC) in Brooklyn, New York, citing easier access to his legal team handling his appeal.