Update on Former Binance and FTX CEOs' Prison Sentences

The former Binance CEO, Changpeng Zhao, has started serving his four-month prison sentence at a federal penitentiary in California. This development was confirmed by a report from Bloomberg. Simultaneously, the former FTX CEO, Sam Bankman-Fried, who is facing a 25-year prison term, has been transferred to a medium-security federal correctional institution in Mendota, California.

Zhao is currently housed at Lompoc II, a low-security correctional facility that emphasizes outdoor activities for its inmates. Sam Mangel, a prison consultant, expressed optimism about Zhao's adjustment to his new surroundings.

The federal prison in Lompoc boasts extensive farmlands where inmates are engaged in farming activities, including beef production, crop cultivation, and dairy farming. The inmates are involved in various manual labor tasks such as horse riding, corn harvesting, and crop planting.

Once renowned as a