Disgraced FTX co-founder Sam Bankman-Fried was arrested and faces eight criminal charges.
Martin Shkreli, released from prison in May, advised him on preparing for potential prison time.
He told the podcast "Unchained" that Bankman-Fried should shave his head and listen to rap music.
Bankman-Fried's charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering.
In 2017, he was found guilty of securities fraud and was sentenced to seven years in prison.