"Sam Bankman-Fried's Unusual Prison Currency: Trading Fish for Services"

1 min read
Source: Business Insider
"Sam Bankman-Fried's Unusual Prison Currency: Trading Fish for Services"
Photo: Business Insider
TL;DR Summary

Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, has adapted to his new environment in prison by using packaged mackerel fish as a form of currency. Inmates at the Metropolitan Detention Center in New York have been using mackerel as a means of exchange since 2004, after cigarettes were banned. Bankman-Fried, who is awaiting sentencing on multiple felony counts, including wire fraud and money laundering, recently paid for a haircut with mackerel. The fish, known as "macks" among inmates, has become a stable commodity with a value that can be pegged to the dollar. Bankman-Fried faces up to 110 years in prison and is also set to stand trial for separate charges related to political bribery.

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