The Rise of ‘Macks’ in Prison
Inside the federal prison system, mackerel “macks” have become the preferred currency. This highlights a trend where tangible goods have replaced traditional forms of money, particularly in environments where regular currencies are not accessible.
A pouch of mackerel filets, which were once priced at $1 in 2020, now cost $1.30 in the prison commissary due to inflation and high demand. Bill Baroni, a former inmate and prison consultant, shared his experience of paying four macks for a haircut while incarcerated. He jokingly compared the stability of the Mack currency system to the volatile crypto markets.
Bankman-Fried’s New Reality
In his new reality, Bankman-Fried has been seen sharing cryptocurrency tips with correctional officers, reflecting his previous life as a digital asset trader. His spokesperson commented that he is doing his best under the circumstances.
Awaiting Sentencing Amidst Convictions
Bankman-Fried is currently serving time after being convicted of various crimes, including money laundering and wire fraud. His involvement in one of the largest financial scams in US history led to his arrest and subsequent conviction. Despite adapting to prison life, he faces a potential 115-year sentence and an uncertain future.
Hot Take: The Unlikely Currency Inside Prisons
In prisons across the US, mackerel has become a valuable commodity used as currency. This shift away from traditional money forms highlights the resourcefulness and adaptability of inmates when faced with limited options. It also serves as a reminder of the stark contrast between life inside prison and the world of cryptocurrencies that Sam Bankman-Fried was once immersed in. As he navigates his new reality behind bars, Bankman-Fried’s interactions with correctional officers reflect his expertise in the crypto industry. However, with his convictions and a lengthy potential sentence, his future remains uncertain.
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