Disgraced FTX Founder Sam Bankman-Fried Embraces Mackerel as Currency in Prison
Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, has found a new form of currency while awaiting sentencing on fraud charges. According to The Wall Street Journal, Bankman-Fried has adopted mackerel as his currency of choice behind bars. He was convicted on seven counts of fraud for misusing customer funds before FTX collapsed.
From Crypto King to Fishmonger
In prison, Bankman-Fried has learned to navigate the federal prison economy by using mackerel fillets as a substitute for banned cigarettes. He has used his stash of fish to barter and pay fellow inmates, even trading some mackerel packs for a haircut.
Sam Bankman-Fried Dishing Out Crypto Tips Behind Bars
Bankman-Fried has also been sharing investing tips with prison guards based on his former life as a Bitcoin billionaire. Despite the stark contrast between his previous luxurious lifestyle and the conditions in Brooklyn’s Metropolitan Detention Center, Bankman-Fried is doing his best under the circumstances.
Improved Conditions but Lengthy Sentence Ahead
Bankman-Fried now receives vegetarian options and necessary medications in prison. However, he is expected to be transferred to a federal prison after sentencing where he will have more freedoms and access to programming. In the meantime, he will continue relying on mackerel as his preferred form of currency.
Hot Take: Adapting to Life Behind Bars
Despite the downfall from crypto king to inmate, Sam Bankman-Fried has adapted to his new reality by embracing mackerel as a currency and providing crypto tips from his jail cell. While his future holds a likely lengthy sentence, Bankman-Fried seems to be making the best of his situation in prison.
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