The Fishy Trading Ventures of Former FTX CEO Sam Bankman-Fried
Former FTX CEO Sam Bankman-Fried, who was recently convicted of fraud and money laundering charges, has found a new trading commodity while in jail — fish. According to The Wall Street Journal, Bankman-Fried traded four packets of Mackerel, known as “macks” in prison, for a haircut before his criminal trial. Mackerel packets have become a popular trading item in US prisons since tobacco products were banned. Postage stamps and soup packets follow as the second and third most valuable commodities. The Metropolitan Detention Center sells mackerel packets for $1.30 each.
Trading Behind Bars
Bankman-Fried is currently sharing a cell with former Honduran president Juan Hernández and a former senior Mexican police officer at the Brooklyn prison. While some social media users questioned the legitimacy of these reports, controversial figure Martin Shkreli confirmed that macks are indeed a staple currency in US jails. Shkreli mentioned that paying four macks for a haircut is considered a “rip off,” but it’s still cheaper than paying with a book of stamps. He also warned against holding too many mack packs, as it becomes suspicious when the count exceeds 500.
An Unconventional Commodity
Interestingly, Bankman-Fried, being a vegan, does not consume mackerel himself. However, this makes them an easily traded commodity for him in prison. Despite his recent request to be released from prison being denied by the court of appeals, Bankman-Fried’s sentencing hearing is scheduled for March 28 next year. He was found guilty of seven fraud- and money laundering-related charges on November 2.
Hot Take: Trading Fish Behind Bars
Former FTX CEO Sam Bankman-Fried has taken up an unconventional trading venture while in jail — fish. Mackerel packets, also known as “macks,” have become a popular currency in US prisons since the ban on tobacco products. Bankman-Fried recently traded four macks for a haircut before his criminal trial. Despite skepticism, controversial figure Martin Shkreli confirmed the legitimacy of macks as a prison currency. As a vegan, Bankman-Fried doesn’t consume mackerel himself, but they serve as a valuable commodity for trading. While awaiting his sentencing hearing in March, Bankman-Fried continues to navigate the world of trading behind bars.
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