Sam Bankman-Fried Finds Value in Mackerel Behind Bars
Sam Bankman-Fried, the founder of FTX, is currently facing legal consequences and has shifted his focus from crypto to a unique form of currency: mackerel. In prison, where inmates lack access to traditional and digital currency, substitutes become valuable.
Commodities like specific food items and stamps have emerged as alternatives to money in this bleak environment. Bankman-Fried, who is awaiting sentencing on seven criminal charges at the Metropolitan Detention Center in Brooklyn, has learned about jail survival from his dormitory companions.
Learning Hustle in Prison
Bankman-Fried’s fellow inmates include a former president of Honduras and a high-ranking Mexican law enforcement official. They have taught him the intricacies of surviving in jail. In fact, Bankman-Fried even used mackerel as currency to pay for a haircut from another prisoner.
The practice of using food products like mackerel as currency has become common in federal prisons since cigarettes were banned in 2004. Mackerel, also known as “macks” in prisoner slang, has replaced traditional money due to its stability and tangibility.
The Power of Mackerel
A packet of mackerel filets costs $1.30 in the Brooklyn jail’s commissary, indicating that demand drives up prices even in prison. Interestingly, Bankman-Fried follows a vegan lifestyle and doesn’t consume mackerel himself. However, this unintended food choice allows him to trade mackerel more easily with other inmates.
Prison Life and Mackerels
Bankman-Fried’s bail was revoked after allegations of witness intimidation, and he has been behind bars since then. He was found guilty of embezzlement and faces a potential prison term of 110 years. Additionally, he will face trial on bribery charges related to politics.
Bankman-Fried’s transition from a crypto luminary to a mackerel trader reflects the harsh reality of survival and adaptation in prison life.
Hot Take: Sam Bankman-Fried Embraces Unconventional Currency Behind Bars
Sam Bankman-Fried, the founder of FTX, has turned to mackerel as a form of currency while facing legal repercussions in prison. In an environment where traditional and digital money is scarce, inmates rely on substitutes like specific food items as a means of exchange.
Bankman-Fried’s experience in jail has taught him valuable survival skills, with his fellow inmates educating him on the use of mackerel as a preferred currency. Despite following a vegan lifestyle himself, Bankman-Fried’s unintentional food choice has made mackerel a convenient commodity for trading within the prison system.
This transition from the world of crypto to the realm of mackerels showcases Bankman-Fried’s adaptability and resilience in the face of adversity. It serves as a reminder that even in the confines of prison, individuals can find innovative ways to navigate their circumstances.
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