FTX’s Sam Bankman-Fried Turns to Mackerel Trading Behind Bars

Sam Bankman-Fried, once a big shot in the cryptocurrency world, is now doing time at New York’s Metropolitan Detention Center. Found guilty of wire fraud and money laundering, the former crypto boss is adjusting to life behind bars.

Now That’s Some Fishy Business!

In an unexpected twist, Bankman-Fried, ex-CEO of the now-closed FTX, recently paid for a haircut using an unusual prison currency: mackerel fish, known as ‘macks.’ This fishy form of payment became a hit in federal prisons after the 2004 cigarette ban.

Bill Baroni, a former inmate turned consultant, spilled the beans to the Wall Street Journal about the thriving mackerel economy in prison. He amusingly compared the stability of this fish-based currency system to the unpredictable nature of cryptocurrency markets.

Read More: Congressman Considers Subpoena for SEC Chair Gensler Over Possible Ties to Sam Bankman-Fried

Bankman-Fried Gets a Makeover

Inside the detention center, Bankman-Fried is making some changes. He traded his wild curls for a more court-friendly hairstyle, a move noted by his ex-girlfriend, Caroline Ellison, who revealed the curls were part of his image.

Despite the prison setting, Bankman-Fried hasn’t abandoned his crypto roots. He’s been giving cryptocurrency advice to prison guards, showing he’s still got his digital asset dealer instincts. According to his spokesperson, Mark Botnick, “Sam is doing the best he can given the situation.”

It’s Really a Rollercoaster!

Bankman-Fried’s journey from crypto-billionaire to a guy trading haircuts for mackerel is a captivating episode in the cryptocurrency saga. The ups and downs of the crypto world seem to have found an unlikely echo in the Metropolitan Detention Center, where a former mogul navigates the currents of ‘macks’ instead of regular cash.

Also Read: Sam Bankman-Fried Convicted on All Charges, But What About His Partners In Crime?