HomeNewsSam Bankman-Fried's Mackerel-Based Economy in Brooklyn Detention Center

Sam Bankman-Fried’s Mackerel-Based Economy in Brooklyn Detention Center

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  • Sam Bankman-Fried adapts to prison life by trading mackerel in place of cigarettes.
  • The former FTX CEO is housed in Brooklyn’s Metropolitan Detention Center with notable inmates.

In a recent update by CoinDesk on Sam Bankman-Fried, the former FTX founder is navigating a new reality within the confines of Brooklyn’s Metropolitan Detention Center. The Wall Street Journal unveils an intriguing aspect of this transition: mackerel has emerged as the new currency of choice, replacing cigarettes in the prison’s informal economy.

Mackerel Over Cigarettes: A New Trading Medium

Gone are the days when cigarettes ruled as the de facto currency in prisons. In this smoke-free environment, preserved fish, specifically mackerel, has risen to prominence. Bankman-Fried, adept in the art of trade, has reportedly used “macks” – slang for mackerel pouches – to obtain a haircut. This shift from traditional forms of currency to an edible commodity highlights the unique economic systems that develop in enclosed communities like prisons.

Life in Detention: A High-Profile Inmate’s Routine

Bankman-Fried’s current residence, the Brooklyn Metropolitan Detention Center, is a far cry from his previous life as the CEO of the now-bankrupt FTX. Found guilty earlier this month on multiple counts of fraud, he shares space with other notable figures, including a former Honduran president and a senior Mexican police officer. Despite his fall from grace, Bankman-Fried retains certain privileges. He has access to a specialized laptop for legal matters and is allowed weekly visits from non-attorney visitors.

Sharing Crypto Wisdom Behind Bars

Interestingly, Bankman-Fried’s expertise in cryptocurrency has not gone unnoticed even in detention. According to the WSJ, he has been imparting knowledge about crypto to the guards. This activity indicates that despite his current circumstances, Bankman-Fried remains engaged with the world of digital finance, a testament to his enduring association with the sector.

In conclusion, Sam Bankman-Fried’s adaptation to prison life showcases a fascinating blend of resilience and ingenuity. Trading mackerel as a currency within the detention center underscores the dynamic and adaptive nature of informal economies, even in the most unlikely places.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628