Home>Business>It sounds fishy, however SBF actually IS buying and selling mackerel in jail: Report

It sounds fishy, however SBF actually IS buying and selling mackerel in jail: Report

The crypto buying and selling days of former FTX CEO Sam Bankman-Fried are over, and the just lately convicted founder has discovered a brand new factor to commerce whereas in jail — fish. 

The Wall Road Journal reported on Nov. 23 that Bankman-Fried just lately traded 4 packets of Mackerel — recognized in jail as “macks” — for a haircut earlier than his legal trial final month.

Mackerel packets have risen to be the most well liked buying and selling commodity in United States prisons since tobacco merchandise had been banned. Postage stamps and soup packets — “soups” — respectively come second and third on the worth hierarchy. The commissary of the Metropolitan Detention Heart (MDC) the place Bankman-Fried is housed sells mackerel packets for $1.30.

Bankman-Fried is sharing a cell on the Brooklyn jail with former Honduran president Juan Hernández and a former senior Mexican police officer, sources conversant in the matter advised The Journal.

Social media pundits questioned the legitimacy of the studies and controversial tech determine Martin Shkreli often known as “pharma bro” — who spent greater than 4 years in federal jail — confirmed macks had been a staple foreign money in U.S. jails.

In a Nov. 24 put up on X (previously Twitter), Shkreli claimed paying 4 macks for a haircut was a “rip off” however famous it was nonetheless lower than paying somebody a e book of stamps.

Associated: FTX Foundation staffer fights for $275K bonus promised by SBF

Shkreli defined within the MDC that the marketplace for macks was bigger than stamps in comparison with an everyday state federal jail however warned in opposition to holding too many mack packs, saying any greater than 500 turns into suspicious.

As a vegan, Bankman-Fried wouldn’t eat mackerel, making them a extra simply traded commodity for the just lately convicted former billionaire.

On Nov. 21, the court of appeals denied Bankman-Fried’s request to be launched from jail whereas he awaits his sentencing listening to, at the moment scheduled for March 28 subsequent 12 months.

Bankman-Fried was found guilty of seven fraud- and cash laundering-related prices on Nov. 2.

Journal: This is your brain on crypto — Substance abuse grows among crypto traders