Within the concrete confines of the Metropolitan Detention Heart,
disgraced FTX founder Sam Bankman-Fried, referred to as SBF, is navigating a brand new
monetary frontier. Buying and selling fish for providers, the previous billionaire proves that
jail’s the proper place for monetary innovation.
Within the stark actuality of jail, the place the clink of money is changed by
the clank of jail gates, fallen crypto large Sam Bankman-Fried is swimming with the tides. The
disgraced FTX founder, awaiting sentencing for a litany of felonies, has embraced
a novel medium of change , albeit one which’s standard with this fellow inmates:
mackerel. Sure, you learn that proper—fish. In response to the Wall
Avenue Journal, the financial genius behind FTX has seamlessly transitioned
from digital property to piscatorial currencies.
FTX founder Sam Bankman-Fried, who was convicted of fraud and is cooling his heels at a Brooklyn detention middle, has traded in crypto for a brand new foreign money: mackerel https://t.co/MYedH4A7dV pic.twitter.com/vKFmvpIQnY
— The Wall Avenue Journal (@WSJ) November 23, 2023
The fish, generally known as “macks” amongst inmates, had
been the selection of foreign money in federal prisons since 2004 after cigarettes had been
banned, sources instructed the Journal in 2008. International Supply Advertising , a
provider of the fish, claimed that the fish was so wanted in prisons that
it seen an uptick in demand.
The logic behind the mackerels’ worth is that sure meals objects and
stamps are used as secure foreign money as their worth may be immediately tied to the
greenback.
From Cryptocurrency Tycoon to Mackerel Maestro
As soon as a crypto-billionaire, SBF’s present hustle includes exchanging
packaged mackerel, a piscine delicacy amongst inmates, for numerous providers.
Studies recommend that SBF paid for a contemporary haircut, courtesy of a fellow
detainee, with this uncommon type of foreign money. From FTX founder to fish
aficionado, the twists in Bankman-Fried’s journey proceed to baffle—buying and selling
one commodity for an additional, albeit in a a lot much less glamorous setting.
Bankman-Fried will likely be sentenced on March 28, 2024, faces as much as 110
years in jail for the fraud fees introduced towards him, however they’re solely
a part of the costs he is dealing with. He is additionally set to face trial for separate counts
associated to political bribery.
We’ll proceed to fish for particulars.
Within the concrete confines of the Metropolitan Detention Heart,
disgraced FTX founder Sam Bankman-Fried, referred to as SBF, is navigating a brand new
monetary frontier. Buying and selling fish for providers, the previous billionaire proves that
jail’s the proper place for monetary innovation.
Within the stark actuality of jail, the place the clink of money is changed by
the clank of jail gates, fallen crypto large Sam Bankman-Fried is swimming with the tides. The
disgraced FTX founder, awaiting sentencing for a litany of felonies, has embraced
a novel medium of change , albeit one which’s standard with this fellow inmates:
mackerel. Sure, you learn that proper—fish. In response to the Wall
Avenue Journal, the financial genius behind FTX has seamlessly transitioned
from digital property to piscatorial currencies.
FTX founder Sam Bankman-Fried, who was convicted of fraud and is cooling his heels at a Brooklyn detention middle, has traded in crypto for a brand new foreign money: mackerel https://t.co/MYedH4A7dV pic.twitter.com/vKFmvpIQnY
— The Wall Avenue Journal (@WSJ) November 23, 2023
The fish, generally known as “macks” amongst inmates, had
been the selection of foreign money in federal prisons since 2004 after cigarettes had been
banned, sources instructed the Journal in 2008. International Supply Advertising , a
provider of the fish, claimed that the fish was so wanted in prisons that
it seen an uptick in demand.
The logic behind the mackerels’ worth is that sure meals objects and
stamps are used as secure foreign money as their worth may be immediately tied to the
greenback.
From Cryptocurrency Tycoon to Mackerel Maestro
As soon as a crypto-billionaire, SBF’s present hustle includes exchanging
packaged mackerel, a piscine delicacy amongst inmates, for numerous providers.
Studies recommend that SBF paid for a contemporary haircut, courtesy of a fellow
detainee, with this uncommon type of foreign money. From FTX founder to fish
aficionado, the twists in Bankman-Fried’s journey proceed to baffle—buying and selling
one commodity for an additional, albeit in a a lot much less glamorous setting.
Bankman-Fried will likely be sentenced on March 28, 2024, faces as much as 110
years in jail for the fraud fees introduced towards him, however they’re solely
a part of the costs he is dealing with. He is additionally set to face trial for separate counts
associated to political bribery.
We’ll proceed to fish for particulars.
