Sam Bankman-Fried (31), who went from being the founder of the virtual currency exchange FTX to becoming a fraud criminal, is known to be using ‘pickled mackerel’ as currency in a detention center. Bankmanfried was released on bail but has been in prison since August on charges of threatening trial witnesses.
On the 23rd (local time), the Wall Street Journal (WSJ) reported that Bankman Fried, who is imprisoned at the Brooklyn Metropolitan Detention Center in New York, is buying packs of pickled mackerel from the detention center’s cafeteria, even though he is a vegetarian. This is because after correctional authorities banned inmates from smoking in 2004, pickled mackerel has replaced cigarettes in prisons and is used as currency.
Originally, pickled mackerel packs were not a popular food among prisoners. The price is about $1 per pack, and each person can purchase only 14 per week. Since the amount in circulation is fixed, it is said to be recognized as stable as a currency.
The WSJ reported that Bankman-Fried gave a pack of pickled mackerel to a fellow inmate and cut his hair just before the trial on the 2nd, when he was found guilty on seven charges, including fraud, conspiracy, and money laundering.
Bankman-Fried is currently sharing a room with former Honduran President Juan Orlando Hernández, who is accused of drug and weapons trafficking. He is also imprisoned along with former Mexican Security Minister Genaro García Luna, who helped the Sinalio Cartel, a Mexican drug organization, import 50 tons of cocaine into the United States. WSJ reported, “Bankman-Fried learned about detention center economics from them.”
Bankman-Fried is allowed to meet with non-lawyer visitors once a week, and it is known that he uses a laptop that can only review legal materials. According to WSJ, Bankman Fried also provides information about virtual currencies to detention center guards.
He is scheduled to be transferred to federal prison after March 28 next year, when the first trial ruling is made. “Mackerel currency is much more stable than virtual currency,” said Bill Baroni, a lawyer who advises convicted celebrities on their prison terms. “I think Bankman Fried will likely take the mackerel currency with him when he is transferred,” he told WSJ. If Bankman Fried is found guilty of all seven charges, he could face up to 115 years in prison.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.