Sam Bankman-Fried quickly figured out that mackerel fish is the currency of choice among inmates.
AdvertisementIt didn't take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York's Metropolitan Detention Center.
The disgraced founder of crypto exchange FTX has reportedly been keeping busy by swapping food items in exchange for services as he awaits sentencing on seven felony counts that include wire fraud and conspiracy to commit money laundering.
He then used them to pay for personal upkeep services such as beard trims and shoe shines from inmates.
Food items like mack and tuna are stable commodities with a value that can be pegged to the dollar.
Persons:
Sam Bankman, Fried, —, FTX, SBF, It's, Larry Levin, mack
Organizations:
Service, New York's Metropolitan Detention Center, Wall Street Journal, Jane, Capital, Alameda Research, Wall Street
Locations:
New York's, New York, Lompoc, California