Sam Bankman Fried Is Using A New Currency In Prison To Get Favors From Inmates — Fish
In the depths of New York’s Metropolitan Detention Center, Sam Bankman-Fried, the former cryptocurrency magnate, is adapting to the prison’s underground economy. As he awaits trial on various charges, including wire fraud and schemes to defraud, Bankman-Fried has been observed engaging in bartering for daily necessities, according to the Wall Street Journal.
One interesting aspect of Bankman-Fried’s prison economy is his use of packaged mackerel as a form of currency. Cigarettes, once the standard prison currency, were banned in federal prisons in 2004, creating a void that was filled by “macks,” as the fish packets are colloquially referred to by inmates. These packets have become an alternate monetary system within the prison, allowing for the exchange of goods and services.
Bankman-Fried’s ability to navigate this underground economy demonstrates his resourcefulness and adaptability, traits that likely contributed to his success in the cryptocurrency world. While his days of channeling billions into new ventures and maneuvering through the crypto markets may be behind him, he hasn’t completely disconnected from the cryptocurrency landscape. The Wall Street Journal reports that he has been offering cryptocurrency advice to the correctional officers overseeing him.
Despite his current circumstances, Bankman-Fried continues to stay engaged with the world outside the prison walls. He is permitted one visit each week from individuals who are not his legal counsel and has access to a designated laptop for reviewing legal documents. Additionally, he and his fellow detainees have access to a computer room fitted with desks, allowing for some semblance of normalcy within the confines of the prison.
The story of Bankman-Fried’s adaptation to the prison economy raises questions about the nature of currency and how it can evolve and transform in different contexts. It also highlights the resilience and ingenuity of individuals faced with challenging circumstances. Bankman-Fried’s ability to navigate this underground economy serves as a testament to his resourcefulness and ability to make the best of a difficult situation.
As the cryptocurrency market continues to grow and evolve, it will be interesting to see how individuals like Bankman-Fried, with their deep knowledge and experience in the industry, continue to influence and shape its trajectory. While his current situation may limit his direct involvement, it is clear that his influence and expertise still hold value, even in the confines of a prison cell.
In conclusion, Sam Bankman-Fried’s adaptation to the prison’s underground economy highlights the resiliency and adaptability of individuals faced with challenging circumstances. His use of packaged mackerel as a form of currency demonstrates the evolution of monetary systems within prison walls. Despite his current situation, Bankman-Fried’s influence and expertise in the cryptocurrency industry continue to hold value, even as he awaits trial.
