"Wow, it looks like SBF is comfortable sitting in prison, his brain is business-minded."
Sam Bankman-Fried (SBF), the former Chief Executive Officer (CEO) of FTX who is currently housed in New York's Metropolitan Detention Center has used mackerel fish in prison in exchange for his haircut.
It is already known that mackerel has become the main 'currency' in the federal prison system where tangible commodities have succeeded in overcoming traditional forms of money when conventional currency is inaccessible.
There is no denying that a bag of mackerel cost $1 in 2020, but now the price has seen a 30% increase at $1.30 in the jail commissary* and this means there is inflationary pressure.
*Stores in correctional facilities, where inmates can buy products such as hygiene items, snacks and others
A prison consultant and ex-convict, Bill Baroni shared his experience of paying four mackerel fish to cut his hair while incarcerated and he also commented on the stability of the currency system compared to the volatile crypto market.
While SBF was in prison, he not only shared crypto tips with all the workers in the prison but also reminisced about his former life as a digital asset trader.
SBF is currently serving time after being found guilty of numerous offences, including money laundering including wire fraud which led to his arrest.
SBF's recent court appearance showing off his new haircut signaled that he has adjusted to life in prison, but his future remains uncertain as he faces a possible 115-year prison sentence.
