Sam Bankman-Fried, founder of FTX, trades fish in prison

Sam Bankman-Fried, founder and former CEO of the bankrupt FTX, trades fish in New York prison. According to information from The Wall Street Journal, the former billionaire had no trouble understanding the relatively simple economics of the chain.

The fish in question is the mackerel and your fillet package is priced at $1.30, up 30% since 2020, almost a stablecoin. It allows inmates to buy a variety of items, including peanut butter ($4.15), a pair of sneakers ($79.95) and even an MP3 player ($88.40).

Mackerel fillet is said to have replaced cigarettes as a bargaining chip in 2006, when tobacco was banned in US prisons. Since Sam Bankman-Fried is vegan, the former billionaire may be benefiting from this “currency” that until then had no value to him.

SAM SBF FTX
SAM SBF FTX

Sam Bankman-Fried is said to have traded fish for a haircut

Famous for his blows, but also for his tousled hair, Sam Bankman-Fried opted for a more professional cut style during his last appearances in American courts. The same happened with his clothes.

“Notoriously clumsy Sam Bankman-Fried gets a makeover for his criminal case with a new haircut and suit.”

The former billionaire seems to like this new style. According to information from the WSJ, Sam Bankman-Fried paid four packs of mackerel fillets to cut his hair short in prison. When converted directly, the reduction cost US$5.2 (R$25.50).

“The ponytail monetary system is much more stable than cryptocurrencies”said Bill Baroni, a prison consultant who reported the details of Sam Bankman-Fried’s negotiations to The Wall Street Journal.

Baroni also recalled that the FTX founder will soon be transferred to a federal prison and that he will take his packages of mackerel fillet with him. Convicted of the seven charges he faced, SBF could spend up to 110 years in prison, enough time to create a new empire – this time of fish.

However, many believe that Bankman-Fried will not spend that much time behind bars. The decision on his sentence is scheduled for March 28, 2024.

“The most hated warden in the world,” says Sam Bankman-Fried, who asked him for advice on life in prison

Martin Shkreli, known as the “world’s most hated executive” for his pharmaceutical business activities, said Sam Bankman-Fried sought his help in understanding life in prison. Shkreli was sentenced to seven years in prison, with six and a half years to serve before his release.

“Sam comes from a higher class, he has never had to deal with minorities”Shkreli said. “When he asked me for advice about this, I said, ‘I think you need to learn rap, learn slang, make up a story about your past where you’re not Sam Bankman the businessman, you’re Sam Bankman from Oakland.’

“I said, ‘No, Sam, there’s no internet in prison. If you can sneak a cell phone up someone’s butt or something, you might be able to find a way to get a phone signal. But no, there is no internet kiosk where you can play video games. It’s a difficult place. ”

The former FTX founder is also known for playing League of Legends during business meetings. The part where Shkreli talks about Sam Bankman-Fried in the video above starts at minute 36 and runs until minute 44.

The FTX founder’s defense team made no comment on the case after US media questioned whether Shkreli’s story was true.

Source: Live Coins

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