Disgraced former FTX CEO Sam Bankman-Fried, once seen as the “next Warren Buffett,” is now trading mackerel in prison for a jailhouse haircut.
Jurors convicted Bankman-Fried of seven counts of fraud and conspiracy in early November. Now, while waiting for his sentencing, he is learning the basics of life in prison.
Bankman-Fried has traded some pouches of mackerel, or macks as they are known behind bars, to another inmate for a haircut of his mop top ahead of his trial.
FTX founder Sam Bankman-Fried (second on left) is led away in handcuffs by officers of the Royal Bahamas Police Force in Nassau, Bahamas, on December 13, 2022. (MARIO DUNCANSON/AFP via Getty Images)
Mackerel has replaced cigarettes as the preferred jailhouse currency after officials have banned smoking.
Mark Botnick, a spokesman for Bankman-Fried, said, “Sam’s doing the best he can under the circumstances.”
While Bankman-Fried has been convicted of fraud and conspiracy during his time as the leader of the digital currency platform FTX, that has not stopped him from dispensing advice to prison guards.The Wall Street Journal reported:
He is allowed non-attorney visitors once a week and has access to a specialized laptop that allows him to review legal material, the person familiar with the matter said. He and other inmates are allowed to use computers in a room that has desks separated by plastic dividers, according to the person. While Bankman-Fried’s days of investing billions of dollars in startups and trading digital tokens are behind him, he has been giving tips on crypto to guards, the person said.
A Federal Bureau of Prisons spokesman said the bureau couldn’t comment on the conditions for any individual in its custody for privacy and security reasons. The bureau makes every effort to ensure the safety of inmates while providing a secure and humane environment, he said.
Bankman-Frioed once aimed to outpace infamous Democrat megadonor George Soros as the largest Democrat donor.
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
