With no access to crypto, disgraced FTX founder Sam Bankman-Fried is now trading fish to pay for services in prison
Nov 24, 2023, 12:47 AM GMT+8
- Sam Bankman-Fried quickly figured out that mackerel fish is the currency of choice among inmates.
- He recently used it to pay for a haircut.
- The food item has been a popular means of exchange in federal prisons since 2004.
It 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.
We now know that the new polished haircut he has been seen with in New York courtrooms is thanks to an inmate. On Thursday, the Wall Street Journal reported that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates.
It’s no surprise that the former trader would quickly catch on to the commodity of choice in his new environment. He has been a professional trader for much of his career. In 2013, he got his first intern gig at Jane Street Capital, swapping exchange-traded funds before co-founding his crypto trading firm Alameda Research in 2017. A year later, he figured out how to arbitrage bitcoin between the US and Japanese markets.
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The fish, popularly referred to as “macks” among inmates, has been the choice of currency in federal prisons since 2004, after cigarettes were banned, the Wall Street Journal previously reported.
Formerly incarcerated attorney Larry Levin accepted it as a form of payment from fellow prisoners he represented while serving his own sentence at the Lompoc correctional institution in California. He then used them to pay for personal upkeep services such as beard trims and shoe shines from inmates.
The trend became so popular that Global Source Marketing, a supplier of the fish, felt the increased demand, according to a 2008 story from the Journal.
There’s economic logic behind the trend. Products that have steady value such as certain food items and stamps are used as a steady means of exchange to substitute for currency, which inmates cannot access. Food items like mack and tuna are stable commodities with a value that can be pegged to the dollar.
Bankman-Fried, who is set to be sentenced on March 28, 2024, faces up to 110 years in prison for the fraud charges brought against him, but it’s only part of the charges he is facing. He is also set to stand trial for separate counts related to political bribery.
加密货币换“鲭鱼”？ SBF已开始学习监狱“经济学” 身处拘留中心仍不忘分享投资建议
2023-11-24 06:51:58
摘要：周四(11月23日)，暴雷的加密货币交易所FTX前首席执行官Sam Bankman-Fried被判犯有欺诈罪，他用加密货币换取了一种新货币：鲭鱼（mackerel）。这位倒下的前加密货币领袖，正在布鲁克林的都会拘留中心度过时间，等待对七项重罪指控的判决。他与一位正在等待刑事审判的洪都拉斯前总统和一位最近被定罪的墨西哥前高级警官分享一个宿舍，据知情人士称，他在这里学到了监狱经济学的基础。尽管Sam Bankman-Fried投资数十亿美元创业的日子已经过去，但他一直在向狱警提供有关加密货币的建议。
(北美)讯 周四(11月23日)，暴雷的加密货币交易所FTX前首席执行官Sam Bankman-Fried被判犯有欺诈罪，他用加密货币换取了一种新货币：鲭鱼（mackerel）。
这位倒下的前加密货币领袖，正在布鲁克林的都会拘留中心度过时间，等待对七项重罪指控的判决。他与一位正在等待刑事审判的洪都拉斯前总统和一位最近被定罪的墨西哥前高级警官分享一个宿舍，据知情人士称，他在这里学到了监狱经济学的基础。
由于官方禁止吸烟，鲭鱼（mackerel）已经取代香烟成为联邦监狱中受欢迎的货币，有时候囚犯会使用在商店购买的罐装的鲭鱼来支付彼此之间的服务。据一位知情人士称，Sam Bankman-Fried曾经用一些装有鲭鱼的袋子（通常称为macks）与一名狱友交换，以得到一次在审判前剪去他标志性“爆炸头”的理发服务。
这位FTX创始人自从联邦法官在8月撤销了他的保释以来，一直在监狱中，法官发现有足够的理由认为他试图威胁证人，而Sam Bankman-Fried否认了这一指控。本月早些时候，陪审团只花了几个小时就判定他犯有从FTX客户那里盗取数十亿美元、欺诈投资者和贷款方的罪行。他的判决将于3月28日宣布，之后他将被转移到联邦监狱服刑。
布鲁克林拘留中心与Sam Bankman-Fried巴哈马的3000万美元顶层公寓形成鲜明对比。
据一位知情人士称，Sam Bankman-Fried每周被允许非律师访客，并可以使用专门的笔记本电脑来查阅法律文件。他和其他狱友被允许在一个房间里使用带有塑料隔板的桌子的电脑。尽管Sam Bankman-Fried投资数十亿美元创业的日子已经过去，但他一直在向狱警提供有关加密货币的建议。
联邦监狱局的一位发言人表示，由于隐私和安全原因，该局不能就其监管下的任何个体的条件发表评论。他表示，该局正在尽一切努力确保囚犯的安全，同时提供一个安全和人道的环境。
Sam Bankman-Fried的发言人Mark Botnick表示：“在目前的情况下，Sam Bankman-Fried正在尽力而为。”
在审判中，Sam Bankman-Fried作证说，虽然他对加密货币交易所没有更好的风险管理感到遗憾，但他并没有欺诈。他的律师表示，Sam Bankman-Fried计划对判决提出上诉，因为这可能导致数十年的监禁。
监狱顾问Bill Baroni表示，一旦Bankman-Fried被转移到联邦监狱服刑，他可能会有更多的行动自由，除此之外还能更好地获取教育和娱乐资源。
Bill Baroni表示：“一旦他被判刑，他的生活将变得更好，他将远离最暴力的人群。”
其他白领犯人在离家较近或提供更多项目的设施中服刑。例如，欺诈投资者的血液测试公司Theranos创始人Elizabeth Holmes目前正在得克萨斯州布赖恩市的一所全女性、最低安全级别的监狱营地中服刑，该市位于奥斯汀和休斯敦之间。
多年来，布鲁克林拘留中心的条件恶劣且人手严重不足，一直受到辩护律师和代表监狱看守的工会的批评。联邦监狱局发言人表示，维持监狱人员配备齐全是该局的首要任务。
据知情人士透露，Sam Bankman-Fried的单元室友包括墨西哥前公共安全部长Genaro García Luna，他于今年早些时候被判犯有帮助强大的锡纳罗亚贩毒团伙将50多吨可卡因走私进入美国的罪名，他正在等待判决。
另一名单元狱友是洪都拉斯前总统Juan Orlando Hernández，他正在等待受审，面临联邦贩毒和枪支指控。在2022年被引渡到美国后，他表示不认罪。
Juan Orlando Hernández的辩护律师Raymond Colon表示，他的当事人和Sam Bankman-Fried在监狱里进行了亲切的交谈。
Sam Bankman-Fried的一位律师在8月底出庭时表示，Sam Bankman-Fried最初靠花生酱、面包和水维持生计，因为监狱不接受他的纯素饮食。律师说，他也很难获得正确剂量的安非他命处方药。
一位知情人士称，他对食物和药物的访问权（他因多动症而服用药物）后来得到了解决，并且获得了素食餐。
曾在该中心和其他联邦设施工作过的监狱顾问Christine Dynan表示，拘留中心的囚犯通常被限制在自己的牢房内，不能在设施内自由走动。不像一些监狱那样在公共自助餐厅就餐，而是将餐食送到各个单位。
很多犯人更喜欢通过布鲁克林监狱的商店购买食物、衣物和洗漱用品。一份商店清单显示，花生酱售价4.15美元，一双运动鞋售价79.95美元，一台MP3播放器售价88.40美元。一袋鲭鱼片的售价为1.30美元，较2020年的1美元上涨了30%。
监狱顾问Bill Baroni表示，当Sam Bankman-Fried转移到联邦监狱时，他可能会携带他的鲭鱼包裹。Bill Baroni表示，他在监狱里用四袋鲭鱼支付了自己的理发费。
他说：“鲭鱼货币系统比加密货币稳定得多。”
Sam Bankman-Fried’s Life Behind Bars: Crypto Tips and Paying With Fish
wsj
4 min read 23 Nov 2023, 06:47 PM IST
(with inputs from The Wall Street Journal )
The FTX founder has learned that mackerel is a favored jailhouse currency, as he shares a dormitory with an ex-Honduran president and a former top cop of Mexico.
Sam Bankman-Fried, convicted of fraud in the meltdown of FTX, has traded in crypto for a new currency: mackerel.
The fallen crypto king, who is cooling his heels at Brooklyn’s Metropolitan Detention Center while he awaits sentencing for seven felony offenses, has learned the fundamentals of prison economics while sharing a dormitory with a former Honduran president awaiting criminal trial and a recently convicted former top cop of Mexico, people familiar with the matter said.
Mackerel has replaced cigarettes as a favored federal jailhouse currency after officials banned smoking, and inmates sometimes use pouches of the preserved fish purchased in a commissary to pay for services from one another. Bankman-Fried traded some pouches of macks, as they are known, to a fellow inmate for a haircut of his signature moptop ahead of his trial, one of the people said.
The FTX founder has been in jail since a federal judge revoked his bail in August after finding probable cause that he attempted to intimidate witnesses, a claim Bankman-Fried denied. Earlier this month, a jury took only a few hours to convict him on charges that he stole billions of dollars from FTX customers while defrauding investors and lenders. He is scheduled to be sentenced March 28, after which he will move to a federal prison to serve out his sentence.
The Brooklyn detention center is a far cry from the $30 million penthouse apartment in the Bahamas that Bankman-Fried once called home.
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.
“Sam’s doing the best he can under the circumstances,” Bankman-Fried’s spokesman, Mark Botnick, said.
At the trial, Bankman-Fried testified that while he regretted not having better risk-management at the crypto exchange, he didn’t commit fraud. His lawyers have said Bankman-Fried plans to appeal the conviction, which could lead to a decadeslong prison sentence.
Once Bankman-Fried is relocated to a federal prison to serve his sentence, he will likely have more freedom of movement, in addition to better access to educational programming and recreation, said prison consultant Bill Baroni, a lawyer who was convicted for his role in the New Jersey Bridgegate scandal, in which associates of former Gov. Chris Christie were accused of creating traffic jams for political retribution.
“When he is sentenced, his life will get better,” said Baroni, whose fraud conviction was subsequently thrown out by the Supreme Court. “He’ll be out of the facility with the most violent people.”
Other white-collar inmates have served time in facilities that are close to their families or offer more programming. Theranos founder Elizabeth Holmes, who was convicted of defrauding investors in the blood-testing company, is currently at the all-female, minimum-security prison camp in Bryan, Texas, located between Austin and Houston.
The Brooklyn detention center has been criticized by defense lawyers and the union representing jail guards for poor conditions and being severely understaffed for years. The Federal Bureau of Prisons spokesman said that maintaining fully staffed institutions is a key priority for the bureau.
People familiar with the matter say Bankman-Fried’s unit mates include Genaro García Luna, Mexico’s former secretary of public security who was convicted earlier this year of helping the powerful Sinaloa cartel smuggle more than 50 tons of cocaine into the U.S. García Luna is awaiting sentencing.
Another unit inmate is former Honduras President Juan Orlando Hernández, who is awaiting trial on federal drug-trafficking and firearms charges. Hernández pleaded not guilty after being extradited to the U.S. in 2022.
Hernández’s defense lawyer, Raymond Colon, said his client and Bankman-Fried have had cordial conversations with one another at the jail. Colon said staffing shortages can lead to canceled visiting hours, but Hernández generally doesn’t complain about the conditions.
“It’s certainly not a hotel,” Colon said.
Bankman-Fried initially subsisted on peanut butter, bread and water because the jail wasn’t accommodating his vegan diet, one of his lawyers said in a court appearance in late August. He also had trouble getting his proper dosage of prescribed Adderall, the lawyer said.
His access to food and medication—which he takes for attention-deficit hyperactivity disorder—have since been resolved. He receives vegetarian meals at the jail, a person familiar with the matter said.
Inmates at the detention center are typically confined to their unit, and don’t move freely around the facility. Instead of eating in a communal cafeteria, as at some prisons, meals are delivered to individual units, said Christine Dynan, a prison consultant who previously worked at the center and other federal facilities.
Many inmates prefer to purchase food, as well as clothes and toiletries, through the Brooklyn jail’s commissary. A list of commissary items shows that peanut butter costs $4.15, a pair of sneakers are $79.95 and an MP3 player is $88.40. A pouch of mackerel fillets costs $1.30, up 30% from $1 in 2020.
Baroni, the prison consultant, said that when Bankman-Fried moves to a federal prison he will likely bring his mackerel packets with him. Baroni said he paid four macks for his own haircut while in prison.
“The mack currency system is far more stable than crypto,” he said.
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