In the wake of FTX’s troubles and the ensuing legal repercussions, Sam Bankman-Fried, a prominent figure in the crypto world, has shifted his attention from digital currencies to a rather unconventional form of exchange – mackerel.

Within the somber walls of a prison, where conventional and virtual currencies are deprived, the quest for substitutes begins. In this gloomy environment, ordinary commodities like specific food items and stamps emerge as poignant stand-ins for money, offering a ray of value amid an otherwise desolate economic backdrop.

While waiting for his sentence on seven criminal charges, this former crypto luminary has found himself delving into the intricacies of surviving behind bars at Brooklyn’s Metropolitan Detention Center.

Dubbed “Sam Bankman-Fried Learns to Hustle Behind Bars,” this newfound knowledge has been cultivated through his interactions with dormitory companions, including a former president of Honduras awaiting trial and a recently convicted high-ranking Mexican law enforcement official, as sources familiar with the situation have revealed.

The practice of using food items as currency, most notably mackerel, has become commonplace in federal prisons since the prohibition of cigarettes in 2004. Referred to as “macks” in prisoner slang, mackerel underscores a system where stable and tangible goods have replaced traditional hard-to-obtain money.

According to the Wall Street Journal, Sam Bankman-Fried has been exchanging pouches of mackerel, commonly costing $1.30 in the Brooklyn jail’s commissary, for various services. Notably, he even bartered for a haircut with another prisoner—a testament to the versatility of mackerel as a medium of exchange.

Ironically, Bankman-Fried follows a vegan lifestyle, making mackerel an unlikely food choice for him. However, this inadvertently aligns with his circumstances, allowing mackerel to become a more accessible commodity for him to trade with fellow inmates. This newfound insight also enhances his understanding of the prison economy.

Mark Botnick, Bankman-Fried’s spokesperson, noted, “Sam’s doing the best he can under the circumstances,” offering a glimpse into the challenges and adaptations he faces behind bars.

His bail being revoked in August due to probable cause of witness intimidation, Bankman-Fried denies these claims but has remained in custody ever since. Earlier this month, he was found guilty of embezzling billions of dollars from FTX clients, while also deceiving lenders and investors. Following his scheduled sentencing hearing on March 28, he will serve his term in a federal prison.

Aside from the fraud allegations, Bankman-Fried is confronted with other charges, potentially resulting in a sentence of up to 110 years. In addition, he is set to face trial on bribery-related charges involving politics.

As this enthralling drama continues to unfold, Sam Bankman-Fried’s transition from a crypto kingpin to a mackerel trader embodies the harsh reality of survival and adaptation within the harsh confines of prison life.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.