216
With no access to crypto, disgraced FTX founder Sam Bankman-Fried is now trading fish to pay for services in prison
(www.businessinsider.com)
this post was submitted on 24 Nov 2023
216 points (89.1% liked)
Technology
59675 readers
3243 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
This is the best summary I could come up with:
It didn't take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York's Metropolitan Detention Center.
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.
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.
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.
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.
The original article contains 387 words, the summary contains 159 words. Saved 59%. I'm a bot and I'm open source!
Thanks bot