From Crypto To Catch: Disgraced FTX Founder Turns To Trading Fish In Prison
23 Novembro 2023 - 7:30PM
NEWSBTC
According to a report by Business Insider, Sam Bankman-Fried (SBF),
co-founder and former CEO of FTX, has adapted to the economic
system of New York’s Metropolitan Detention Center (MDC), where he
is currently awaiting sentencing on multiple felony counts.
The disgraced crypto-billionaire has reportedly been bartering,
using food as currency in exchange for various services within the
prison. Former FTX CEO SBF Trades Fish For Services Per the report,
mackerel, a fish commonly referred to as “macks” among inmates,
emerged as the currency of choice in federal prisons after
cigarettes were banned. The fish’s popularity stems from its
stability and value within the prison economy. Formerly
incarcerated individuals like attorney Larry Levin have accepted
mackerel as payment from fellow prisoners, using it to acquire
services such as beard trims and shoe shines. The demand for
mackerel became so significant that suppliers, including Global
Source Marketing, witnessed increased sales, according to Business
Insider. Related Reading: AVAX Holders Beware: $204 Million Token
Unlock Could Trigger Price Crash Today In a prison environment
where inmates lack access to traditional or digital currency,
products with steady value, such as certain food items and stamps,
serve as substitutes for money. Mackerel and other stable
commodities like tuna become a means of exchange, with their value
pegged to the dollar. This economic logic allows inmates to engage
in various transactions while maintaining a semblance of a barter
system. The use of fish as a medium of exchange in federal prisons
has been widespread since 2004, following the cigarette ban.
Sam Bankman-Fried faces sentencing on March 28, 2024, for charges
that include wire fraud and conspiracy to commit money laundering,
with a potential prison term of up to 110 years. Additionally, SBF
is set to stand trial for separate counts related to political
bribery. FTT Surges with Impressive Gains FTT, the native
token of the FTX cryptocurrency exchange, has seen a remarkable
surge in value in recent weeks. With substantial gains across
various timeframes and an impressive market capitalization of 1.5
billion, FTT has cemented its position among the top 50 tokens in
the crypto market. Related Reading: Is Dogecoin About To
Reverse? Key Factors To Watch Over the past 24 hours, FTT has
experienced a significant increase of 21%, showcasing the token’s
upward momentum. This short-term surge is complemented by a strong
performance over the past week, with a notable rise of 26%.
However, the real standout lies in FTT’s gains over the past 14 and
30 days. Within the last two weeks, FTT has skyrocketed by an
impressive 100%, while the 30-day timeframe has seen an astounding
surge of 315%. These gains highlight the growing demand and
investor interest in FTT as rumors of a possible reboot of the
exchange circulate within the crypto community. Featured image from
Bloomberg, chart from TradingView.com
Dogecoin (COIN:DOGEUSD)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Dogecoin (COIN:DOGEUSD)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024