Former FTX CEO Sam Bankman-Fried has found a new commodity to trade while in jail—fish. According to a report by The Wall Street Journal on Nov. 23, Bankman-Fried traded four packets of Mackerel, known as “macks” in prison, for a haircut before his criminal trial last month. Mackerel packets have become the hottest trading commodity in United States prisons since the ban on tobacco products, with postage stamps and soup packets following closely behind in value.
The Metropolitan Detention Center (MDC) where Bankman-Fried is housed sells mackerel packets for $1.30, and Bankman-Fried is reportedly sharing a cell with former Honduran president Juan Hernández and a former senior Mexican police officer.
Social media pundits raised questions about the legitimacy of the reports, but controversial tech figure Martin Shkreli, known as “pharma bro,” confirmed that macks are indeed a staple currency in U.S. jails. In a post on X (formerly Twitter), Shkreli claimed that paying four macks for a haircut was a “rip off” but noted that it was still less than paying someone a book of stamps. He also warned against holding too many mack packs, as having more than 500 becomes suspicious.
It’s worth noting that as a vegan, Bankman-Fried would not consume mackerel, making them a more easily traded commodity for the recently convicted former billionaire. Bankman-Fried’s request to be released from prison while he awaits his sentencing hearing was denied by the court of appeals on Nov. 21. His sentencing hearing is currently scheduled for March 28 next year, after he was found guilty of seven fraud- and money laundering-related charges on Nov. 2.