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 several felony counts, according to a Business Insider investigation.

The humiliated crypto-billionaire is said to have been bartering, exchanging meals for various services within the prison.

SBF, the former CEO of FTX, trades fish for services.

According to the study, after cigarettes were forbidden, mackerel, also known as “macks” among inmates, became the currency of choice in federal prisons. The appeal of the fish arises from its consistency and worth in the jail economy.

Former inmates, such as attorney Larry Levin, have taken mackerel as payment from fellow inmates, utilizing it to obtain services such as beard cuts and shoe shines.

According to Business Insider, the demand for mackerel became so great that suppliers such as Global Source Marketing saw increased sales.

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FTTUSD
FTTUSD price chart (source: TradingView)

In a jail setting where convicts do not have access to traditional or digital cash, objects with consistent value, such as particular food items and stamps, serve as money substitutes.

Fish have been widely used as a medium of trade in federal prisons since 2004, following the tobacco ban.

FTT Surges with Outstanding Gains

The value of FTT, the native token of the FTX cryptocurrency exchange, has skyrocketed in recent weeks. With significant gains throughout multiple timeframes and a market valuation of 1.5 billion,

Over the last 24 hours, FTT has increased by 21%, demonstrating the token’s upward velocity. A strong performance over the previous week, which saw a 26% increase, complements this short-term spike.

The major standout, however, is FTT’s rise during the last 14 and 30 days. FTT has increased by an astonishing 100% in the last two weeks, while the 30-day period has increased by an astounding 315%.

These increases indicate the increased demand for and investor interest in FTT, as whispers of the exchange’s likely revival swirl within the crypto community.

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