According to sources close to the case, FTX’s founder, FTX, is adjusting to his new life at the Metropolitan Detention Center in Brooklyn, New York. According to sources, Bankman-Fried is becoming acquainted with the prison’s distinct economy, having apparently exchanged mackerel packets for a haircut.

Insiders recently commented on former FTX CEO Sam Bankman-Fried’s adjustment to prison life. Bankman-Fried was detained in the Metropolitan Detention Center (MDC) in Brooklyn, New York, after his bail was revoked due to charges of witness tampering.

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According to James Fanelli and Corinne Ramey’s Wall Street Journal (WSJ) investigation, people “familiar with the matter” disclose that Bankman-Fried discovered the unique currency of mackerel packets in prison.

According to these reports, Bankman-Fried, the former crypto CEO, has adapted by utilizing “mack packs” as payment for services such as haircuts while imprisoned at MDC.

Mackerel packets have been a common form of currency among prisoners since 2004, when cigarettes were prohibited in federal prisons, boosting mackerel packs as the preferred trade medium. It is well known that, due to scarcity, these mackerel packets, which are priced at about $1 in the jail commissary, might fetch a higher price.

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FTTUSD
FTTUSD price chart (source: trading view

In an unusual twist, the WSJ also alleges that Bankman-Fried has been providing cryptocurrency trading advice to MDC correctional guards. Furthermore, he is said to be sharing a dormitory with former Honduran President Juan Orlando Hernández, who is accused of receiving bribes from drug traffickers.

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