FTX founder Sam Bankman-Fried, who remains behind bars after being convicted of fraud in connection with the collapse of his crypto empire, reportedly scored a fresh look ahead of his trial by using fish as currency.
Citing people familiar with the situation, The Wall Street Journal reported Bankman-Fried paid a fellow inmate at Brooklyn’s Metropolitan Detention Center to cut his signature curly locks by trading pouches of mackerel purchased from the facility’s commissary.
According to the outlet, the fish packets, known as “macks,” have replaced cigarettes as the currency of choice at federal prisons after officials banned smoking.
Bankman-Fried has been incarcerated since August when a assess revoked his bail for alleged witness tampering. He was found guilty earlier this month on seven federal charges, and his sentencing is slated for March 28.
Bankman-Fried made headlines at the beginning of the trial when he appeared in court with a cleaned-up look, sporting a trimmed-up coif and a suit after ditching the longer hairstyle and casual clothes he had become known for as CEO at FTX.
Prosecutors accused Bankman-Fried, who founded and controlled both FTX and sister hedge fund Alameda Research, of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors and instructing other executives at his businesses to do the same.
In the trial, he faced two counts of wire fraud and five conspiracy counts. The charges combined amount to a maximum sentence of 110 years behind bars, but sentencing guidelines may call for far less than that.
In addition to the fraud and conspiracy charges, Bankman-Fried is accused of violating campaign finance laws by using FTX customer funds to make billions in political donations through an illegal straw-donor scheme, and for allegedly bribing Chinese officials.
A second criminal trial against Bankman-Fried is slated to begin in March. He has pleaded not guilty to all charges against him.
FOX Business’ Suzanne O’Halloran contributed to this report.