1 year ago
Bankrupt crypto speech FTX, alongside elder executives astatine the steadfast and parents of Sam Bankman-Fried, bought astatine slightest 19 properties worthy $121 cardinal successful the Bahamas wrong the past 2 years, Reuters reported Nov. 22.
According to the report, FTX purchased 7 condominiums successful a edifice assemblage called Albany for $72 cardinal -one of these condos is worthy $30 million. The condos were said to beryllium utilized arsenic residences by the firm’s cardinal personnel.
Reuters added that FTX elder executives similar its erstwhile caput of engineering Nishad Singh, co-founder Gary Wang, and SBF purchased condos worthy betwixt $950,000 and $2 cardinal for residential use.
The study further revealed that the parents of the exchange’s founder, professors Joseph Bankman and Barbara Fried, were signatories to a $16.4 cardinal abrogation home. Reuters reported that SBF’s parents said they person been “seeking to instrumentality the deed to the institution and are awaiting further instructions.”
FTX’s caller CEO, John Ray, successful a tribunal filing, noted that the exchange’s funds were utilized to “purchase homes and different idiosyncratic items for employees and advisors.”
FTX moved its office from Hong Kong to the Bahamas successful September 2021. The speech office was situated connected a crippled of onshore worthy $4.5 million. Media reports uncover that signs of the speech person been removed, with 1 saying that operation connected the task ne'er really began.
The station FTX bought $121M properties successful Bahamas wrong 2 years appeared archetypal connected CryptoSlate.
English (US) 