A Look Into Sam Bankman Fried’s $40 Million Penthouse, What Was Discovered?

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The founding father of failed crypto trade FTX, Sam Bankman Fried (SBF), has change into controversial within the crypto area. In a latest report by Rolling Stone, reporter Tracy Wang checked out his $40 million penthouse in his former residence within the Bahamas.

Sam Bankman Fried Life In The Tiger Wooden Personal Apartment

Bankman Fried’s residence was positioned within the marina of Albany, Bahamas, the report claims. The property was one of many many built-in personal luxurious condominiums owned by golf legend Tiger Woods and pop singer Justin Timberlake.

Wang visited the luxurious complicated, which additionally operated as dwelling quarters for a few of FTX’s workers, two months earlier than the corporate went bankrupt. At the moment, Sam Bankman Fried was nonetheless a champion for the business and a poster boy for “efficient altruism” and the “subsequent Warren Buffer,” because the report said.

The report met with SBF at a luxurious restaurant within the Bahamas the place “avocado toast runs $22” and was left to choose up the tab. On the crypto founder’s luxurious life, Wang claims that it might shift from that of a billionaire to that of an undergrad scholar:

Bankman-Fried’s way of life was luxurious, nevertheless it didn’t match the picture of the Lamborghini-driving trade founder (…) Bankman-Fried and his 9 roommates might’ve had a personal chef — and so they did, a company chef catered meals to the workplace — however their residence freezer was full of Dealer Joe’s $2.99 microwavable vegetable biryani, flown in from Miami.

The report factors out that life on the luxurious apartment was remoted, so the corporate bought extra models to host guests and workers’s buddies. As well as, the reporter witnessed the weird working hours of the executives and the best way private lives blended with the work atmosphere:

(I noticed no proof of a “polycule,” a community of polyamorous relationships, which some media studies speculated had occurred at FTX.) In all, it was an organization led by an govt who appeared to thrive off of blurred traces and the dearth of boundaries: social, skilled, and romantic.

Below the brand new FTX administration, led by John Ray III, the corporate is making an attempt to get better property to make its collectors entire. The buying and selling venue filed for chapter in late 2022 after a crash within the worth of Bitcoin and different cryptocurrencies led to a financial institution run on the platform.

The crypto trade was allegedly co-mingling its prospects’ property with that of its buying and selling arm, Alameda Analysis. SBF is about to face trial for fraud, conspiracy to commit fraud, and conspiracy to commit cash laundering.

In months, the crypto founder went from dwelling in a $40 million penthouse to probably spending over a century in a US jail if he’s convicted of the fees.