FTX and financial documents: $2.5 million in cryptocurrency funds used to buy a yacht
Key Points:
- FTX, the failed crypto exchange, filed a financial document revealing that former CEO Sam Bankman-Fried received over $1 billion in cash prior to FTX’s collapse.
- The document also shows that $2.5 million in cryptocurrency funds were used to purchase a yacht for Samuel Trabucco, the former co-CEO of Alameda Research.
- Other extravagant expenses made with FTX funds include multi-million dollar properties in the names of insiders like former Alameda CEO Caroline Ellison.
- FTX co-founder Nishad Singh made a $500,000 donation to a political group called “People for the Progressive Governance.”
- FTX’s senior members are facing legal charges, with SBF pleading not guilty to criminal fraud charges and others reportedly agreeing to plea bargains.
FTX and Samuel Trabucco’s yacht: where has the former co-CEO of Alameda Research gone?
Key Points:
- While other former FTX senior members are facing legal consequences, Samuel Trabucco seems to have disappeared without a trace.
- Trabucco was last seen in the Bahamas in spring 2022, according to a report. His yacht, named “Soak my Deck,” was first reported in December 2022.
The disappearance and the crypto-community theories about Trabucco
Key Points:
- Since the FTX collapse, Samuel Trabucco has remained silent and absent from the public eye, leading to speculation within the crypto community.
- Trabucco was accused of mismanaging Alameda Research by his colleague Caroline Ellison in 2019, adding to the theories surrounding his involvement in FTX’s collapse.
- There were rumors in December 2022 that Trabucco had been blocked by law enforcement.
Hot Take: The financial document filed by FTX raises serious concerns about the misuse of funds and the extravagant spending by its former executives. Samuel Trabucco’s disappearance only adds to the intrigue and speculation surrounding the collapse of FTX. The crypto community is left wondering about his true involvement and whether he will ever resurface to address the allegations against him.
By
By
By
By