cryptoknowmics.com
According to official documentation cited by Reuters on Tuesday, the now-bankrupt cryptocurrency exchanges operator FTX, the parents of its founder Sam Bankman-Fried, and the company's senior executives purchased at least 19 property in the Bahamas during the previous two years totaling nearly $121 million.
FTX Property Holdings
According to the report, FTX Property Holdings, a division of FTX, acquired 15 properties totaling around $100 million in 2021 and 2022. The priciest real estate acquisition was a $30 million penthouse in a resort named Albany. Ryan Salame, the president of FTX Property, is said to have executed the deed on March 17, and it said that it was meant as a home for key personnel. Reuters said that it was unable to identify the residents of the flats. However, Bankman-Fried revealed to Reuters last week that he shared a residence with nine other coworkers and that FTX offered food vouchers and transportation service on the island.
Three Other Properties
FTX co-founder Gary Wang, Bankman-Fried, and Nishad Singh, the former head of engineering at FTX, are said to have purchased three residences at One Cable Beach, which cost between $950,000 and $2 million, for domestic use. Reuters looked through the Bahamas Registrar General's Department's property records. The news source was informed by a security officer that FTX employees who had earlier this month left the offices did not return.