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Gungun Bhatia
Nov 22, 2022
by Gungun Bhatia

FTX, Bankman Parent Acquired $121M Bahamas Property

FTX Bahamas

Table of contents

  1. FTX Property Holdings
  2. Three Other Properties
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.

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bahamas FTX Sam Bankman-Fried Properties old fort bay caroline ellison joseph bankman barbara fried albany bahamas
FTX, Bankman Parent Acquired $121M Bahamas Property
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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