$40M Bahamian Digs Used by FTX Cryptocurrency Became Haven for Drugs, Partner Swapping - The Jewish Voice
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$40M Bahamian Digs Used by FTX Cryptocurrency Became Haven for Drugs, Partner Swapping

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$40M Bahamian Digs Used by FTX Cryptocurrency Became Haven for Drugs, Partner Swapping

Edited by: TJVNews.com

It would appear that the digs that FTX’s Chief Executive Order, Sam Bankman-Fried lived in has seen its share of wild living.

According to a recent report in the New York Post, Bankman-Fried lived with 10 roommates in an ultra-luxurious penthouse pad in at Albany, Bahamas. The group lived at the swanky $40 million apartment and also considered it to be the nerve center for the cryptocurrency giant FTX — the $15 billion company that went recently belly up amid allegations of fraud and mismanagement — according to accounts of staffers who lived and worked there.

The over the top Bahamian headquarters included six bedrooms, two elevators, manicured grounds, a golf course and a boat basin packed with super yachts, according to the Post report.

The partying and highly unusual lifestyle that prevailed was fueled by drugs, vegetarian food and open sexuality which SBF and some of his employees partook in on a regular basis, according to the report.

The Post reported that the group dropped speed, engaged in polyamorous relationships and created a frat house situation. They pulled all nighters and SBF would play video games while on Zoom calls pertaining to a billion dollar investment.

A well-heeled Bahamian local told The Post of the FTX group, “They would walk around in sweats and T-shirts. That was not the Albany lifestyle that residents there signed up for. The typical dress was Ralph Lauren sport jackets. Sam and his group did not seem to fit the part.”

“They worked crazy hours and Albany accommodated them,” said the well-heeled Bahamian, who added that a ritzy restaurant on the grounds of the resort turned into a 24-hour operation to cater to the FTX crew. “It became the equivalent of a company cafeteria,” he added, according to the Post report.

The Post reported that a figure in Miami’s high society, recalling the FTX group’s attendance at a crypto conference put on by SBF at the Baha Mar resort in the Bahamas in April was not impressed.

“They were staying up all night, snorting Adderall, smelling like they hadn’t showered in a week,” he alleged to The Post.

According to a tweet from Bankman-Fried, the FTX boss said: “Stimulants when you wake up, sleeping pills if you need them when you sleep” — that was the formula for FTX’s success, as was reported by the Post.

The Post indicated  that according to a report by CoinDesk, there was an active polyamorous culture among the 10 roommates, “All 10 are, or used to be, paired up in romantic relationships with each other.”

It was alleged on the Twitter feed of @AutismCapital that SBF used a drug called EMSAM in patch form. The Post reported that It is a methamphetamine derivative used on-label to treat symptoms of Parkinson’s disease and is known to increase energy. According to Coindesk, “Bankman-Fried was … possibly suffering side effects of EMSAM (which include compulsive gambling).”

The AP reported that the company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure $740 million in assets so far, a fraction of the potentially billions of dollars likely missing from the company’s coffers.

The numbers were disclosed on Wednesday in court filings by FTX, which hired the cryptocurrency custodial company BitGo hours after FTX filed for bankruptcy on November 11, the AP reported.

The biggest worry for many of FTX’s customers is they’ll never see their money again, according to the AP report.  FTX failed because SBF and his lieutenants used customer assets to make bets in FTX’s closely related trading firm, Alameda Research. Bankman-Fried was reportedly looking for upwards of $8 billion from new investors to repair the company’s balance sheet, the AP story said.

Bankman-Fried “proved that there is no such thing as a ‘safe’ conflict of interest,” BitGo CEO Mike Belshe said in an email.

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