Wednesday, March 29, 2023

FTX Sam Bankman-Fried Is Selling His Albany $40 Million Luxury Penthouse

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Update: The listing has been labeled a “web malfunction” and has since been removed. Nikki Boeuf, President of the Bahamas Real Estate Association said, “It’s unfortunate because the integrity of the industry is at stake.

Now disgraced crypto-white knight Sam Bankman Fried is selling his $40 million house nestled in the western end of Nassau, Bahamas.

The 12,000-square-foot five-bedroom luxury penthouse was reportedly put on the market after Bankman-Fried filed for bankruptcy sending the crypto market spiraling out of control.

The penthouse, where Bankman-Fried and his nine other roommates lived and worked,  features a private elevator, and a private balcony with a spa and lounge area.

It is considered, “the ultimate in luxury waterfront living in the Caribbean” according to its listing.

FTX, before the collapse, was the second biggest crypto exchange and was headquartered in the Bahamas. Bankman-Fried stepped down as CEO last week as he work to recoup the billions of customer funds lost in the crash.

Bankman-Fried lost an estimated 14 billion dollars overnight and his company was once valued at 32 billion dollars.

Reports say Bankman-Fried’s sale of his Bahamas penthouse is the first indication of his effort to sell off assets.

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