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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.

Following its shocking announcement to acquire FTX which is on the verge of collapse, Binance is walking away from the deal.

Binance Founder and CEO Changpeng Zhao, the Chinese-Canadian billionaire who is the largest crypto exchange, posted to Twitter, “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.”

Its initial plans to rescue FTX, the second biggest exchange, surprised many in the crypto world.

Now that Binance is backing out, reports are that FTX may be filing for bankruptcy. A person privy to the situation said FTX was short $US 8 billion, as it attempts to rescue the company through the financing of debt and/or equity.

The crypto stock market is now plummeting with Bitcoin tumbling to the lowest levels in two years, as Binance walked away from FTX.com.

It was also reported that FTX CEO Sam Bankman-Fried who was worth about $15.2 billion lost $14.6 billion of his personal money, overnight.

Bankman-Fried moved from Hong Kong to set up his headquarters in the Bahamas this year, boasting that “The Bahamas is one of the few places to set up a comprehensive framework for Crypto.”