Wednesday, October 8, 2025

Latest

Court Documents Reveal That FTX Planned to Buy An Island to Build A Doomsday Bunker

Recent court filings show that the failed crypto exchange FTX had doomsday plans in mind – but the plans had nothing to do with the exchange — which has been described as a Ponzi scheme — actually failing.

According to the suit filed by attorneys from Sullivan & Cromwell, Gabe Bankman-Fried, the younger brother of Sam Bankman-Fried and a former top FTX lobbyist, considered purchasing the island nation of Nauru in the Pacific to establish a fortified apocalypse bunker state. The plan was to safeguard his “effective altruism” allies…and create a genetically enhanced human species.

The younger Bankman-Fried described the ultimate strategy in a memo, writing that the plan was “to purchase the sovereign nation of Nauru in order to construct a ‘bunker/shelter’ that would be used for some event where 50%-99.99% of people die [to] ensure that most EAs (effective altruists) survive.” 

During the heyday of the exchange, disgraced founder Sam Bankman-Fried advocated effective altruism, a philosophy that focuses on encouraging people to grow their wealth so they can make substantial contributions to humanity. 

RELATED: Future Fund Beneficiaries Still Scrambling Months After FTX Collapse

According to the memo, his brother Gabe, along with an unnamed philanthropic officer from FTX, explored the idea of acquiring Nauru to not only create a secure base for those who subscribed to the philosophy but also because he claimed the island nation had “sensible regulation around human genetic enhancement,” that they could “build a lab there.”

According to a report from CNBC, a representative for Nauru has clarified that the nation has never been for sale.

As of this writing, it has not been confirmed whether the memo was written in jest or if the younger Bankman-Fried was actually planning to make superhumans out of the FTX crew. But, given Nauru’s history, the Bankman-Frieds were likely interested in the Pacific nation for different reasons.

RELATED: Late to the Party? Regulator Cancels FTX Australia’s License

Nauru, located in Micronesia, northeast of Australia, has a history of being a haven for money laundering until 2002, when the US Treasury designated it a money-laundering state. In the late ‘90s, Russian banks illegally transferred billions of dollars to bank accounts in Nauru. 

Gabe noted in the memo that “probably there are other things it’s useful to do with a sovereign country, too,” in case the world doesn’t end.


Information for this story was found via Qz.com, CNBC, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Sam Bankman-Fried Wants All Charges Dropped–Except For Fraud And Money Laundering

FTX founder Sam Bankman-Fried petitioned to a federal judge in New York on Monday to...

Tuesday, May 9, 2023, 08:16:36 AM

“I’m Not Sure”: Highlights of Sam Bankman-Fried’s Cross-Examination

It seems amnesia is what the former FTX chief plans to use as his defense...

Tuesday, October 31, 2023, 01:36:51 PM

“Hubris, Incompetence, And Greed”: How FTX Failed, According To Debtors’ Report

On Sunday, FTX and its affiliated debtors released their first report which identifies and discusses...

Monday, April 10, 2023, 12:26:00 PM

SoftBank Shares Plunge As Vision Fund Reports More Losses Including $100 Million In FTX

SoftBank Group Corp (TYO: 9984) shares sank almost 13% on Monday after the company’s Vision...

Monday, November 14, 2022, 05:12:00 PM

UPDATED: SBF Finally Agrees to US Extradition

Crypto fraudster and former FTX CEO Sam Bankman-Fried can’t bare to sleep another night in...

Monday, December 19, 2022, 11:41:41 AM