Sam Bankman-Fried Is Reportedly Selling His Luxury Penthouse

The former FTX CEO Sam Bankman-Fried is rumored to be selling his luxury 12,000-square-foot penthouse in Albany Resort on the New Providence island in the Bahamas where the failed crypto exchange company FTX was headquartered.

While the listing has been up since at least May 6, 2021, based on a Wayback Machine archive, the property does look very similar to the Bahamas residence featured in Bankman-Fried’s earlier videos, particularly this pre-FTX collapse feature by Nas Daily.

The former FTX CEO allegedly lived in this five-bedroom, $39.95-million penthouse with nine members of his inner circle, including FTX co-founder and Chief Technology Officer Gary Wang, FTX Director of Engineering Nishad Singh, and Alameda Research CEO Caroline Ellison.

An unidentified source familiar with the matter told CoinDesk that “the whole operation was run by a gang of kids in the Bahamas.”

Reports say that Bankman-Fried, along with Wang and Nishad are in the Bahamas under the close watch of the authorities. Ellison, meanwhile, is allegedly currently in Hong Kong.

Separately, Bahamian authorities on Sunday released a statement saying that financial investigators are working closely with the Securities Commission of the Bahamas to investigate whether there was any “criminal misconduct” committed in the collapse of FTX. 

Information for this briefing was found via Twitter, Coindesk, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply