From $2.5 million yachts to $400,000 in DoorDash bills, here are Sam Bankman-Fried and other execs' wildest purchases with FTX and Alameda funds
Sam Bankman-Fried gave FTX staff lavish perks for food and Amazon delivery.
Tom Williams/CQ-Roll Call, Inc via Getty Images; REUTERS/Carlo Allegri; Stephen Brashear/Getty ImagesThat was partly thanks to excessive spending on luxury real estate, hotels, and a yacht, court filings show.Since the dramatic implosion of crypto exchange FTX last November, court filings and other reports have revealed the extent of executives' lavish spending habits.
Liquidation expert John J. Ray III took over the FTX CEO role from Sam Bankman-Fried to handle the bankruptcy.Bankruptcy lawyers said Alameda"bought planes, houses, threw parties, made political donations" withThe vast sums are hard to visualize, but it was partly thanks to this spending that customers have been left out of pocket.
After CoinDesk reported on close ties between Alameda and FTX, customers rushed to withdraw their deposits, but the crypto exchange didn't have the funds to cover them.From DoorDash and Margaritaville to lavish penthouses and commercials, here are the wildest expenses to be revealed in FTX's bankruptcy case:The ocean side Albany Resort, where Bankman-Fried lived, and its golf course.
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