The head of collapsed crypto exchange FTX said, Sam Bankman-Fred He’s still in the Bahamas, where rumors have swirled overnight that the former CEO of now-bankrupt cryptocurrency exchange FTX has fled to South America.
FlightRadar24 tweeted early Saturday morning that crypto billionaire Sam Bankman was flying from Nassau to Argentina (Argentina had an extradition treaty with the US and carried out an extradition in October, so not an ideal destination for someone who might be looking to escape authorities in the US). ).
read more: Founder of FTX who lost $15 billion of his fortune in one day!
Pinkman Fried confirmed that he has been residing in the Bahamas since moving his entire residence there last year, according to Archyde.com, and Al Arabiya.net reviewed it.
The speculation regarding the whereregardings of Bankman Fried comes as authorities close in on Bankman Fried and his bankrupt crypto empire.
Earlier this year, the exchange was valued at $32 billion, and Bankman Fried has been described as the white knight of cryptocurrency, having bailed out several digital asset firms. Now, the former CEO is said to be facing investigations by the Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.
And just weeks ago, Sam Bankman Fried was considered the crypto version of the legend of the financial sector, John Pierpont Morgan, who founded the Wall Street giant and the largest American bank, “JP Morgan” more than a century ago, as some placed their bets on them in terms of the size of wealth, and his success in Rescue the crypto industry that has seen a series of cascading collapses.
Bankman has backed most of the struggling crypto projects including BlockFi, Voyager Digital, and Celsius. He also invested in Robin Hood Markets, fueling speculation that he would take over the trading app. As Hu said last year, once his cryptocurrency firm FTX gets big enough, it might swallow CME Group or Goldman Sachs Group.
read more: FTX’s bankruptcy renews calls to regulate the cryptocurrency market
A few days ago, Bankman lost regarding $15 billion of his wealth in one day.
He seemed ready to use his fortune — $26 billion at its peak — to shape the world, giving away millions to the Democrats and promising that one day he would give all of his fortune to political causes and philanthropy. Now the future of all this is in doubt.
