FTX court filing reveals former Alameda CEO’s $2.5M yacht purchase


FTX Debtors have disclosed a sequence of monetary statements revealing any transactions that benefited firm executives shortly earlier than the foremost cryptocurrency change’s collapse in November 2022.

In a latest court docket filing with the USA Chapter Courtroom for the District of Delaware, a number of funds that immediately benefited senior firm executives at FTX and Alameda Analysis have been disclosed. Particularly funds or property transfers executed inside one yr previous the collapse of FTX.

Courtroom Submitting in the USA Chapter Courtroom for the District of Delaware. Supply: Kroll

In March 2022, a transaction of $2.51 million was directed from the corporate to the American Yacht Group, benefiting former Alameda Analysis co-CEO Sam Trabucco.

Only a few months after this transaction, Trabucco confirmed possession of a ship whereas informing his followers about his resignation in an August 2022 tweet.

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The submitting additionally revealed that Bankman-Fried and FTX co-founder Gary Wang bought Robinhood shares in April 2022, totalling $35,185,242. They continued their acquisitions of Robinhood in Might 2022, spending an extra $19.45 million. It discloses that Bankman-Fired held a 90% share possession, with Wang proudly owning the remaining 10%.

Lately, Robinhood declared that it has purchased again all shares beforehand held by FTX and Alameda Analysis.

On Aug. 31, Robinhood completed the purchase of 55,273,469 shares for roughly $606 million. Following the acquisition announcement, Robinhood’s chief monetary officer Jason Warnick expressed the corporate’s satisfaction with the result:

“We’re pleased to have accomplished the acquisition of those shares and sit up for executing on our progress plans on behalf of our prospects and shareholders.” 

A number of money funds have been disclosed to executives together with Bankman-Fried and Wang, in addition to FTX director of engineering Nishad Singh, former FTX chief advertising officer Darren Wong, and former FTX chief working officer Constance Wang, all throughout the twelve months previous to the collapse.

Nevertheless, it notes that the disclosures are restricted to fiat foreign money. “Responses to this query don’t at the moment embrace all transfers of cryptocurrency, different digital property or different property,” it said.

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