Bankrupt cryptocurrency company spent 117 million on homes in the Bahamas

Cryptocurrency broker FTX went bankrupt earlier this month. Most of the properties purchased are luxury beachfront homes.
 

Days after cryptocurrency broker FTX filed for bankruptcy in the U.S., it became public that the company's founder, Sam Bankman-Fried, his family and other executives bought at least 19 properties in the Bahamas, having disbursed a total of $121 million in the past two years (about 117 million euros to current exchange rate).

Most of ftx's purchased and affiliated properties are luxury beachfront homes. Seven of these homes concern condos in the Albany tourist community and together cost more than $72 million (about 70 million euros), Reuters reports.

These properties were purchased by an FTX unit and would be used as the company's "residence for key employees," according to the deeds of the homes to which the same medium had access. But there's one exception: the beach house in the gated community in Old Fort Bay is booked as the holiday home of Sam Bankman-Fried's parents, who are now trying to return the property to FTX.

Cryptocurrency broker FTX, which filed for bankruptcy earlier this month after a wave of customer outoffers, established its head base in the Bahamas in September last year. And although it is known that both the American company and its employees bought real estate in this archipelago situated in the Atlantic Ocean, only now with the records of properties has come to public the wave of real estate acquisitions and their true uses.

The North American FTX has even become the third largest cryptocurrency broker in the world. And after announcing liquidity problems, company founder Sam Bankman-Fried resigned.

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