Sam Bankman-Fried, co-founder of bankrupt FTX, said he was in the Bahamas on Saturday, Reuters citing a text message from him.
Bankman-Fried denied rumors that he was flying to South America.
FTX CEO Says He’s In The Bahamas
When asked by Reuters if he had flown to Argentina, Bankman-Fried replied with a text message: “No”. He told Reuters he was in the Bahamas.
Cryptocurrency exchanges FTX, FTX US and trading firm Alameda filed for bankruptcy on Friday. Since then, FTX has been rocked by a mysterious token launch of at least $662 million.
Ryne Miller, general counsel for the US branch, described this as “unauthorized transactions” on Twitter and said that FTX has started moving digital assets to cold wallets (non-internet wallets) to mitigate the damage.
Bankman-Fried has yet to respond to a request for comment.
Allegedly, everyone in the company’s offices was asked to “evacuate the building.” There were reports last night in the Bahamas that FTX was hacked and all funds suddenly disappeared.
This is where the airplane issue comes into play. Earlier this morning, Flightradar24 reported that the most-followed flight in the world was a private jet flying from the Bahamas to Argentina and said to be on board with Bankman-Fried.
Argentina is an unlikely target given the country’s extradition rules. The country has an agreement with the United Kingdom in this area.
The 30-year-old SBF founded FTX in 2019 and has amassed nearly $17 billion in personal wealth, guiding it to become one of the largest cryptocurrency exchanges.
*Not investment advice.
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