According to the submitting dated September 11, 2023, the overall worth of FTX Bahamas Properties has been assessed to be value $199 million. The court docket submitting stated that the 38 properties within the Bahamas with $222 million e-book worth have been appraised at $199 million. This is a vital growth within the case, within the context of the money diversion allegations confronted by FTX founder Sam Bankman-Fried.
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$199 Million Worth Property In Bahamas
The firm revealed that $2.2 billion value in money, crypto, fairness and actual property worth was obtained by Sam Bankman-Fried, Nishad Singh, Zixiao Gary Wang, and Caroline Ellison amongst 46 others. The submitting confirmed that the FTX Bahamas properties included 15 properties by the title Albany Marina Residences value $151 million and $34 million throughout 5 extra properties. Further, the crypto change acknowledged within the submitting that it has organized about $7 billion in belongings together with $1.16 billion value of Solana ($SOL) and $560 million value of Bitcoin ($BTC) as a part of a crypto portfolio value $3.4 billion.
In November 2022, CoinGape reported that Sam Bankman-Fried’s mother and father and senior FTX executives have bought a number of properties throughout the Bahamas. At the time, the official property information have been reported to have proven a complete value of $121 million within the 2 years earlier than the FTX collapse. In a latest growth, the FTX founder has sought the court docket a aid of 5 days every week outdoors the court docket for engaged on his protection case.
Political Donations Made By SBF
In an attention-grabbing revelation, the crypto change had additionally talked about that $86.6 million in political and charitable donations have been paid to 3rd events. It has been reported that the FTX founder has made one of many greatest donations for US president Joe Biden’s 2020 political marketing campaign. In this respect, Bankman-Fried is dealing with marketing campaign finance violations within the US Courts.
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