Last Updated on 12 September 2023 by Admin

The overall value of FTX Bahamas Properties was reported to be $199M in a document dated September 11. The 38 Bahamas properties with a total book value of $222 million were valued at $199 million, according to the court filing. In light of the financial diversion charges leveled against FTX co-founder Sam Bankman-Fried, this is a significant turn of events.

The corporation said that 47 individuals, including SBF, had received compensation totaling $2.2 billion in cash, cryptocurrency, stock, and real estate value. The report revealed that FTX Bahamas owned 15 properties under the name Albany Marina Residences with a combined value of $151 million, in addition to 5 properties with a combined value of $34 million.

In addition, the cryptocurrency exchange said in the SEC filing that it has a cryptocurrency portfolio valued at $3.4 billion, which includes $1.16 billion in Solana and $560 million in Bitcoin.

Trial Underway

It was revealed in November of 2022 that Sam Bankman-Fried’s parents and high-ranking FTX officials had acquired a number of properties in the Bahamas. According to reports, official property records indicated a total value of $121 million in the two years before to the FTX bankruptcy. Recently, the FTX founder has asked the court for permission to spend five days a week away from court in order to prepare his defense.

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The cryptocurrency exchange also disclosed some intriguing political and philanthropic contributions totaling $86.6 million. The creator of FTX reportedly made a significant payment to presidential campaigns. In this regard, US courts are investigating possible breaches of campaign funding law committed by SBF.

Sameer Ahmed

By Sameer Ahmed

Sameer is passionate about writing and doing research on financial aspects of the modern world. His love for analytics brought him to this field. Contact:

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