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And More November 13, 2022 1 min read

Sam Bankman-Fried Denies Rumors of Fleeing to South America, Reuters Says

And More ı By Rochdi Rais

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Sam Bankman-Fried

Sam Bankman-Fried told Reuters he is still in the Bahamas, as rumors spread overnight that the embarrassed ex-CEO of the now-bankrupt crypto exchange FTX had run off to South America.

FlightRadar24 tweeted early Saturday morning that the crypto billionaire was flying from Nassau to Argentina.

Reuters asked Bankman-Fried whether he had flown to Argentina, and he replied, “Nope,” by text. He added that he remained in the Bahamas, which became his full-time residence last year.

On Thursday, Bankman-Fried tweeted that he would be ditching his trading house, Alameda Research, and then on Friday, FTX — the digital asset exchange that Bankman-Fried founded in 2019 — filed for Chapter 11 bankruptcy protection in the U.S. That same day, Bankman-Fried stepped down as CEO. The Financial Times is reporting that a day before filing for bankruptcy protection, FTX’s global exchange had $900 million in “easily sellable assets” against $9 billion of liabilities.

Before the collapse, the exchange was valued at $32 billion, and Bankman-Fried. Now, its ex-CEO is reportedly facing probes by the Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. 

 

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Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

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