FTX debtors disclosed a series of financial statements revealing transactions that benefited company executives shortly before the major cryptocurrency exchange collapsed in November 2022.
In a recent court filing with the U.S. Bankruptcy Court in Delaware, several payments that directly benefited FTX and senior executives of Alameda Research were disclosed. Specifically, payments or transfers of property executed within a year of the FTX crash.
However, FTX Debtors declares that it does not guarantee the absolute accuracy or completeness of the data and accepts no liability for errors or omissions.
In March 2022, the company entered into a $2.51 million deal with American Yachting Group, benefiting former Alameda Research co-CEO Sam Trabucco.
Months after the deal, Trabucco confirmed ownership of a vessel while informing his followers of his resignation in August 2022 tweet. Caroline Ellison, the former co-CEO of the Alameda, joined Trabucco in responding to his tweet, expressing her wish that he would enjoy more time on board.
and @alamedatrabucco. I have missed having him around in recent months, but I am so proud of all the other Alameda employees who stepped up and are more excited than ever for our future. I hope he has a great time on board! https://t.co/HqA2gz0FvL
— Caroline (@carolinecapital) August 24, 2022
related: FTX founder’s expert witness charges up to $1,200 an hour
The filing also states that Bankman-Fried and FTX co-founder Gary Wang purchased Robinhood stock in April 2022 for a total of $35,185,242. They went on to acquire Robinhood in May 2022 for an additional $19.45 million. Bankman-Fired holds a 90 percent stake, with Wang holding the remaining 10 percent through his company, Emergent Fidelity Technologies, it was disclosed.
In January, however, the U.S. Department of Justice seized shares belonging to Bankman-Fried and Wang.
On Aug. 31, Cointelegraph reported that Robinhood had repurchased all of the shares previously held by FTX and Alameda Research.
Robinhood revealed in a statement that it has completed the purchase of 55,273,469 shares for a total value of approximately $606 million. Following the announcement of the acquisition, Robinhood Chief Financial Officer Jason Warnick expressed the company’s satisfaction with the outcome of the acquisition:
“We are pleased to have completed the purchase of these shares and look forward to executing on our growth plans on behalf of our clients and shareholders.”
Meanwhile, several cash payments were disclosed to executives including Bankman-Fried and Wang, as well as FTX Director of Engineering Nishad Singh, former FTX Chief Marketing Officer Darren Wong, and former FTX Chief Operating Officer Constance Wang, all of which occurred Within the 12 months preceding the event. collapse.
However, it noted that these disclosures only concern fiat currencies and the extent to which crypto transactions are traceable. “The current answer to this question does not include all transfers of cryptocurrencies, other digital assets, or other assets,” it said.
Magazine: Tiffany Fong Ignites Celsius, FTX, and the New York Post: Hall of Flames