The Democratic darling whose FTX crypto currency exchange collapsed this week amid reports of up to $2 billion in missing customer funds, was spotted Saturday in the Bahamas.
FTX underwent a $16 billion implosion amid reports that co-founder Sam Bankman-Fried had been funneling money to a sister trading company run by his girlfriend.
Bankman-Fried, 30, who has donated a reported $50 million to Democrats since 2020, told Reuters he was in the Caribbean, where FTX is headquartered — while a source said the disgraced CEO and his father were spotted hunkering down with cops and federal regulators Saturday.
Crypto experts on Twitter Saturday warned FTX account holders who have linked their FTX accounts to their bank accounts to change their bank account passwords immediately because the accounts may be vulnerable to hacking.
Bankman-Fried, known in the industry as “SBF,” secretly funneled $10 billion of customer funds into his trading company, Alameda Research, it was revealed Friday. Alameda Research is run by Bankman-Fried’s girlfriend, Caroline Ellison.