FTX Spent $40 Million On Luxury Items Month Before Filing Bankruptcy

FTX Spent $40 Million On Luxury Hotels, Food In Nine Months

January 9, 2023 Story: Jai Pratap

FTX spent $40 million on hotels and accommodation, flights and food from January to September 2022, court filings revealed.

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Business Insider reported that more than $15 million were spent on luxury hotels and accommodation, with $5.8 million of that at one resort — the Albany Hotel.

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$4 million was spent on just flights and over $500,000 was spent on postage and delivery.

When FTX moved to the Bahamas, Amazon did not deliver to that location. But FTX signed an exclusive deal with the air carrier to fly all their orders.

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FTX provided the Bahamas staff with luxury and free trips to anywhere FTX had its office globally.

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Alameda’s Caroline Ellison and FTX’s Gary Wang pleaded guilty and agreed to help US authorities.

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However, Sam Bankman-Fried has pleaded not-guilty on charges.

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