Sam Bankman-Fried, the creator of FTX, has refuted rumors that he’s gone to Argentina as the story of his defunct cryptocurrency exchange continues to play out almost in real-time on Twitter.
Sam Bankman-Fried, the creator of FTX
Sam Bankman-Fried denies rumors that he fled to Argentina
On Nov. 12, Bankman-Fried, also known as SBF, stated he was still in the Bahamas in a text message to Reuters. He said “Nope” when Reuters explicitly questioned whether he had traveled to Argentina as the reports suggested.
Over the weekend, some speculated on Twitter whether SBF was on the run when FTX Group, which comprises numerous businesses like FTX Trading, FTX US, and Alameda Research, filed for Chapter 11 bankruptcy. The suspicions began when somebody used the flight tracking website ADS-B Exchange to locate his private plane’s coordinates. The tracker indicated that SBF’s Gulfstream G450 had arrived in Buenos Aires early on November 12 after arriving directly from Nassau, Bahamas.
The rumour is SBF on his way to Argentina.. pic.twitter.com/Jnxm3bprm9
— CoinMamba (@coinmamba) November 12, 2022
Bankman-Fried lives in a luxury penthouse in Nassau that’s reportedly shared by several roommates, including Caroline Ellison, the CEO of Alameda Research.
🚨Just landed Sam Bankman-Fried @SBF_FTX Private Jet touches down in Buenos Aires Argentina LVKEB on the run #FTX 🚨 pic.twitter.com/DD4Gy9nguk
— 0xMeTaNeeR 🍥 (@0xMetaNeeR) November 12, 2022
SBF, which was once seen as the embodiment of crypto’s explosive expansion, is now the subject of the greatest controversy the sector has ever seen. FTX went from being one of the biggest cryptocurrency exchanges in the world with a valuation of almost $32 billion to a bankrupt company with a $8 billion hole in its balance sheet in less than a week. After the collapse of FTX, SBF’s net worth, according to Bloomberg, fell from $16 billion to nothing.
Over the past few years, FTX has raised billions in venture money, with investors like Lightspeed Venture Partners, Ontario Teachers’ Pension Plan, Circle Internet Financial, Coinbase Ventures, Multicoin Capital, Paul Tudor Jones, and Sequoia Capital as supporters.
Read more:
- FTX Is Filing For Bankruptcy, Sam Bankman-Fried Is Bowing Out Following Its Liquidity Crunch
- “All Funds Seem To Be Gone,” FTX Official Channel Admin Claimed The Crypto Exchange Had Been Hacked