Inside Sam Bankman-Frieds $35 million crypto frat house in the Bahamas
Summary
Hes roughly 1,100 miles away from the tropical paradise he called home until late last year, and is facing a potential lifetime in prison if convicted for financial crimes tied to the collapse of cryptocurrency exchange FTX, which was once valued at $32 billion. A big part of Bankman-Frieds journey traces back to the $35 million Bahamian property he shared with nine people, including friends from high school, an ex-girlfriend, college roommates and top execs at FTX and sister hedge fund Alameda Research. The Orchid is widely regarded as the crown jewel of the Albany, an oceanside resort that spans 600 acres and reportedly boasts a consortium of celebrity backers, including Tiger Woods and Justin Timberlake. The penthouse had en suite bathrooms, walk-in closets, Venetian plaster walls and Italian marble floors, along with a balcony-lined perimeter with its own private spa, outdoor pool and jacuzzi. In June 2022, Yedidia submitted a report to Bankman-Fried on Signal that showed $8 billion in customer money held in an internal database tracking the cash wired to an Alameda account called "fiat at ftx.com" was missing.