Finst

FTX auctions the penthouse of Sam Bankman-Fried

The bankrupt crypto exchange FTX is still looking for money.

By Luc Vesters
• 1 min read
FTX auctions the penthouse of Sam Bankman-Fried

The bankrupt crypto exchange FTX is still looking for money. To achieve this, the company wants to sell several properties. This reports The Block, which cites court documents. Specifically, it is talking about 35 condos in the Bahamas. This includes the "Orchid Penthouse," where FTX founder SBF and his relatives lived.

FTX wants to get at least 80 percent of the broker's share price from individual sales. Any deal over $5 million must also be reported to the responsible U.S. trustee and those entitled to compensation. The Orchid Penthouse was up for sale shortly after the crypto exchange collapsed. So far, however, no buyer has been found for the $40 million apartment.

Meanwhile, restructuring measures continue at FTX. There have long been rumors of a reopening of the crypto exchange.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.