Sam Bankman-Fried’s $40m Bahamas penthouse reportedly up on the market | Cryptocurrencies

Sam Bankman-Fried, the crypto dealer entrepreneur on the middle of the FTX scandal, reportedly put his luxurious $40m Bahamas penthouse up on the market on Friday – the identical day the cryptocurrency alternate filed for chapter.

Bankman-Fried’s penthouse – “the Orchid”, positioned in Albany, an unique non-public neighborhood in Nassau – was listed by actual property agent Seaside Bahamas at $39,500,000. The providing was first reported on Twitter by Autism Capital.

Bankman-Fried, 30, is believed to have misplaced near $16bn in a single day eight days in the past and is now dealing with investigation by US authorities. FTX was frozen by Bahamian regulators on Friday. Stories recommend at the very least $1bn in investor property are lacking.

An actual property dealer for the 12,000-sq ft, five-bedroom residence stated on Monday the penthouse was put up on the market within the final week however declined to call the proprietor. The information outlet Semafor, which counts Bankman-Fried as an investor, stated present and former FTX staff confirmed possession.

Calls to Seaside Bahamas went unanswered on Monday; the property seems to have been bought to Bankman-Fried by one other property firm, Graham Properties, in March this yr. A spokesman for Graham stated they weren’t licensed to debate the sale.

In response to the itemizing, the Orchid was designed by the high-end New York agency Morris Ajmi Architects, and it overlooks the Albany marina and the Atlantic Ocean.

“The marina residences of Albany are thought of the last word in luxurious waterfront dwelling within the Caribbean of which the penthouse in Orchid is the cornerstone,” the itemizing says.

The residence, it continues, “hosts a luxurious main bedroom suite together with his and her loos and walk-in closets plus a non-public balcony with lounge space and spa” with one other 4 en suite bedrooms, a grand lounge with eating space open to an out of doors pool, a non-public storage and an elevator.

“Each side of the penthouse was meticulously designed with Venetian plaster partitions matching Italian marble accents all through, German engineered doorways and home windows, and wired all through for sound,” the prospectus says.

Additionally it is listed as being bought furnished, with its personal water purification and standby generator, and comes absolutely fenced and walled with 24-hour safety.

Bankman-Fried and senior FTX executives labored within the penthouse. The luxe setting seems to undercut Bankman-Fried’s public picture of an unkempt crypto nerd who slept on a beanbag underneath his desk on the workplace.

That picture, hedge fund managers and crypto traders have informed the Guardian, was largely a feint that the media and political figures lapped up partially as a result of it conformed to their expectations of the savant tech bro.

“We’ve this fascination of the entrepreneur who sleeps underneath his desk – the whizz-kid Mark Zuckerberg phenomenon,” Josh Peck, a crypto fund supervisor, informed the Guardian final week. “It’s actually a survivorship bias” – a judgment error when a profitable subgroup is mistaken as a complete group – “and there are a variety of guys who sleep on beanbags who don’t make billions of {dollars}.”

In response to information reviews, Bankman-Fried has been trying to liquidate totally different holdings in latest days. The Monetary Instances reported that he was purchasing his $472m stake within the publicly traded brokerage Robinhood for a 20% low cost.