February 9, 2023

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‘Partner-Swapping, Pills…’  NY Post Investigates Sam Bankman-Fried’s ‘FTX Party House’

‘Partner-Swapping, Pills…’ NY Post Investigates Sam Bankman-Fried’s ‘FTX Party House’

Are we missing some clarifying details in the saga of Sam Bankman-Fried? The New York Post seems to think so, writing among other things, that inside a glamorous Bahamas penthouse, 10 roommates became “a group of financial renegades that dropped speed, blithely swapped in and out of relationships with one another, and watched their boss play video games while pitching for a billion-dollar investment.”

And they all lived together atÂAlbany, Bahamas, home to the swanky $40 million digsÂused by cryptocurrency giant FTX — Âthe $15 billion company that went recently belly up amid allegations of fraud and mismanagement — according to accounts of staffers who lived and worked there. Led by disgraced CEO and co-founder Sam Bankman-Fried, a 30-year-old Californian known as SBF, the group pulled all-nighters while high on amphetamines at their retreat — which boasted six bedrooms, two elevators, manicured grounds, a golf course and a boat basin packed with super yachts.

“The feeling was that they were treating Albany like a frat house,” a well-heeled Bahamian local told The Post…..

“Stimulants when you wake up, sleeping pills if you need them when you sleep” — that was the formula for FTX’s success, according to a tweet from Bankman-Fried….

“He gave money for this, money for that,” a restaurateur in Nassau told The Post. “I don’t know if he is a great fellow with bad management.” Asked what the Albany locals are saying about the implosion of FTX, the high-society source responded: “Nothing. They’re embarrassed.”

Read more of this story at Slashdot.