Life Of The Rich And Infamous: Court Filing Reveals Disgraced FTX Execs' Lavishness
Portfolio Pulse from Bibhu Pattnaik
Financial statements reveal transactions favoring top executives at FTX, a cryptocurrency exchange, before its downfall in late 2022. Notably, $2.51 million was transferred from FTX to the American Yacht Group for Sam Trabucco, former co-CEO of Alameda Research. Cash payments were also made to several FTX executives, including Bankman-Fried and co-founder Gary Wang. Additionally, Bankman-Fried and Wang acquired shares of Robinhood (NASDAQ:HOOD) in spring 2022, which were later seized by the U.S. Department of Justice and repurchased by Robinhood.
September 03, 2023 | 2:12 pm
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Bankman-Fried and Wang, FTX executives, acquired Robinhood shares in spring 2022. These shares were later seized by the U.S. Department of Justice and repurchased by Robinhood.
The news about Robinhood is neutral. While the shares were initially acquired by FTX executives, they were later seized by the Department of Justice and repurchased by Robinhood, which means the company regained control over its shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70