FTX’s failure impacted the supply of funds for US Democrats
Samuel Bankman-Fried, foFTX’s failure impacted the supply of funds for US Democratsunder and Chief Executive Officer of FTX, testifies before the Senate Agriculture, Nutrition and Forestry Committee during a hearing in Washington, D.C., U.S., on Wednesday, Feb. 9, 2022. The top Democrats and Republicans on the committee last month sent a letter to the CFTC calling for the regulator to take a more active role in overseeing cryptocurrencies. Photographer: Sarah Silbiger/Bloomberg

Sam Bankman Fried’s $40 Million Penthouse Up for Sale

According to recent reports, Sam Bankman Fried’s $40 million penthouse is now up for sale. The penthouse was put up for sale the same day as the company, FTX announced its bankruptcy. Read the entire article to learn more about this news piece.

About the penthouse

“The marina residences of Albany are considered the ultimate in luxury waterfront living in The Caribbean of which The Penthouse in Orchid is the cornerstone,” the listing says.

The apartment, it continues, “hosts a sumptuous master bedroom suite with his and her bathrooms and walk-in closets plus a private balcony with lounge area and spa” with another four ensuite bedrooms, a grand living room with dining open onto an outdoor pool, private garage and elevator.

“Every aspect of the penthouse was meticulously designed with Venetian plaster walls matching Italian marble accents throughout, German engineered doors and windows and wired throughout for sound”, the prospectus says.

“We have this fascination of the entrepreneur who sleeps under his desk – the whizz-kid Mark Zuckerberg phenomenon,” Josh Peck, a crypto fund manager, told the Guardian last week. “It’s really a survivorship bias [a judgment error when a successful subgroup is mistaken as an entire group] – and there are a lot of guys who sleep on beanbags who don’t make billions of dollars.”

According to several reports, Sam Bankman Fried has been looking to liquidate most of his assets. FTX has filed for bankruptcy and has experienced a massive downfall. Bankman recently resigned from the company as  CEO. This also happens to be the company he founded and it looks like the company is about to fade away in no time.

FTX’s Miami Heat Arena naming rights terminated branding to be removed

About FTX

For people who are hearing about FTX for the very first time, this article will give you all the necessary information about it. The company is a crypto exchange platform. Cryptocurrency is digital money which includes bitcoins, NFT, etc. The company has been built by the traders and for the traders. The company owes its popularity to its practice of making every trader feel comfortable with the platform. The platform is for both experienced traders and the ones who have just entered the field and are learning more about it. The company has recently filed for bankruptcy and its CEO has resigned from his post. The CEO, BSF happens to be the one who founded the company. It looks like the company has very few days left in the market.