FTX Court Filing Has Revealed The Yacht Purchase Of Former CEO Of Alameda Research


The debtors of FTX recently disclosed an entire series of financial statements that revealed the transactions that largely benefited most of the executives of the company- before the collapse of the major cryptocurrency exchange in November 2022. In a recent filing made in court with the United States Bankruptcy Court for the entire District of Delaware, there were several payments that were made- which largely benefited some of the senior company executives- and were then subsequently disclosed. These were payments or property transfers that had been executed within a year that preceded the collapse of the company. 

FTX Debtors Report On Yacht Given To Alameda CEO

However, the debtors of FTX have also stated that there are absolutely no guarantees of the absolute accuracy of the data or completeness- and have further disclaimed any liability for omissions or errors. In March 2022, a transaction amounting to $2.51 million was made from the company to the American Yacht Group, which would then benefit Sam Trabucco, the co-CEO of Alameda Research. Just a few months after the transaction had taken place, the co-CEO confirmed the ownership of the boat, as well as informed his followers regarding his resignation in a tweet made in August 2022. 

At the same time, there were several cash payments- which were disclosed to the former executives of FTX- which included Gary Wang, and Sam Bankman-Fried, along with Nishad Singh, the former FTX director of engineering, Darren Wong- the former FTX chief marketing officer, and Constance Wang, the former chief operating officer of FTX. However, the filing notes that the disclosures have only been pertained to certain fiat currencies and the extent to which the crypto transactions could end up being traced.