Cryptocurrency

Sam Bankman-Fried denies rumors that he fled to Argentina

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FTX founder Sam Bankman-Fried has denied hypothesis that he’s fled to Argentina because the saga surrounding his collapsed cryptocurrency trade continued to unfold in near-real time on Twitter. 

In a textual content message to Reuters on Nov. 12, Bankman-Fried, who additionally goes by SBF, mentioned he was nonetheless within the Bahamas. When Reuters requested him particularly whether or not he had flown to Argentina, because the rumors counsel, he responded: “Nope.”

Customers took to Twitter over the weekend to take a position whether or not SBF was on the run after submitting for Chapter 11 chapter for FTX Group, which features a slew of corporations equivalent to FTX Buying and selling, FTX US and Alameda Analysis. The rumors began after customers tracked the coordinates of his personal jet utilizing the flight monitoring web site ADS-B Trade. The tracker steered that SBF’s Gulfstream G450 had landed in Buenos Aires on a direct flight from Nassau, Bahamas within the early hours of Nov. 12.

Bankman-Fried lives in a luxurious penthouse in Nassau that’s reportedly shared by a number of roommates, together with Caroline Ellison, the CEO of Alameda Analysis.

As soon as thought of to be the poster youngster for crypto’s exponential progress, SBF is now on the heart of the business’s greatest scandal. In lower than per week, FTX went from one of many world’s largest cryptocurrency exchanges with a valuation of roughly $32 billion to a bankrupt agency with an $8 billion gap in its stability sheet. In response to Bloomberg, SBF’s internet price plunged from $16 billion to zero after FTX’s collapse.

Associated: Binance CEO CZ on FTX crash: “We’ve been set again just a few years”

FTX raised billions in enterprise capital over the previous few years, touting backers equivalent to Lightspeed Enterprise Companions, Ontario Academics’ Pension Plan, Circle Web Monetary, Coinbase Ventures, Multicoin Capital, Paul Tudor Jones and Sequoia Capital.