The founder and former CEO of collapsing crypto trader Sam Bankman-Fried is said to be holed up with members of his inner circle in the Bahamas while his empire collapses around him.
Bankman-Fried, 30, resigned from FTX on Friday, as the crypto exchange filed for bankruptcy and reports emerged that up to $2 billion in client funds had vanished from the company’s books in recent weeks.
According to Coin Telegraph, the disgraced former CEO is holed up at the Albany Tower alongside FTX co-founder Gary Wang and the company’s director of engineering Nishad Singh.
It’s not clear if Wang, who is FTX’s Chief Technology Officer, and Singh, the company’s director of engineering, have also resigned their positions at the crypto trader.
A source told Coin Telegraph: ‘Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas. Which means it will be hard for them to leave.’
The same source said that it was Bankman-Fried’s plan to escape to Dubai in the United Arab Emirates, a country with no extradition treaties, as the walls close in around him.