The property was previously owned by Sam Bankman-Fried brother's nonprofit firm "Guarding Against Pandemics."
The ongoing saga of the now-defunct cryptocurrency exchange FTX and its former CEO, Sam Bankman-Fried, takes another turn as a property linked to him appears to have a buyer. The buyer's identity, however, is unknown.
The property in question, nestled in the Capitol Hill neighborhood of Washington, DC, is thought to have connections to Bankman-Fried.
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This link is evidenced by the previous owner of "Guarding Against Pandemics," a nonprofit entity established by the ex-CEO's sibling, Gabriel Bankman-Fried.
According to an update on Realtor.com, an offer has been accepted for the property, moving its status to "contingent." This status indicates that acceptance has occurred, but the deal is not closed.
The suggested sale price stands at a hefty $3 million. Notably, in January, reports claimed the property had been de-listed from real estate marketplaces, fueling speculation that it had been procured utilizing misappropriated FTX user funds.
The source of funds for the property acquisition and the role this money may play in FTX's ongoing bankruptcy proceedings in the Delaware District are topics of intense interest.
The property enters the spotlight amid an investigation by US authorities into assets linked to the troubled crypto exchange and its former head.
This investigation appears in the context of Bankman-Fried's downfall and the subsequent criminal charges imposed against him. The assets in question, including those used for political contributions, became a focal point for the investigation.
As a result, Sam Bankman-Fried finds himself facing two separate trials in October 2023 and March 2024. The charges range from alleged violations of campaign finance law to other undisclosed offenses.
The unfolding drama surrounding the purchase of the property linked to the former FTX CEO suggests that the resolution of the cryptocurrency exchange's downfall and Bankman-Fried's ensuing legal challenges are still far from being resolved.
