FTX Court Filing Uncovers $2.5 Million Yacht Purchase by Former Alameda CEO

Recent financial statements disclosed in an FTX court filing (1) have revealed transactions that benefited senior company executives, including a $2.51 million payment for a yacht purchase by former Alameda Research co-CEO Sam Trabucco shortly before FTX's collapse.

Financial Transactions Disclosure

FTX Debtors, in a court filing with the US Bankruptcy Court for the District of Delaware, have disclosed financial transactions that directly benefited senior company executives at FTX and Alameda Research. These transactions were executed within one year prior to the collapse of the cryptocurrency exchange.

Yacht Purchase and Ownership

In March 2022, FTX directed a payment of $2.51 million to the American Yacht Group, benefiting former Alameda Research co-CEO Sam Trabucco. Trabucco confirmed his ownership of a boat a few months later in an August 2022 tweet, shortly after announcing his resignation.

Cash Payments to Executives

The court filing also revealed cash payments to FTX executives, including FTX co-founders Bankman-Fried and Wang, as well as other senior members. These payments occurred within the twelve months leading up to FTX's collapse.

Robinhood Shares Acquisition

Bankman-Fried and FTX co-founder Gary Wang's acquisition of Robinhood shares was disclosed in the filing. They purchased shares in April 2022, totaling $35,185,242, followed by an additional $19.45 million in May 2022. These shares were later seized by the US Department of Justice in January.

Robinhood's Repurchase of Shares

On August 31, it was reported that Robinhood had repurchased all shares previously owned by FTX and Alameda Research. Robinhood repurchased 55,273,469 shares for approximately $606 million, signaling its commitment to growth and future plans.