FTX Founder Reportedly Went on a Luxury Beachfront Shopping Spree

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    Sam Bankman-Fried, who founded and led cryptocurrency exchange FTX before its catastrophic meltdown, reportedly spent the last two years purchasing at least 19 properties for his senior staff and his parents worth $121 million, according to Reuters.?
    On top of that, one unit of the company spent $300 million on homes and rental properties, according to Reuters. One specific resort community among the purchases was Albany — the same resort where Tiger Woods hosts golf tournaments every year. It was intended for key personnel.?
    FTX collapsed over the last few weeks due to a lack of liquidity and the revelation that it was largely a house of cards set to collapse. The exchange had been poised for a bailout by rival Binance, which had initially agreed to buy the company before changing its mind. FTX filed for Chapter 11 bankruptcy protection on Nov. 11.?
    Bankman-Fried’s parents are also named the owners of a $16.4 million home.?
    FTX didn’t respond to a request to comment.?