A Victorian brownstone in Washington DC, once linked to former FTX CEO Sam Bankman-Fried, appears to have a new owner awaiting finalization of the sale. The four-bedroom property near Capitol Hill was marked as “contingent” on Realtor.com, indicating that an offer had been made and accepted, but certain conditions are yet to be fulfilled. The property is reportedly owned by Guarding Against Pandemics, a nonprofit directed by Bankman-Fried’s brother Gabriel, and is also believed to be funded by the former FTX CEO.
The luxurious $3 million residence at 420 3rd St. NE is described as an “entertainer’s dream home” featuring four gas fireplaces, 4,100 square feet of living space, and a chef-inspired kitchen. Located in the highly sought-after Capitol Hill neighborhood, the property’s listing suggested that future occupants would enjoy more leisure time due to its close proximity to areas of employment.
This sale follows the unfortunate collapse of Sam Bankman-Fried’s crypto exchange, FTX, in November, when the company filed for bankruptcy protection. Bankman-Fried himself is now facing criminal and civil charges in the US. The US Attorney’s Office in the Southern District of New York accused the former CEO of deceitful practices, including misappropriation of customer deposits, contravention of campaign finance laws, and conspiracy to defraud the government.
Bankman-Fried’s criminal trial is scheduled for October, raising questions about the fate of FTX, an exchange that once held great promise within the industry. Furthermore, he is also facing civil charges from the US Securities and Exchange Commission (SEC) for allegedly defrauding investors. SEC Chair Gary Gensler stated in December that Bankman-Fried’s alleged fraudulent activities serve as a stark warning to other crypto platforms to comply with the law.
As the situation unfolds, the crypto community is left to ponder the consequences of FTX’s downfall and Bankman-Fried’s legal battle. Did this once-promising platform fall victim to malicious intent, or was it merely an unfortunate casualty of a rapidly shifting industry? With the high stakes involved in the world of cryptocurrency, it’s vital that investors remain cautious and stay informed. As always, continue following our blog for the latest news and insights about blockchain technology, markets, and safety.
Source: Cryptonews
