Gabe Bankman-Freed, brother of Sam Bankman-Freed, put up for sale a townhouse in Washington for $3.3 million, Forbes writes, citing a Zillow ad for sale. The real estate was bought by non-profit firm Guardians Against Pandemics, which was partially sponsored by the founder of the now bankrupt cryptocurrency exchange FTX.
Source: forbes.com
The four-story house, with a total area of almost 350 square meters, is located near the Capitol and was intended as a vacation spot for FTX employees, the newspaper writes. It has four bedrooms, the same number of bathrooms, and an underground garage for one car. The house is also equipped with several gas fireplaces, hardwood floors and an elevator serving the entire house. The ceiling height is more than three meters. What exactly caused the sale is unclear.
Source: forbes.com
Notably, Gabe wasn’t the only one who owned real estate when FTX was booming. Sam Bankman-Freed’s parents also managed to pocket $121 million in Bahamas real estate. It remains unclear whether FTX clients’ assets were used to purchase real estate, since Alameda Research, a hedge fund affiliated with Sam, for example, spent on their unsuccessful trading strategies money of crypto exchange users.
Real estate has long been considered one of the ways to diversify assets among not only law-abiding crypto moguls, but also among scammers. For example, the media previously learned that Ruja Ignatova, the scandalous founder of the OneCoin fraudulent pyramid, was trying to sell her property in central London for $15.5 million. .
However, UK law requires that the actual owner of real estate in transactions of sale also appear in the documents. It remains unclear whether Ignatova managed to sell the penthouse before the media coverage of the property. As the journalists found out, Ignatova has owned the apartment since at least 2016.
Source: CryptoNewsHerald.com
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