Home / Dashcoin News /Bitget Prepares 5 Million USD Builders Fund To Help Users Distressed By FTX Collapse

Bitget Prepares 5 Million USD Builders Fund To Help Users Distressed By FTX Collapse

14 Nov 2022

In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent roughly $74 million on real estate purchases in the surrounding Albany Bahamas oceanside district.

This past weekend, the web portal seasidebahamas.com published a real estate listing that’s reportedly tied to the former FTX CEO Sam Bankman-Fried (SBF). The property dubbed the “Orchid Building,” is located on a 600-acre oceanside resort community called Albany Bahamas or Albany Resort.

The asking price for the 12,000-square-foot penthouse is roughly $39.9 million, according to the listing, and the so-called effective altruist SBF’s maintenance fees for the home are around $21,000. SBF’s penthouse listing made waves on Twitter when it was shared by the Twitter account dubbed “Autism Capital.”

Effective Altruism: Former FTX CEO's Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate

A large portion of the commenters on Autism Capital’s thread mentioned SBF’s so-called altruistic nature he boasted about on a regular basis. “Effective altruism housing,” one person mocked in the Twitter thread. “That mansion screams effective altruism,” another person wrote.

In addition to the Albany district mansion, a report published by The Block indicates that FTX allegedly spent $74 million on real estate purchases in the Bahamas. Reporters Kollen Post and Frank Chaparro witnessed documents that show “FTX Property Holdings spent $74,230,193 on property in the Bahamas over 2022.”

if people like new office videos..

about a month out from moving into our new Tokyo office pic.twitter.com/o3bGbqxKtr

— FTX (@FTX_Official) November 7, 2022

The report further details that $67.4 million went to properties in the Albany Bahamas district. In addition to Albany properties, the report says SBF purchased a condo at One Cable Beach for $2 million. FTX’s subsidiary FTX Property Holdings is mentioned in the company’s bankruptcy protection filing registered in Delaware.

FTX also purchased real-estate in Miami Florida as reports detail that FTX was building a “permanent space with capacity for 16 to 18 employees.” The FTX office was located in Miami’s Brickell financial district and the company also shared a video of a new Tokyo office on Nov. 7, 2022, days before its bankruptcy filing.

What do you think about the real-estate purchases FTX Property Holdings reportedly made during the last few years? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent roughly $74 million on real estate purchases in the surrounding Albany Bahamas oceanside district.

This past weekend, the web portal seasidebahamas.com published a real estate listing that’s reportedly tied to the former FTX CEO Sam Bankman-Fried (SBF). The property dubbed the “Orchid Building,” is located on a 600-acre oceanside resort community called Albany Bahamas or Albany Resort.

The asking price for the 12,000-square-foot penthouse is roughly $39.9 million, according to the listing, and the so-called effective altruist SBF’s maintenance fees for the home are around $21,000. SBF’s penthouse listing made waves on Twitter when it was shared by the Twitter account dubbed “Autism Capital.”

Effective Altruism: Former FTX CEO's Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate

A large portion of the commenters on Autism Capital’s thread mentioned SBF’s so-called altruistic nature he boasted about on a regular basis. “Effective altruism housing,” one person mocked in the Twitter thread. “That mansion screams effective altruism,” another person wrote.

In addition to the Albany district mansion, a report published by The Block indicates that FTX allegedly spent $74 million on real estate purchases in the Bahamas. Reporters Kollen Post and Frank Chaparro witnessed documents that show “FTX Property Holdings spent $74,230,193 on property in the Bahamas over 2022.”

if people like new office videos..

about a month out from moving into our new Tokyo office pic.twitter.com/o3bGbqxKtr

— FTX (@FTX_Official) November 7, 2022

The report further details that $67.4 million went to properties in the Albany Bahamas district. In addition to Albany properties, the report says SBF purchased a condo at One Cable Beach for $2 million. FTX’s subsidiary FTX Property Holdings is mentioned in the company’s bankruptcy protection filing registered in Delaware.

FTX also purchased real-estate in Miami Florida as reports detail that FTX was building a “permanent space with capacity for 16 to 18 employees.” The FTX office was located in Miami’s Brickell financial district and the company also shared a video of a new Tokyo office on Nov. 7, 2022, days before its bankruptcy filing.

What do you think about the real-estate purchases FTX Property Holdings reportedly made during the last few years? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million was made to gate.io in recent weeks. Polygon also surged on Monday, as prices attempted to break out of a key resistance level.

Cronos (CRO) rebounded on Monday, as markets responded to Crypto.com CEO Kris Marszalek’s comments on recent speculation surrounding the company’s health.

Following a low of $0.05629, CRO/USD rallied to an intraday high of $0.07459 earlier in today’s session.

The surge comes as Marszalek admitted that, “Trust was damaged, if not lost, and we need to focus on rebuilding trust.”

Looking at the chart, today’s move saw CRO rebound from an all-time low, and as of writing the asset is trading nearly 8% higher, at $0.07051.

In addition to this, the 14-day relative strength index (RSI), is currently tracking at 32.99, which is below a ceiling of 36.20.

Overall, CRO is down by 42% from the same point last week.

Polygon (MATIC) was another notable gainer on Monday, as the token attempted to reenter the $1.00 region.

MATIC/USD surged to a peak of $0.9573, which comes less than a day after hitting a low of $0.8412.

Today’s rebound in price saw MATIC briefly breakout of a resistance level of $0.95, however it has since slipped below this point.

As can be seen from the chart, prices have somewhat stuttered, as the RSI neared a collision with a ceiling of its own.

The index is currently tracking at 48.07, which is marginally below the aforementioned resistance of 49.00.

Should MATIC bulls intend to take the token back above $1.00, price strength will first need to move beyond this 49.00 point.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, CRO, Cronos, Cryptocurrency, matic, Polygon

Could we see polygon move back above $1.00 in the coming days? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Vladimka production / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, ... read more.

On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million was made to gate.io in recent weeks. Polygon also surged on Monday, as prices attempted to break out of a key resistance level.

Cronos (CRO) rebounded on Monday, as markets responded to Crypto.com CEO Kris Marszalek’s comments on recent speculation surrounding the company’s health.

Following a low of $0.05629, CRO/USD rallied to an intraday high of $0.07459 earlier in today’s session.

The surge comes as Marszalek admitted that, “Trust was damaged, if not lost, and we need to focus on rebuilding trust.”

Looking at the chart, today’s move saw CRO rebound from an all-time low, and as of writing the asset is trading nearly 8% higher, at $0.07051.

In addition to this, the 14-day relative strength index (RSI), is currently tracking at 32.99, which is below a ceiling of 36.20.

Overall, CRO is down by 42% from the same point last week.

Polygon (MATIC) was another notable gainer on Monday, as the token attempted to reenter the $1.00 region.

MATIC/USD surged to a peak of $0.9573, which comes less than a day after hitting a low of $0.8412.

Today’s rebound in price saw MATIC briefly breakout of a resistance level of $0.95, however it has since slipped below this point.

As can be seen from the chart, prices have somewhat stuttered, as the RSI neared a collision with a ceiling of its own.

The index is currently tracking at 48.07, which is marginally below the aforementioned resistance of 49.00.

Should MATIC bulls intend to take the token back above $1.00, price strength will first need to move beyond this 49.00 point.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, CRO, Cronos, Cryptocurrency, matic, Polygon

Could we see polygon move back above $1.00 in the coming days? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Vladimka production / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, ... read more.

PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, influencers and professional traders who are distressed by the FTX collapse.

The market witnessed the collapse of FTX within a week, and worse still, the exchange announced their wallet was hacked after filing for bankruptcy protection in the US. The remaining funds in the company have been wiped out completely. No one is the winner in this chaos, as it continues to harm the whole industry.

Due to the wide range of business offerings, the decline of FTX inevitably has caused a huge impact on the whole Web3 industry, and users of the platform are most affected by this crisis. FTX’s glory in the past is also attributed to the excellent talents and contributors on the platform, including influencers, affiliates and professional traders; however, they are also the ones who have been impacted a lot in this chaos with a huge amount of their assets locked on the platform.

As a leading and reliable cryptocurrency exchange, Bitget always strives to build a healthy environment for builders to develop a better version of the crypto world. In line with the vision, Bitget has set aside a 5 Million USD Builders’ Fund to support affiliates, influencers, and professional traders who have suffered from the FTX incident. Those affiliates could apply for financial aid from the Builders’ Fund with the required credentials. For more details on the application criteria and related terms & conditions, please refer to the announcement.

Gracy Chen, Managing Director of Bitget, says on Twitter, earlier “We have prepared a 5 million USD “Builders’ Fund” to help those innocent victims with different assistance. Moreover, we would like to take this initiative to deliver a message to the fearful market: Bitget and many other active builders are still working hard to cultivate the crypto world. During this dark time, we should join forces, help each other, and wait for dawn.”

About Bitget

Bitget, established in 2018, is the world’s top five leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.

The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborations with creditable partners, including Argentinian legendary footballer Lionel Messi, Italian leading football team Juventus, PGL Major’s official esports crypto partner, and the leading esports organization Team Spirit.

For media queries, please contact:

sylvia.huang.yq@bitget.com

rachel.cheung@bitget.com

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

Source From : News

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