Former Alameda Co-CEO Sam Trabucco Agrees to Forfeit $70M, Yacht, Apartments to FTX Creditors
Former co-CEO of Alameda Research, Sam Trabucco, has agreed to hand over two properties and a 53-foot yacht to creditors of failed crypto exchange FTX, a filing shows.
Trabucco, who was part of Sam Bankman-Fried’s inner circle and became Caroline Ellison’s right hand at Alameda Research, the trading firm co-founded by Bankman-Fried, left the company in August 2022, just months before both Alameda and FTX filed for bankruptcy in December of that year.
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He never publicly acknowledged any wrongdoing or knowledge of criminal activity happening at the firm. However, Trabucco sometimes posted tweets on X revealing aggressive trades and heavy risk taking.
In the filing dated Nov. 3, he agreed to forfeit two apartments worth $8.7 million located in San Francisco, a yacht he bought in March 2022 for $2.5 million and agreed to transfer to the debtors the rights to claims filed against FTX for approximately $70 million.
According to the filing, Trabucco received roughly $40 million in “potentially avoidable transfers” from debtors during his two years at the trading firm.
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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show. Helene is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
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