Cryptocurrencies New FTX developments continue to roil crypto markets
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Tuesday morning brought reports that FTX funds were used to purchase over 19 properties worth $121 million in the Bahamas since 2020, according to the country’s official property records. FTX's property purchases included seven condos in the Albany resort community where the company’s headquarters were based, costing almost $72 million.
Two of the FTX real estate purchases were designated for commercial use, including the $8.55 million housing complex that made up FTX's headquarters, and five acres of land that was to have offices built on it for the exchange. “We are evaluating assets one by one,” Sun said, “but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure.”
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