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FTX Spent $74 Million on Real Estate in the Bahamas This Year

FTX Property Holdings spent $74,230,193 on property in the Bahamas over 2022. The bulk of that money, $67,440,193.99, went to entities surrounding Albany Bahamas, a luxury condo resort in New Providence.

The document, moreover, notes "one purchase of a condominium at One Cable Beach for 2 million made by Sam Bankman-Fried directly in late 2021." For reference, the Bahamian dollar is pegged to and maintains parity with the U.S. dollar. One Cable Beach is another beachside luxury condominium complex.

Those properties were purchased outright, not rentals, leaving the question unanswered as to what happens with that property when it was for a company that is effectively shutting down. 

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