30s Summary

Former Alameda Research co-CEO Sam Trabucco has agreed to provide two houses and a yacht to creditors of the now-bankrupt FTX crypto exchange. Trabucco, who quit Alameda last August, has not admitted any wrong doings, but has hinted at some risky behaviour happening at the firm. He agreed to give away properties valued at $8.7 million, a $2.5 million yacht and roughly $70 million worth of claims against FTX. Documents also suggest Trabucco received close to $40 million in questionable transfers while at the firm.

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Sam Trabucco, former co-CEO of Alameda Research, has decided to give two houses and a fancy 53-foot yacht to creditors of the now defunct crypto exchange, FTX.

Trabucco was pretty close to Sam Bankman-Fried and Caroline Ellison in Alameda Research, another venture which Bankman-Fried had a huge role in founding. Things changed when he quit Alameda last August, right before both FTX and Alameda filed for bankruptcy later in December.

It’s worth noting that he never really admitted to doing anything wrong or knowing any illegal stuff going at his firm. Still, he sometimes put up tweets hinting at some risky dealings taking place.

As per a document back from earlier this November, Trabucco agreed to let go of two apartments in San Francisco valued at $8.7 million, a yacht he had bought in March 2022 for $2.5 million, as well as passing on about $70 million worth of claims filed against FTX to the creditors.

This legal document also suggests that Trabucco received close to $40 million as potentially “dodgy transfers” from debtors during his two-year stint at the firm.