Sam Bankman-Fried’s defunct crypto exchange FTX owes Jimmy Buffett’s Margaritaville resort nearly $600,000 — greater than 10 times what was previously thought — and meanwhile racked up a $400,000 DoorDash tab ahead of its bankruptcy, court papers revealed this week.
In November, FTX’s investment affiliate Alameda Research was reportedly wanted by Margaritaville resort within the Bahamas over a $55,319 bar tab.
But court papers on Wednesday show the oceanside retreat named after Buffett’s hit single is now claiming $599,409 from the crypto hedge fund, in response to Insider.
FTX employees reportedly stayed “for weeks or months” in about 20 suites at One Particular Harbour — a luxury tower connected to the predominant Margaritaville resort, in response to Bloomberg.
FTX’s investment affiliate Alameda Research was reportedly wanted by Margaritaville resort within the Bahamas over a $55,319 bar tab. Margaritaville Resort Nassau
Resort staffers said employees from the since-imploded firm would pile right into a shuttle within the morning and return to Margaritaville after their workday at the corporate’s Bahamas-based headquarters, in response to reports.
FTX’s officers were situated on the opposite side of the island and the trip reportedly took roughly half-hour.
Meanwhile, court filings this week also show that investment arm Alameda Research racked up a $400,000 Doordash bill within the months leading as much as the crypto giant’s spectacular implosion.
Documents filed in Delaware bankruptcy court on Wednesday revealed an unpaid tab of $403,765 from the food delivery app to FTX entities.
West Realm Shires Services, which manages FTX US, paid a complete of $357,526 to DoorDash in May and July of 2022, Insider reported.
Documents filed in Delaware bankruptcy court on Wednesday revealed an unpaid tab of $403,765 from the food delivery app to FTX entities. SOPA Images/LightRocket via Getty Images
Former employees previously told the Financial Times that FTX US was given $200 per day toward DoorDash food delivery, together with free groceries, barbershop pop-up and bi-weekly massages.
The app’s costliest meal available for delivery to FTX’s Berkeley, California office was a $56 Recent York strip steak and lobster from Japanese restaurant Hana, in response to Insider.
DoorDash confirmed to Insider that FTX US was a customer of “DoorDash for Work, our worker profit product.”
Bankman-Fried leaves federal court in February. Gregory P. Mango
FTX US made two substantial payments to DoorDash in 2022 with the entity of around 75 employees.
The primary payment of $173,000 got here in May, followed by one other $183,000 in July, in response to Axios reports in November.
Alameda Research still has an excellent Doordash balance of $46,239, court papers show.
Lawyers handling the Chapter 11 case say Bankman-Fried had a $65 billion line of credit as his “personal piggy bank.” Gabriella Bass
Lawyers handling the Chapter 11 case say Bankman-Fried had a $65 billion line of credit as his “personal piggy bank,” which he used to fund spending on real estate and political donations, meaning FTX couldn’t cover all its customer withdrawals.
Bankman-Fried and his associates also utilized company funds to buy $300 million in luxury real estate within the Bahamas and a number of other high-end properties within the exclusive Albany community, FTX attorneys revealed.
With Post wires
