Bitrabo Editorial
Sam Trabucco, a prominent figure close to Sam Bankman-Fried, has reappeared following his absence since the collapse of FTX in late 2022.
In a recent development, Trabucco has expressed his support for Ryan Salame, a former FTX executive facing legal proceedings for his role in the platform’s downfall, according to a report by Bloomberg.
First Public Statement by Sam Trabucco Since FTX Bankruptcy
Trabucco voiced his endorsement of Salame in a letter, hailing him as his closest friend known for his humor, passion, and unwavering support. This letter, revealed through court filings, marks Trabucco’s initial communication since the events leading up to FTX’s bankruptcy.
Formerly holding the position of co-chief executive at Alameda Research, a crypto fund founded by Bankman-Fried, Trabucco was pivotal in venture capital and market-making. However, he abruptly parted ways with Alameda in August 2022, months before FTX’s collapse.
Unlike other associates such as Co-CEO Caroline Ellison and FTX executives Gary Wang and Nishad Singh, Trabucco did not participate in Bankman-Fried’s trial or provide public evidence.
While Bankman-Fried was sentenced to 25 years in prison in March, Trabucco has not faced any public allegations of misconduct.
Support for Former FTX Executive Grows
Trabucco has had a long-standing relationship with Bankman-Fried, tracing back to their time at MIT. Reports suggest that Trabucco’s poker strategies influenced Alameda’s trading decisions.
Before Alameda’s demise, Trabucco allegedly received $25 million in transfers from the firm. Additionally, Alameda invested $2.5 million in a 52-foot yacht named “Soak My Deck” for Trabucco.
Ryan Salame, who previously managed FTX’s digital assets unit in the Bahamas, admitted guilt to charges involving running an unlicensed money-transmitting business and participating in campaign finance fraud.
Various supporters, including a Georgetown finance professor and a martial arts expert, along with family, neighbors, former FTX staff, and Bahamian residents, have rallied behind Salame.
With Sam Trabucco’s recent appearance and his backing of Ryan Salame, the aftermath of FTX’s collapse continues to unfold.
FTX’s native token, FTT, is currently trading at $1.65, reflecting a decrease of over 3% in the last 24 hours.
Image source: Bitrabo, chart courtesy of TradingView.com