Glance at SBF's shopping list: 12 consumer spending items worth $540 million

Original source: Max Chafkin, Bloomberg

Original compilation: Nancy, PANews

FTX founder SBF orchestrated massive multi-billion dollar fraud, and while he denies wrongdoing, it will be up to the courts whether he is a criminal or a “poor” businessman who claims to have only $100,000 in his bank account . According to bankruptcy documents and a publicly disclosed list of 12 purchases, SBF and his inner circle spent a total of nearly $540 million on thought leaders, clubs, real estate, media, NFT and e-sports league sponsorships, the most expensive of which was The title sponsorship of the e-sports club Team SoloMid, the price is as high as 210 million US dollars.

Here is a partial shopping list for SBF:

1. E-sports team Team SoloMid FTX ($210 million)

Team SoloMid is a Los Angeles-based esports club that set a world record for the Super Smash Bros. Ultimate tournament. FTX acquired the naming rights to TSM, and the company has now dropped “FTX” from the name.

2. Miami Heat Arena Naming Rights ($135 million)

FTX sponsored the Miami Heat’s arena in a 19-year, $135 million naming rights deal that was terminated by a Delaware bankruptcy court judge.

3. League of Legends Champions League ($96 million)

“League of Legends” developer Riot Games signed a 7-year Champions League (LCS) sponsorship agreement with FTX, and the sponsorship fee will increase year by year until the total will reach 96 million US dollars in 2028. But with FTX going bankrupt, Riot Games asked the court to terminate the contract early on the grounds of “damage to reputation”.

4. The Orchid Penthouse ($30 million)

It’s the 11,500-square-foot hangout for SBF and his coterie at Club Albany, a luxury resort in the Bahamas.

5. 101 Bored Ape Yacht Club NFT ($24.4 million)

101 Bored Ape Yacht Club NFTs containing 101 images of apes in different clothing, accessories, facial expressions, auctioned by Sotheby’s.

6. Comedian Larry David’s Super Bowl commercial ($20 million)

American comedy “Curb Your Enthusiasm” star Larry David repudiates some of the most important inventions in human civilization (e.g. the wheel, the Declaration of Independence, the light bulb, the Walkman, the battery, etc.) in a 60-second Super Bowl ad in 2022 , expressing his trademark skepticism, eventually landed the role on FTX, and the ad ended with “Don’t Like Larry, Don’t Miss Out on The Next Big Thing.” At the same time, the ad also includes a bitcoin gift link.

7. Digital bank Moonstone Bank ($11.5 million stake)

Moonstone Bank, the Washington-based rural bank (which had three employees when SBF opened the account), has changed its name to the old Farmington State Bank, dubbed a “return to original mission.”

8. Media Semafor ($10 million)

The media startup, which promises “journalistic transparency” and “refined opinion,” plans to return the investment.

9. Luxury yacht “Soak my Deck” ($2.5 million)

Alameda Research, a hedge fund owned by SBF, bought a 52-foot yacht for its former co-CEO Sam Trabucco.

10. Tesla ($136,000)

In May 2022, KOL@greg said in a message to SBF, “Can typing more than 100 words per minute buy him a car”. Subsequently, @greg got a positive answer from SBF and received a Tesla Model S Plaid Edition, and tweeted after receiving it, “This is the craziest day of my life”.

11. Jimmy Buffett’s Margaritaville Resort ($59,000)

Alameda Research owes about $55,000 to the Margaritaville beach resort founded by American rockabilly singer Jimmy Buffett.

12. Rep. George Santos ($29,000)

SBF made campaign contributions to the Long Island candidate for the House seat, who is known for exaggerating facts and wire fraud allegations. But George Santos has denied wrongdoing and views FTX as its biggest corporate backer.