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FTX Founder Sam Bankman-Fried Said to Be in the Bahamas

Former CEO of the bankrupt crypto exchange denies speculation he's flown to South America.

Sam Bankman-Fried, FTX co-founder
Sam Bankman-Fried, co-founder and former CEO of of bankrupt crypto exchange FTX.

Sam Bankman-Fried, the co-founder and former CEO of bankrupt crypto exchange FTX, said Saturday he's in the Bahamas, Reuters reported. In a text message sent to the news outlet, Bankman-Fried denied speculation he had flown to South America after being removed from his position at the exchange.

The text message came a day after the beleaguered cryptocurrency platform filed for bankruptcy protection and Bankman-Fried resigned as CEO on Friday, after the stability of its business was questioned. The exchange had been one of the biggest players in the cryptocurrency realm, The Wall Street Journal noted, but its meltdown has raised doubts about cryptocurrency and has left customers wondering if they'll ever get their money back.

Since then, FTX has investigating a possible hack involving hundreds of millions of dollars in cryptocurrency funds, which seem to have gone missing from its accounts. The company's general counsel tweeted out a statement Saturday that said "unauthorized access to certain assets has occurred" and that FTX had contacted law enforcement.

A day before resigning, Bankman-Fried posted a Twitter thread on Thursday apologizing multiple times for the current state of his company and saying he's going to raise liquidity. 

Neither Bankman-Fried nor FTX immediately responded to requests for comment.