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Bibhu Pattnaik

FTX Cryptocurrency Exchange Spent $15M On Private Jets, Faces Trial Over Political Contributions

FTX Sam Bankman-Fried Cryptocurrency TIA Alex Wong Amazon Prison the House Financial Services Committee

CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building in Washington D.C. in 2021. He faces charges of Gross misconduct. ALEX WONG/GETTY IMAGES.

NASSAU, The Bahamas — Before its collapse, FTX, a leading cryptocurrency exchange, and its founder Sam Bankman-Fried reportedly splurged millions on chartered private jets for travel and package deliveries.

What Happened: FTX shelled out an estimated $15 million on private jet services, specifically from a Bahamian airline named Trans Island Airways (TIA). This hefty expenditure enabled Bankman-Fried to make multiple trips to Washington, D.C.

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