As crypto fintechs scramble to raise capital after being exposed to the collapse of FTX, more details are coming to light of Sam Bankman-Fried’s crypto empire in the Bahamas, which includes a penthouse in a luxury gated resort and a $60 million headquarters that was never built.
Fortune reporter Leo Schwartz spent most of last week down in the Bahamas—debunking a fake listing for said penthouse, visiting an abandoned construction site, exploring the crypto exchange’s ties to the Bahamian government, and revealing FTX employees’ lavish lifestyles.
