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Financial Times
Financial Times
Business
Nikou Asgari and Joshua Oliver in London

‘It just kinda went crazy’: FTX’s lavish spending highlights lack of controls

FTX founder Sam Bankman-Fried © FT montage/Bloomberg/Getty Images

When crypto exchange FTX moved its headquarters to the Bahamas from Hong Kong last year, employees discovered that Amazon did not deliver to the island. They quickly found an alternative, striking a private deal with an air carrier to fly their orders from a Miami depot.

FTX’s airmail programme, which was described in interviews with former employees, illustrates the lavish perks Sam Bankman-Fried’s crypto exchange bestowed on its staff before it collapsed into bankruptcy this month.

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