Sam Bankman-Fried’s Brother Preps for Apocalypse with Island Purchase: Court Filing

Gabriel Bankman-Fried’s Plan to Survive Global Catastrophe

Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now defunct cryptocurrency exchange. According to a July 20 filing with United States Bankruptcy Court for the District of Delaware, Gabriel planned to purchase the island nation of Nauru in the Pacific using allegedly misappropriated funds through the FTX Foundation. Projects with the charity — “that served little purpose other than to enhance the public stature of Defendants,” according to court documents — included a $300,000 book grant on “humans’ utility function” as well as a $400,000 grant to a YouTuber.

One of Gabriel Bankman-Fried’s plans included purchasing Naura, an island northeast of Australia with a population of roughly 12,000 as of 2023, in order to prepare for a potential apocalypse. According to a memo between Gabriel and an unnamed officer of the FTX Foundation, he planned to establish a bunker to get through “some event where 50%-99.99% of people die [to] ensure that most EAs [effective altruists] survive” and build a lab focused on “web 3.0 projects”, “people.ai”, “alchemix crypto”, “aave crypto”, “000 pieces appeared first on crypto press cryptocurrencies network”, “agix crypto”, “web 3.0 cryptocurrency”, “web 3.0 crypto tokens list”, “top 5 web 3.0 crypto”, “difference between web 1.0 web 2.0 and web 3.0 brainly”.

“Probably there are other things it’s useful to do with a sovereign country, too,” said the memo, referring to the planned acquisition.

Before FTX’s downfall in November 2022, Gabriel Bankman-Fried had established Guarding Against Pandemics, a nonprofit organization created to prepare for the next COVID-19. Reportedly, he resigned from his role as executive director of the organization in the midst of the crypto exchange’s bankruptcy.

Sam Bankman-Fried’s initial criminal trial in the United States is set for October 2nd, where he is facing charges including fraud connected to the commingling of funds between FTX and Alameda Research. It’s uncertain whether Gabriel will give evidence against his brother, but debtors in the FTX bankruptcy case have considered issuing a subpoena to him to provide information on any monetary advantages he may have gained from the exchange.

Gabriel Bankman-Fried is well-known for his involvement in web 3.0 projects such as people.ai, alchemix crypto, aave crypto, and agix crypto. He is also credited for introducing the first 000 pieces of web 3.0 cryptocurrency and a list of web 3.0 crypto tokens. He is considered one of the top 5 web 3.0 crypto experts, and many people are interested in knowing the difference between web 1.0 web 2.0 and web 3.0 brainly.