With fraudulent FTX kingpin Sam Bankman-Fried now released on US$250 million bail and two of his cohorts – Caroline Ellison and Gary Wang “cooperating” with the investigators and exposing lots of secrets of this notorious fraud racket, and while another key beneficiary of FTX Ponzi scheme, Nishad Singh gone into hiding – a new name now has surfaced the media, who was one of the top-members of the FTX or SBF cult.
According to media reports, now the spotlight has turned on Alameda Research’s former co-CEO Sam Trabucco as evidence shows he also has played a key role in the FTX scandal.
Sam Trabucco, who was the co-CEO of Alameda Research along with Caroline Ellison until August 2022 when he stepped down from the role of CEO, has come under the spotlight as former Alameda Research CEO Caroline Ellison has detailed that misconduct happened in 2019 when he was still at the firm.
Also read Web of fraudulent ventures of YEM coin kingpin Daniel Settgast
Notably, Sam Trabucco has been largely silent amid the FTX chaos, and he only posted two tweets during the entire incident. First, on November 6, when speculations around the health of FTX were gathering momentum, he retweeted a tweet written by Caroline Ellison that said:
“[Changpeng Zhao] if you’re looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!”
Then on November 8, Sam Trabucco tweeted: “Much love to everyone — I’m sure the past few days have been dark for many and I hope the road ahead is brighter”.
Ever since the ex-Alameda executive Sam Trabucco has been completely inactive on Twitter and other social media platforms.
Meanwhile, some Twitter users have speculated that Sam Trabucco is being hunted by law enforcement. “The FBI is now looking for Sam Trabucco, the Former Co-CEO of Alameda Research and Nishad Singh”, the Twitter account called “Wall Street Silver” has said.
Others noted that law enforcement has been hinting at Sam Trabucco and Nishad Singh among others, when asking additional co-conspirators to come forward and cooperate.
So far, it has been revealed that three former FTX and Alameda executives have turned on SBF, which includes Caroline Ellison, Gary Wang, and Ryan Salame. Two other execs people are curious about include FTX’s former director of engineering, Nishad Singh, and FTX’s former head of product Ramnik Arora.
Notably, US prosecutors didn’t publicly reveal that Caroline Ellison and Gary Wang were facing potential criminal charges or that they had pledged to work with investigators before it was confirmed that SBF was being extradited to the US.
Also read Biden administration doesn’t touch FTX mastermind Nishad Singh
Meanwhile, CNBC Mad Money host Jim Cramer has lashed out at crypto investors once again, saying he wouldn’t get involved with it “in a million years”.
In an interview, Jim Cramer spoke out against crypto market participants who hold various crypto assets like Solana and Litecoin, calling them “idiots”. He said: “I would not touch crypto in a million years because I wouldn’t trust the deposit bank”.
“They fought regulation. They didn’t want regulation and you don’t have regulation”, Jim Cramer said, suggesting that he does not trust any platforms that do not want regulation.
“Try getting your money out”, Jim Cramer said, claiming that he didn’t have a good experience withdrawing his money from a crypto company. “It was a fight to get the money out — a fight!”
Bitcoin, the world’s largest crypto exchange, has been hovering around the US$17,000 mark since the start of November, which is down by almost 75 percent compared to its ATH of US$68,789.63 recorded in November 2021. Similarly, Ethereum is down by around 75 percent from its ATH of US$4,891. Cramer said:
“I think that everybody who owns these various coins — you know, Solana, Litecoin — I do think you are an idiot, okay. I did not go to college to get stupid. These people who own these things should not own them. They shouldn’t own them”.
The famed investor also called out Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), to “come on and enforce” crypto firms, claiming that securities laws are adequate for the regulation of the crypto industry.
“I think they need to do a big sweep. They have to stop people creating money. It’s the creation of money by cretins. I don’t think cretins should create money and then suck people in. These are worse than even the worst Nasdaq stocks”.
