Scenes from FTX's perch in the Bahamas
Bradley is a Business & Finance reporter for Semafor, joining us from Business Insider. Sign up for Semafor Business to get his scoops and coverage of the industry.
The Albany resort — the secluded community that houses FTX founder Sam Bankman-Fried and his employees in the Bahamas — is a gated property with a marina for megayachts and equestrian trails.
Semafor spent time there to get a glimpse of their world. Here is what it looks like inside.
The marina, which FTX's penthouse overlooked, included a replica of Wall Street's charging bull statue situated not too far from where several yachts were docked.
Bankman-Fried, an investor in Semafor, lived on the top floor of the Orchid building. The above shot is from the ground directly in front of that development, looking across the marina at four of the other ultra-luxury buildings. Residences start at $5 million while Bankman-Fried's five-bedroom penthouse was recently listed for $40 million.
The western entrance to the resort has a couple of guards manning it at most hours of the day. Guests need a member to escort them or obtain permission to enter.
A sign down the road describing the Albany as a luxury resort community. The area outside of the resort is relatively remote compared to downtown Nassau.
The pool at the Island House, another luxury resort that is a 15-minute drive from the Albany, was a popular hang-out spot for FTX staffers who needed a break from their resort. The hotel does not require you to have a reservation to eat at their restaurant or use their pool.
The casino floor at the Baha Mar hotel, where Bankman-Fried and hedge-fund founder Anthony Scaramucci held their conference in April, was full of people with stories from the conference. Many staffers had pictures of panelists Bill Clinton and Tom Brady walking around the property.
Guards stationed at the Bahamas Securities Commission said stress levels at the agency, pictured above, were at an all-time high. The regulator, which oversees FTX, declined to give an interview to Semafor.
The implosion of the crypto exchange came the same week that Hurricane Nicole hit the island. While the hurricane did little damage, a few trailing storm clouds stubbornly hung around the island.