Absent Since FTX 2022 Downfall, Sam Trabucco Breaks Silence With Letter Of Endorsement

In a recent development, Sam Trabucco, a key figure in Sam Bankman Fried's inner circle, has resurfaced after being absent from the public eye following the collapse of cryptocurrency exchange FTX in late 2022.

According to Per Bloomberg, Trabucco has come forward to support Ryan Salame, another former FTX executive awaiting sentencing for his involvement in the platform's downfall.

Sam Trabucco's first call since FTX's bankruptcy

Trabucco's endorsement of Salama was expressed in a letter in which he described Salama as “the most fun, passionate and supportive friend” he has ever had. The letter, released as part of court filings on Wednesday, marks Trabucco's first communication since the days leading up to the FTX case bankruptcy In November 2022.

Trabucco previously served as co-CEO of Alameda Research, a cryptocurrency fund set up by Bankman Fried, and played a crucial role in Venture capital And market making. However, in August 2022, three months before FTX failed, he suddenly walked away from Alameda and withdrew from public life.

Unlike other Bankman-Fried confidants, e.g Caroline EllisonAlameda's other co-CEO, and FTX executives Gary Wang and Nishad Singh, Trabucco did not participate in the Bankman-Fried trial or contribute publicly available evidence.

As Bitcoin mentionedBankman-Fried was sentenced to 25 years in prison in March, while his former colleagues await their sentences in the following months. Notably, Trabuco has not faced any public accusations of wrongdoing.

A diverse group is rallying behind the former FTX CEO

Trabucco has a long relationship with Bankman-Fried, having known each other since their early days in mathematics camp at the Massachusetts Institute of Technology (MIT). According to Bloomberg, he often shared how his poker strategy influenced Alameda's strategy Trading decisions.

Before Alameda's collapse, Trabuco allegedly received about $25 million in transfers from the company. Furthermore, Alameda spent $2.5 million to purchase a 52-foot yacht for Trabuco, which he named “Soak My Deck.”

Ryan Salama, who previously oversaw FTX's digital assets unit in the Bahamas, pleaded guilty Conspiracy charges Related to running an unlicensed money transfer company and engaging in campaign finance fraud.

Numerous individuals, including a Georgetown University finance professor, a martial arts professor, family members, neighbors, former FTX employees, and Bahamian residents, have submitted letters in support of Salama.

As the legal proceedings progress, Sam Trabucco's appearance and endorsement of Ryan Salame sheds new light on the ongoing fallout from FTX's collapse.

The exchange's token, FTT, is trading at $1.65, down more than 3% in the past 24 hours.

Featured image from Bitcoinist, chart from TradingView.com