- SBF had an ambitious plan to acquire Nauru Island before the downfall of FTX.
- The plan was outlined in court filings, aiming to establish a bunker on Nauru Island to protect FTX.
- Billy Markus made this surprising revelation about Sam Bankman-Fried’s island acquisition plan on X.
In a surprising revelation on X, Billy Markus, co-founder of Dogecoin, sheds light on the ambitious island acquisition plan of Sam Bankman-Fried, the now-bankrupt creator of the FTX cryptocurrency exchange. The plan, aimed at securing a future amidst apocalyptic scenarios, has sparked both curiosity and ethical concerns within the crypto community.
Billy Markus, one of the minds behind the creation of the meme cryptocurrency Dogecoin, recently took to Twitter to disclose an intriguing detail about Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange.
Unlike Jackson Palmer, Markus remains active on social media, and his recent revelation adds a new layer to the already eccentric world of cryptocurrency pioneers.
SBF had an ambitious plan before the fall of FTX
Before the downfall of the FTX exchange, Sam Bankman-Fried had an ambitious plan – to acquire Nauru Island. The motivation behind this move was rooted in security concerns, with Bankman-Fried anticipating a collapse of human civilization in the near future.
Court filings from a federal bankruptcy court in Delaware, dated late July, revealed that the island acquisition was intended as a survival strategy for both FTX and Alameda Research, Bankman-Fried’s trading firm, along with their respective staff.
The detailed memo, authored by SBF’s brother, Gabriel Bankman-Fried, outlined a comprehensive plan. The goal was to establish a bunker or shelter on Nauru Island to protect against potential catastrophic events such as massive fires or floods.
This bunker, conceived with members of the effective altruism movement in mind, was not just a mere refuge but a potential hub for scientific endeavors. Bankman-Fried envisioned creating a lab and implementing “sensible regulation around human genetic enhancement” in the aftermath of a major disaster.
However, ethical concerns emerge as the founder of FTX faces accusations of defrauding customers of approximately $8 billion in cryptocurrencies held on the platform.
