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TimeStamps:
00:00 Intro
00:52 Who is Sam Trabucco? | Former Alameda CEO
01:14 Sam Trabucco Caught Lying in 2021 FTX Interview?
02:38 Sam Trabucco Admits to “Mental Health” Issues
03:30 Proof That Sam Trabucco Knew About FTX BEFORE Collapse
05:56 Who is Gary Wang?
06:18 Trabucco Buys Over $10M+ on Luxury Properties
07:00 Trabucco Buys 52-foot Yacht Just Before Quitting
07:57 Caroline Ellison Admits to Fake ‘Quarterly Balance Sheets’
08:37 Sam Trabucco is a “Complete Whack Job” on UpOnly Interview
10:26 Final Thoughts
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Uh yeah just to uh to be clear uh I'm uh So I work for uh Alameda uh not FTX uh Uh bear uh yeah they're both founded by Uh Sam McAfee uh but yeah completely Different uh the the Quite robust Chinese wall between the Two Meet The Real Genius in this FTX Collapse who walked away with multi Multi multi-millions who's still running You see as we shared with you in Yesterday's video Sam bankman freed now Back extradited to the us out on bail Walking Among Us for 250 million and Unlike Caroline and unlike Gary Wang who Are now in custody cooperating admitting To fraud we can look back on the who's Who in the FTX Inner Circle and we can See the one person that made the most Money had the most power in the company It was also able to walk away clean this Man's still on the run I'm talking about Sam Trabuco he is the former co-ceo of Alameda research one of the firm's first First hires who oversaw the development Of even riskier trading strategies And he retired early in 2022 months Before the collapse And by the way looking back at some of This old footage It's so obvious Sam Trabuco former Alameda CEO hiding Secrets just look at How he glances away when asked if SBF is Still involved in the day-to-day Ops at Alameda his tell is that he looks up and
Away when he's lying can he count the Lies and so we're certainly not like Tied to any one place if it becomes Correct to move to a different place Than we will for the for now alameda's Uh like most of alameda's operations are Still based in Hong Kong but we'll see What happens going forward okay and I Say that obviously because your uh cocio Was Sam bankman freed he's moved his Operations from at FTX from Hong Kong to The Bahamas and and since he stepped Away from Alameda research you have a New co-ceo uh Caroline Ellison Congratulations uh by the way on Formalizing it but from what I Understand that Sam has not been much Evolved with Almeida since going on to Um of FTX sub or is he is is he still Involved with Alameda Um he's really not involved at all in The day-to-day operations of Alameda Caroline and I have been uh leading the Charge there for quite some time uh and Yeah the the announcement a few months Ago uh was really just to formalize what Has been true for quite some time Sam Trabuco resigned just nine months later On August 24th 2022 months before the Collapse now let's cut to September About one month before the collapse Sam Trabuco said this about why he left Citing his mental health in terms of my Motivation uh I uh like Alameda is like
A super intense Place uh that I really Really enjoy being at um and you know The problems they're working on are Super interesting I really love all the People there Um but it's like intense enough that uh It was intense enough for long enough For me uh that I essentially just got Like classically burnt out Um and you know that happened and like On some level that happened like years Ago uh and I've sort of been like Treading Water ever since uh terms of uh You know tending to uh you know mental Health or whatever but Uh yeah I just felt like the burnout and Like continuing to be in in such an Intense environment wasn't really Working for me anymore now Austin let's Just be real here while this I mean this Isn't damning he seems like sort of a Lovable idiot even though I'm sure he's Very smart Sam Trabuco is not the secret Genius probably was complicit but he's No Caroline he's no Gary Wang they're Both lawyered up in jail right now Actually working with prosecutors they Have both posted bail but they've pled Guilty while Sam Trabuco knew when to Walk away in fact months before the Collapse this happened Former Alameda CEO Sam Trabuco spent Over 10 million dollars on luxury Properties months before the FTX
Collapse did he know what was happening I say yes I say he knew the fishy Illegal Behavior was going on and he Chose to get out in fact listen to one Of the reporters at coindesk ask Sam Trabuco a simple question If FTX Alameda or wiring USD to tether Through U.S banks such a basic question About how they do business the nothing Proprietary about that just a simple Question Sam Trabuco is speechless and Remember we later found out that FTX Alameda didn't really have the cash they Said they had all this money but they Didn't really have anything who are you Redeeming it from are you redeeming it From tether or bitfinex That's the tether organization that's Who we're talking to Are you using U.S based Banks such as Citibank when you wire for to receive The tether are you sending it through U.S banks or are you using any anything Other than Dell tech Uh like the banks that we're using are The banks that we're they're using Either or I mean are you using non-us Banks to or using U.S banks to to Purchase tether Uh the Sorry I'm not sure I'm following your Question Are you using Oh no
Lawrence has uh Gone Frozen on oh wait You're back you say why your wire money To tether right to receive tether You wired dollars that's right that's That's correct okay is is it are using U.S banks such as Citibank are using Who are you what bank are you using to Wire the money to tether Is not going to disclose the bank that It's using now for those wondering well Who is Gary Wang or who are some of These other players in the FTX Inner Circle I do encourage you to watch this Video immediately right here the real Criminal in the FTX crypto fraud Scandal Is because Gary Wang was undoubtedly The Mastermind yet he wasn't smart enough to Get out in time Sam Trabuco on the other Hand did get out cashed out in a big big Way allegedly and here's exactly what he Purchased as we know Trabuco announced An early retirement just months before November when the collapse happened and Since then he appears to have vanished Entirely from social media yet went on a Massive all-cash property shopping spree So what did he purchase the final Purchase price of his two properties Allegedly just next door to each other Was a whopping 8.7 million all cash no Loans Trabuco closed on the deal in June 2021 so that was early that was the Start Trabuco who is a longtime friend Of sambang and freed was also noted by
Financial Times to have purchased a 52-foot yacht just before quitting he Chose to call it soak my deck and Apparently paid somebody on Fiverr to Come up with a logo and yes somebody on Fiverr is claiming and it seems to have Been substantiated that Sam Trabuco did Get his new logo design back in the day By running 8 is 9 contest and this is The logo that won first yacht soak my Deck this super yacht the 52-footer is The same length as the Ott that 3ac Attempted and ultimately failed to buy And the yacht is a 2022 model which Points to a purchase price far north of A million dollars damn if he has all This property like the yacht it should Be easy to find him right while the Yacht was registered with the US Coast Guard in November it can't be tracked It's unclear which country it's Currently Harvard in or whether it's in International waters Sam Trabuco cashed out while Caroline While Gary Wang played too long and Found out the house always wins as of This morning Caroline Ellison Alameda CEO admits she colluded with SBF to Borrow unlimited amounts from FTX Customer funds and in a direct quote From Ellison to the U.S District Judge She says we prepared certain quarterly Balance sheet that concealed the extent Of alameda's borrowing and the billions
Of dollars in loans that Alameda had Made to FDX Executives and to related Parties so two sets of books to be able To lie to be able to commit fraud just Re-watched Sam Trabuco on up only TV From about a year ago Dude is a complete Whack job man brags about FTX EV Enterprise Value talks about not being Levered says they can't risk not Existing you can't make this crap up Kind of on the note of like whatever is Plus CV let's take this same scenario From earlier it goes below 30 000 and Let's say you all went I don't know what Your like how you collateralize and Whatever let's say you got to like a 1x Position you know Alameda was fully long If it goes lower or it gets to a point Where you're like there's no way in hell This is it uh let's say like 4K March 2020 type of scenario are you willing to Leverage the fund Beyond 1X or is it do Y'all try to like stay uh unlevered for Them like for the most part Uh yeah we we would never get to Anything close to that uh for the most Part Um that uh Uh yeah like uh like when I say that we Have uh like a capital base that like Lets us make mistakes and not have to Like be petrified of it going wrong uh Like I I mean that in the context of Like oh like we we aren't risking
Literally every dollar we have uh it Would be kind of a challenge too anyway Uh But uh yeah we're not um yeah we we we We don't do things like that Um and Yeah I mean part of it is that like oh Like like yes realistic risk limits do Have to exist at some point because uh Like even if we're putting on a really High EV trade in the short term uh like We can't ever risk not existing anymore Because our EV in the future is just so High uh that like ceasing to exist is Like very very bad uh either from just Like any perspective ignoring that like I kind of like having a job This is an ongoing story make sure you Hit subscribe we drop a video every Single day keeping you informed on the Crypto market like always see you Tomorrow Merry Christmas
