Trabucco, who quit months before the crash, has avoided criminal charges but is facing enormous financial consequences. Sam Trabucco, former co-CEO of Alameda Research, has agreed to transfer high-value assets in a settlement with FTX creditors. Trabucco will transfer ownership of two luxury condominiums in San Francisco valued at $8.7 million, as well as a 53-foot boat purchased for $2.5 million in 2022.
The settlement will also result in Trabucco losing $70 million in claims against FTX. This deal follows intensive negotiations between Trabucco and FTX to avoid a costly and protracted judicial struggle. On November 10, a public court petition detailed the settlement, awaiting evaluation at a court hearing on December 12. According to the motion, this agreement is considered more beneficial to FTX creditors than pursuing a case against Trabucco.
Trabucco resigned from Alameda Research in August 2022, just a few months before FTX and its affiliates collapsed. Trabucco has not faced any misconduct charges, despite concerns about his role in the company’s failure. He took considerable financial risks at Alameda, including aggressive trading methods that ultimately led to the company’s demise. Since the misuse of client funds led to FTX’s bankruptcy, Trabucco has remained out of the public eye.
He has avoided active engagement in the judicial procedures against FTX’s management. While he has not publicly admitted to any wrongdoing, his financial settlement underscores continued efforts to manage the complicated aftermath of the FTX collapse.
