Sam Trabucco, a prominent figure in Sam Bankman-Fried’s inner circle, has reappeared publicly following the collapse of FTX in late 2022. He has come forward to support his former colleague, Ryan Salame, as Salame faces sentencing. Trabucco wrote in a letter of endorsement, “I will be missing the funniest, most passionate, most supportive friend I’ve ever had.” This letter, included in recent court filings, represents Trabucco’s first public statement since FTX declared bankruptcy in November 2022.

Sam Trabucco, formerly the co-chief executive of Alameda Research, a significant crypto fund founded by Sam Bankman-Fried, played a crucial role in venture capital and market-making in the crypto industry. In August 2022, three months before FTX’s collapse, Trabucco unexpectedly left Alameda and public life.

Sam Trabucco’s departure and return

Unlike other close associates of Bankman-Fried, including Caroline Ellison, Gary Wang, and Nishad Singh, Trabucco neither participated in Bankman-Fried’s trial nor provided any public evidence. Bankman-Fried was sentenced to 25 years in prison in March, while his former colleagues await sentencing to see if they will also face imprisonment. Trabucco has not been publicly accused of any wrongdoing.

When he left Alameda, Trabucco announced on Twitter that he chose “to prioritize other things” and would transition to an advisory role. He and Bankman-Fried have known each other since their days at math camp and MIT. Trabucco often discussed how his poker strategy influenced Alameda’s trades.

Trabucco personally received approximately $25 million in transfers from Alameda before its collapse. Furthermore, the firm spent $2.5 million on a 52-foot yacht for him, which he named “Soak My Deck.” Before joining Alameda and FTX, Trabucco worked at Susquehanna International Group’s bond ETF desk.

Support and legal issues surrounding FTX executives

Ryan Salame oversaw FTX’s digital assets unit in the Bahamas. He has pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and engage in campaign finance fraud. In addition to Trabucco, others who submitted letters supporting Salame included a Georgetown finance professor, a martial arts grandmaster, family members, neighbors, former FTX employees, and Bahamian residents.

Consequently, Trabucco’s reemergence underscores the deep personal relationships formed within the high stakes of cryptocurrency trading. Moreover, his support for Salame highlights the enduring connections among FTX’s key players. Trabucco’s return to the public eye adds another layer to the complex aftermath of FTX’s collapse.

As the crypto industry deals with the aftermath of FTX’s collapse, the behavior of its former executives remains a focal point of interest. Trabucco’s support for Salame adds a personal touch to a narrative largely defined by financial scandals and legal issues. Stakeholders and observers keenly monitor the industry’s recovery and the future of those involved.

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