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According to a July 20 filing in FTX’s bankruptcy case, members of the company allegedly planned to purchase a small island nation in case of a disaster. The filing cites a memo between an unidentified FTX officer and Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried. The memo describes building a “bunker / shelter” in case of an event that kills 50% to 99.99% of the human population.
The memo also discusses the possibility of purchasing Nauru, an 8.1 square mile microstate in the Pacific Ocean. Nauru is known for its phosphate deposits, which made it a wealthy nation in the early 20th century. However, the phosphate deposits have been depleted, and Nauru is now one of the poorest countries in the world.
The memo does not specify how much FTX would be willing to pay for Nauru, or how the company would finance the purchase. However, it does state that the island would be used as a “safe haven” for FTX employees and their families in the event of a disaster.
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The memo’s contents have been met with mixed reactions. Some people have criticized FTX for its seemingly dystopian plans, while others have defended the company, arguing that it is simply taking steps to protect its employees.
It is unclear whether FTX will actually purchase Nauru, or if the memo was simply a thought exercise. However, the document’s contents have certainly raised some eyebrows, and it will be interesting to see how FTX responds to the allegations.
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