Unfolding the Memo: A Plan for Survival?

The recent filing in the Delaware Bankruptcy Court has put a spotlight on Gabriel Bankman-Fried, brother of the infamous Sam Bankman-Fried. According to court documents, a memo circulated between Gabriel and the FTX Foundation proposed a rather eyebrow-raising plan to purchase the island nation of Nauru, aiming to prepare for an apocalyptic event. It’s a scenario that begs the question: what are the Bankman-Fried brothers up to?

The Nauru Proposition: More Than Just an Island

Nauru, a tiny island in the Pacific, was the focus of an ambitious survival plan. Allegedly funded with misappropriated assets from the now-defunct cryptocurrency exchange, the plan stated a vision of establishing a bunker to ‘survive an event where 50% to 99.99% of people’ might perish. Because why not, right?

What Was On the Table?

Among other quirky financial moves mentioned in the memo, Gabriel and the team threw around ideas like:

• A $300,000 book grant for exploring “humans’ utility function” – whatever that means!
• A $400,000 grant to a YouTuber, presumably to spread the word about their questionable apocalypse plans.

Talk about spending priorities! The memo stated, “Probably there are other things it’s useful to do with a sovereign country, too,” suggesting a wide array of delightful options for handling a world gone mad.

Disclaimer from the Defense

In a twist befitting a legal drama, Gabriel’s attorney vehemently denied his involvement in crafting or endorsing the proposal. “Gabriel did not create, endorse, contribute to, or draft a plan to acquire Nauru,” they stated, arguing that he was merely the unintentional recipient of the memo. Sounds like a classic case of ‘I was just CC’d’ in corporate communications.

From Nonprofit to Bankruptcy: A Downward Spiral

Before the FTX collapse, Gabriel was at the helm of a nonprofit named Guarding Against Pandemics. However, he resigned amid the ensuing chaos, demonstrating how quickly fortunes can turn in the crypto world. One week you’re preparing for pandemics, the next you’re entangled in a legal quagmire involving your brother’s high-profile trial.

The Wait Continues: What’s Next?

As Sam Bankman-Fried gears up for his criminal trial on October 2, where he faces multiple fraud charges, the speculation on Gabriel’s involvement continues to swirl. Will he testify against his brother, or will he choose to remain silent? Only time will tell, but the curiosity surrounding this dramatic family saga is certainly keeping the news cycle lively.