Tuesday 29 November 2022 04:51 PM FTX-backed crypto firm Alameda owes more than $55,000 to Jimmy Buffet's ... trends now
FTX-backed cryptocurrency firm Alameda owes more than $55,000 to Jimmy Buffet's Margaritaville beach resort, based in the Bahamas.
Although names were redacted from FTX's top 50 creditors list, the bankruptcy documents did reveal creditors to Alameda, which was run by disgraced founder Sam Bankman-Fried's ex-girlfriend, Caroline Ellison.
According to the documents, Margaritaville is owed $55,319, the fourth-largest debt for Alameda, which crashed following the fall of FTX as the company declared bankruptcy, Business Insider reports.
The tab echoes the claims of a party culture that thrived at FTX, which is also based in the Bahamas and once held a star-studded event in the Caribbean island with tickets selling at $3,000-a-head.
FTX-backed crypto trading firm Alameda owes $55,319 to Jimmy Buffet's Margaritaville beach resort. It's the fourth biggest debt of the company, which along with FTX was founded by Sam Bankman-Fried (left) and run by his ex-girlfriend, Caroline Ellison (right)
The four-star resort located on the Bahamas' Nassau beach (pictured) featuring a sprawling system of pools, restaurants, bars and event a 5,000-square-foot work area
The resort belongs to the Margaritaville singer (above), whose sprawling bar and resort empire includes a $1 billion retirement community in Florida
Along with Margaritaville, Alameda owes more than $4.6 million or Amazon Web Services and hundred thousands more to various law firms around the world
Buffet's Margaritaville resort in the Bahamas opened last year, the latest in the singer's bar and hotel venture that has grown to include a $1 billion retirement community in Florida.
The four-star hotel lies on the beach in Nassau, featuring a sprawling system of pools, restaurants, bars and event a 5,000-square-foot meeting area for those on working vacations.
The most expensive suite, the presidential suite, costs more than $3,300 per-night. Drinks at the bar vary, with a popular bottle of prosecco going for $62.
The resort did not immediately respond to DailyMail.com's request for comment.
Along with spending thousands at Buffet's resort, Alameda's biggest debt comes from Amazon Web Services, which is owed more than $4.6 million.
The company also owes nearly $170,000 to two Australian-based law firms, Herbert Smith Frehills and Piper Alderman Law, which helped establish a subsidiary of FTX trading.
Also owed was Bloomberg Finance with a bill of $120,304; the MaxLaw Global law firm for $33,975, and the Kim and Cheng Korean law firm for $25,281.
Many on Twitter were quick to poke fun at Alameda's Margaritaville debt
Many on social media were quick to mock the Margaritaville tab as the latest controversy for the sinking FTX and Bankman-Fried.
One Twitter user named Owen, wrote: 'Jimmy Buffett never seeing that 50k omg.'
Derek Fox, another Twitter user, made up parody lyrics to Buffet's 1977 tropical hit, Margaritaville, where the franchise gets its name.
'Wasted $50k away in Margaritaville FTX? Less like a bank, more like a joke. Some people will say it was a Ponzi by name, but I know Crypto's all a pig in a poke.'
Fellow Twitter user Bruce Templeton appeared to poke fun at Bankman-Fried, who had tried to pass the buck on FTX's failure to his ex-girlfriend.
'Let he who has not racked up a massive bill at a bar called Margaritaville cast the first stone,' Templeton wrote.
The Margaritaville is the latest example of the party culture that was alive and well in FTX despite the pitfalls the company fell into before filing for bankruptcy.
