Mr. Bankman-Fried spent much of Crypto Bahamas commuting back and forth from his laptop to the convention stadium. Even his mother, Barbara Fried, struggled to spend time alone with him: When she was trying to get his attention one afternoon, a blockchain brother in a polo shirt pressed Mr. Bankman-Fried cornered and asked him to film a birthday message for a friend. Minutes later, he was backstage, shaking hands with Tony Blair and making awkward chatter about Brexit.
Unlike some crypto conferences, the Bahamas meeting was by invitation only and attracted a large audience. As a party favor, FTX guests received discounts from a private jet airline. During the bus ride to a beach party, one attendee spoke of his crypto hunting collective – “the most exclusive club that is most inclusive once you get there.”
In places like Puerto Rico, the arrival of crypto millionaires chasing tax breaks has rocketed home prices, much to the ire of longtime residents. But the Bahamas’ political leadership has welcomed FTX with open arms. Prime Minister Philip Davis kicked off the first day of conference programming with an enthusiastic speech, declaring that crypto entrepreneurs are “better for innovation and change than most people on Earth”. Later, in an interview, Mr. Davis said he was pleasantly surprised when Mr. Bankman-Fried wore a suit to a meeting at his office. “We want you to be here,” Mr. Davis recalled telling him.
Mr. Bankman-Fried skipped most of the conference festivities, but he didn’t neglect his hosting. He dined with Mr. Blair and Mr. Clinton and rarely turned down a selfie. He also made time for Mr. Scaramucci, the president of SALT, a corporate event organization that helped organize the conference.
SBF’s double act with the Mooch marked the end of Crypto Bahamas. Back in the green room, FTX employees exchanged hugs and high fives. Mr. Bankman-Fried was scrolling on his phone. He stretched and ran his hands through his hair. Then he looked at his watch. The comedy part had lasted about four minutes. “I have a lot of emails to catch up on,” he said.
Outside, the convention center emptied out as hundreds of crypto enthusiasts headed for the airport. It was the calm before the impending meltdown. To exit the resort, guests had to walk through the Baha Mar casino, the largest in the Caribbean, a brightly lit lobby with flashing slot machines.
