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The Church Street Inn in Lenox, MA.Business Wire/AP

  • FTX CEO Ryan Salame has reportedly bought $6 million worth of restaurants and real estate in Lenox, Massachusetts.

  • A local official told The Berkshire Eagle that he is “concerned” about what the collapse of FTX means for the town.

  • Last year, the newspaper reported that Salameh owned nearly half of the city’s restaurants.

Lennox, Mass., a town of 5,000 residents, is watching FTX’s decline closely because one of the company’s co-CEOs owns a significant property portfolio in the town.

As first reported by The Berkshire Eagle, Ryan Salame, who was CEO of FTX Digital Markets, invested $6 million in restaurants and real estate in Lenox. Last year, the same newspaper reported that Salameh owned almost half of the city’s restaurants.

FTX filed for bankruptcy and its founder Sam Bankman-Fried was arrested last week. Bankman-Fried is accused of siphoning client funds at her trading firm, Alameda, and using some client money to buy luxury real estate and fund political donations.

Salame received a $55 million loan from Alameda, according to bankruptcy filings, and donated $23 million to mostly Republican political candidates.

Jennifer Nacht, executive director of the Lenox Chamber of Commerce, told The Berkshire Eagle that she is “concerned” about what the collapse of FTX “means” for Lenox.

Salame’s company, Lenox Eats, and his attorney, Jason Linder, did not immediately respond to Insider’s requests for comment.

Two days before FTX filed for bankruptcy, Salame alerted authorities to possible wrongdoing at the company, according to court documents. The Wall Street Journal also reported that Salameh vomited upon hearing of FTX’s impending collapse.

Read the original article on Business Insider

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