Flamboyant expenses, cult-like worshiping of SBF: Ex-staffer claims.

Ex-staffer at FTX Danielle Cloud shared a series of tweets on December 13, shedding light on internal workings of the infamous crypto exchange.
FTX bought 35 properties in the Bahamas.
A psychiatrist was also brought in to help employees cope with long working hours.

It was a dream run for Sam Bankman-Fried and team FTX, which all ended up in a bankruptcy filing on November 11, 2022. A former employee at FTX has exposed how the luxurious expenditures, work culture, and long working hours led to the company to hire a psychiatrist last year.

Danielle Cloud worked in the marketing department, posted a series of tweets on December 13, 2022, in which she said that she resigned two weeks ago after being hired in October 2021.

1. My ex – FTX 🧵
Two(ish) weeks ago, I formally resigned from my position as an FTX employee.
— Dani Cloud (@daniiicloud) December 13, 2022

She said she had a weird feeling from the start and has described the now bankrupt exchange with similarities to a luxury music festival like Fyre Festival. She also expressed how everyone at FTX was obsessed with SBF. She had never heard of him or the firm before joining.

She claimed that the best way to get a role at FTX was

“To be a female spouse of an existing employee,” someone who could apparently make it to an executive position in a month or two.

Also, shifts were a joke as they had 7 days working, and one employee was grilled for asking for time off on Thanksgiving.

Cloud started as a KYC analyst at FTX.us and was promoted in May 2022 to a full-time marketing role, a position requiring her to work the majority of her time away from the Bahamas.

Expenses on Luxury.

She had termed the entire operation to be ironically and moronically inefficient. And during her stay in the Bahamas HQ, she was amazed to know about the things money could buy. Cloud further claims that FTX had either rented or purchased multimillion-dollar homes for their executives, who used to throw lavish house parties and had private chefs.

10. Life in Nassau … I never knew all the things money could buy.
The multimillion $ homes of everyone in the C suite
The house parties and private chefs
Food catered 24/7 in the Bahamas office, in addition to the free groceries, monthly barbershop pop up, and biweekly massages
— Dani Cloud (@daniiicloud) December 14, 2022

Employees were provided with fully-paid stays at luxury hotels, along with several condos bought or rented by the company. The HQ had 24/7 catered food, free groceries for the employees, fortnightly massages, and a monthly pop-up barber.

CFTC had filed a suit against SBF, claiming that to purchase luxury real estate, he used customers’ funds. FTX had reportedly spent over $250 million on real estate, and they bought 35 properties in the Bahamas, according to a media report on December 13.

The gruesome workload made SBF bring in psychiatrist Dr. George K. Lerner. However, he was portrayed as a coach for consultation on business growth. But Cloud claims that he used to ask her intimate questions about her relationship with her fiance.

According to the new FTX CEO Ray, FTX used the accounting software Quickbooks; although the software is great, it’s not a tool for a multi-billion-dollar company. All these revelations indicate a clear lack of corporate ethics and morals in the working of the company.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing