- Sam Bankman-Fried catapulted into a crypto billionaire in a make any difference of 4 several years.
- He’s the co-founder of FTX, a cryptocurrency exchange, and Alameda Research, a investing organization.
- His net worthy of has reportedly dropped down to $1 billion from almost $16 billion.
The earth can change upside down within just a week.
Very last Tuesday, Sam Bankman-Fried was a 30 12 months-previous with a mop of brown hair and sufficient clout to go by his initials, SBF. He experienced a cryptocurrency trade named FTX, a investing firm called Alameda Investigation, and $15.6 billion to his title, in accordance to estimates from Bloomberg.
He experienced catapulted into a person of the greatest names in crypto in a subject of four a long time and was location his sights on mainstream finance.
Now, he’s remaining with just $1 billion and his initials.
The collapse of Bankman-Fried’s fortune has loomed for months. Stories have been circulating this yr that FTX was on a “shaky fiscal foundations” amidst more substantial instabilities the world crypto market, in accordance to The New York Occasions.
Here is how SBF went from crypto’s poster boy or girl to its best cautionary tale:
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- Sam Bankman-Fried catapulted into a crypto billionaire in a make any difference of 4 several years.
- He’s the co-founder of FTX, a cryptocurrency exchange, and Alameda Research, a investing organization.
- His net worthy of has reportedly dropped down to $1 billion from almost $16 billion.
The earth can change upside down within just a week.
Very last Tuesday, Sam Bankman-Fried was a 30 12 months-previous with a mop of brown hair and sufficient clout to go by his initials, SBF. He experienced a cryptocurrency trade named FTX, a investing firm called Alameda Investigation, and $15.6 billion to his title, in accordance to estimates from Bloomberg.
He experienced catapulted into a person of the greatest names in crypto in a subject of four a long time and was location his sights on mainstream finance.
Now, he’s remaining with just $1 billion and his initials.
The collapse of Bankman-Fried’s fortune has loomed for months. Stories have been circulating this yr that FTX was on a “shaky fiscal foundations” amidst more substantial instabilities the world crypto market, in accordance to The New York Occasions.
Here is how SBF went from crypto’s poster boy or girl to its best cautionary tale:
