From $26 Billion to Nothing: The Rise and Fall of SBF and FTX

[Google News Bot]

In brief FTX founder Sam Bankman-Fried’s estimated fortune fell from $16 billion earlier this week to effectively nothing, according to a report. The crypto exchange faced a liquidity crunch and is alleged to have misused customer funds to plug trading losses. Amid FTX’s collapse this week, founder and CEO Sam Bankman-Fried (SBF) has rapidly transformed from a crypto industry icon and so-called “savior” into an ignominious figure, responsible for potentially billions of dollars’ worth of customer losses. And he’s apparently lost his whole fortune in the process, as well. Bloom ...

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