Sam Bankman-Fried’s $16 Billion Fortune Now Becomes To Zero
The collapse of FTX is arguably the most devastating event in the history of the cryptocurrency industry, and its CEO Sam Bankman-Fried is suffering as a result.
According to Bloomberg Billionaires Index, Sam Bankman-Fried, the former CEO of now-bankrupt FTX and a former billionaire, had all of his net worth destroyed within the previous 24 hours, a fall of 100%.
A probable trade stoppage has reduced the value of FTX to only $1, according to the index. Following that, the firm was valued at about $8 billion in a funding round in January. A downturn that undoubtedly affected the platform’s youthful CEO, Sam Bankman-Fried, who still owns 70% of it.
Binance withdrew from the agreement after more research, and now SBF is requesting $9.4 billion to salvage FTX. A group of investors, led by Justin Sun and OKX, has been discussed as a possible solution to save the platform. However, there have not yet been any confirmed reports of a deal being closed.
The collapse of the exchange also had consequences at this time, causing the prices of coins to plummet at the time of FTX’s announcement of SBF’s resignation.
Find out more information about Sam Bankman-fired at Coincu.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
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Sam Bankman-Fried’s $16 Billion Fortune Now Becomes To Zero
The collapse of FTX is arguably the most devastating event in the history of the cryptocurrency industry, and its CEO Sam Bankman-Fried is suffering as a result.
According to Bloomberg Billionaires Index, Sam Bankman-Fried, the former CEO of now-bankrupt FTX and a former billionaire, had all of his net worth destroyed within the previous 24 hours, a fall of 100%.
A probable trade stoppage has reduced the value of FTX to only $1, according to the index. Following that, the firm was valued at about $8 billion in a funding round in January. A downturn that undoubtedly affected the platform’s youthful CEO, Sam Bankman-Fried, who still owns 70% of it.
Binance withdrew from the agreement after more research, and now SBF is requesting $9.4 billion to salvage FTX. A group of investors, led by Justin Sun and OKX, has been discussed as a possible solution to save the platform. However, there have not yet been any confirmed reports of a deal being closed.
The collapse of the exchange also had consequences at this time, causing the prices of coins to plummet at the time of FTX’s announcement of SBF’s resignation.
Find out more information about Sam Bankman-fired at Coincu.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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