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
MicroStrategy buys 15,350 BTC; Ripple launches RLUSD; Lido exits Polygon; BTC drops post-ATH; reduced liquidity…
Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
This website uses cookies.