He was worth $16 billion on Monday. By Friday, the value of his assets was zero. Here's how it happened.
By Allison Morrow, CNN Business Sam Bankman-Fried woke up on Monday still a billionaire, even as his cryptocurrency empire was beginning to unravel. By Friday, his fortune was completely wiped out.
FTX on Friday said it filed for bankruptcy, and Bankman-Fried, known as SBF, resigned as chief executive. People are also reading… He told Reuters in July that he and FTX still had a"few billion" on hand to shore up other firms and help stabilize the industry. As a follower of"effective altruism," Bankman-Fried has sought to make as much money as possible in order to give it away. But the fate of his philanthropic endeavors is now in doubt.
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In less than a week, Sam Bankman-Fried's $16 billion fortune evaporated | CNN BusinessSam Bankman-Fried woke up on Monday still a billionaire, even as his cryptocurrency empire was beginning to unravel. By Friday, his fortune was completely wiped out.
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FTX founder Sam Bankman-Fried's net worth estimated at zero: ReportSam Bankman-Fried, founder of crypto exchange FTX, saw his net worth fall from $16 billion on Monday to zero on Friday, according to reports.
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