Crypto Billionaire And Dem Donor’s $16
Billion Fortune Evaporated In A Matter
Of Days: Report
Posted By: Hazymac, 11/11/2022 3:04:39 PM
The value of the combined assets of the second-largest billionaire Democratic donor, Sam Bankman-Fried, has plunged from $16 billion at the start of the week to $0 following the collapse of his businesses, Bloomberg reported Friday morning. The estimation follows a liquidity crisis at crypto exchange FTX, which Bankman-Fried co-founded and retains a 70% stake in, according to Bloomberg. On top of the historic collapse in Bankman-Fried’s personal wealth, the U.S. arm of FTX is now valued at just $1, down from a peak of $8 billion in January. Both FTX and the Bankman-Fried-founded trading house Alameda Research filed for Chapter 11 bankruptcy Friday. Bankman-Fried is reportedly under investigation by both the
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CFO John Tyson after he passed out in
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4 replies
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Comments:
Easy come, easy go. Didn't Bobby Sherman sing that? Maybe the Donks will give Bankman-Fried a life loan. Not. Bankman is hereby fried.