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#CryptoCrash: Sam Bankman-Fried No Longer a Billionaire After $14.6B Wipe-out: Bloomberg
The FTX CEO lost an estimated $14.6 billion dollars – nearly 94% of his total wealth – according to the Bloomberg Billionaire Index.
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FTX CEO Sam Bankman-Fried has vanished from the Bloomberg Billionaires Index after his estimated personal wealth plummeted nearly 94% to $991.5 million in a single day.
#BigMoney
Comments
The last shoe to fall?
Glad I sold out during the weekend at 21,3k. Happy days.
Only $991.5 million. Sad days indeed.
I can donate $7 to help.
How can anyone trust any of these centralized exchanges at this point?
You can't unless you're suicidal, the implosion of Celsius(and other places even before it like MtGox lol) should have taught anyone that. If you're not holding your crypto on devices or keys that only you control it's not your crypto.
#tinyviolinFtx going down in flames. Here comes bankruptcy.
Damn I remember last year BTC was $60k
I feel like crypto will eventually find a stable ground. There will always be a use for it and always people who accept it as payment.
I lost about $7k while sleeping last night
Bloomberg reported the FTX exchange faces an $8 billion shortfall.
https://finance.yahoo.com/news/sbf-warns-ftx-investors-bankruptcy-220459314.html
"Apparently all El Salvador's official bitcoin holdings were on FTX."
On a scale of 0 to 10 of bad ideas, El Salvador's move to Bitcoin is 11.
Maybe, but those powdered BTCs was consumed like crazy. Everything comes and goes. Look at facebook, it's going downhill so rapid. Unimaginable level. 11k employees laid off, Zuck in tears. BTC the same: there was a start, there was a golden age and here we are at the end of an era. Sad, but interesting what comes next.
‘I’m sorry, I f****d up.’ Sam Bankman-Fried needs $4 billion. Fast
Sam Bankman-Fried is on a race to secure $4 billion to save FTX, after rival Binance ditched its 11th-hour bid to buy the collapsing crypto exchange.
Bankman-Fried reportedly told investors on Wednesday evening that FTX is facing a shortfall of funds up to $8 billion and is in danger of bankruptcy if the company doesn’t receive at least $4 billion to stay solvent, according to ..
https://finance.yahoo.com/news/m-sorry-f-d-sam-131252644.html
FTX is basically Fried.
easy come easy go.
That was a fake report, but El Salvador’s BTC gimmick was indeed a waste of public funds.
But still fine for smaller amounts I think. Sometimes convinient.
People kept fiat and crypto on FTX for active trading not for storing it in some Bahamian-regulated bank.
Spot the difference LUNA project owner and Sam Ex FTX CEO manager? He used customers funds to gamble unfortunately to me it’s a scam, so the answer to my question both scammers
Well, it's not 11 if they created their own exchange.
My bank likes to always remind me of having insurance so my money is safe.
Do any of these fucking exchanges have insurance?
I wish my net worth dropped to 991.5 million.
FTX files for bankruptcy, Bankman-Fried steps down
"I'm really sorry, again, that we ended up here," Bankman-Fried, a former crypto billionaire, said in a Twitter post that went out soon after the filing announcement.
https://finance.yahoo.com/news/ftx-bankruptcy-bankman-fried-steps-down-150838412.html
Storing crypto on exchange site, i never feel its acrually crypto. Crypto should store on a hardware device that never be accessible without me.
another one bites the dust....
991.5 million... basically a peasant. How will he survive?!! He should start a GoFundMe