Samuel Bankman-Fried is a businessman and investor from the United States. Bankman-Fried made his fortune as the founder and CEO of FTX, the world’s second-largest crypto exchange.
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He founded FTX in 2019 and has since grown it into one of the most important exchanges for buying and selling crypto derivatives. Investors valued FTX and its US operations at $40 billion in early 2022
The majority of his fortune, which peaked at an estimated $26.5 billion, was invested in approximately half of FTX and a portion of its FTT tokens.
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Sam Bankman-Fried was one of the wealthiest people in crypto before his FTX exchange and Alameda Research trading firm collapsed in November 2022.
Following FTX’s liquidity crisis, according to Bloomberg Billionaires Index, his net worth was estimated to have dropped 94% in a day to $991.5 million on November 8, 2022.
Sam Bankman-Fried planned to donate his entire fortune to charity, which topped $25 billion not long ago.
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