Sam Bankman-Fried strikes apologetic pose as he describes being shocked by FTX's fall 


By priyanka

How much is Sam Bankman-Fried worth now? 

FTX, a cryptocurrency exchange that operated around the world, collapsed as panicked traders pulled $6bn out of the company in just three days after a series of bombshell allegations. A crypto entrepreneur says his net worth has fallen from more than $26bn to $100,000 after his company imploded.

Where does Sam Bankman-Fried live? 

Bitcoin fell to its lowest price in two years, and on Monday, BlockFi, which had been bailed out by FTX, filed for bankruptcy. The rapid fall of this empire has left so many questions about crypto, about the future of it, and whether it can be trusted again. Sam Bankman-Fried joins us right now live from the Bahamas.

How much is FTX company worth? 

He said determining his wealth was “complicated,” and that basically everything he had was “tied up in the company,” which was valued at $32 billion before its collapse. Of course, earlier this month FTX filed for Chapter 11 bankruptcy.

What caused FTX to collapse? 

FTX disintegrated practically overnight after it was unable to meet a run on deposits that left the company with an $8 billion hole in its accounts. Within a week, the crypto exchange filed for bankruptcy.

How FTX failed? 

Meanwhile, FTX's bankruptcy is chaotic. Police in the Bahamas questioned Bankman-Fried over the firm's collapse, amid a criminal investigation. And a mysterious potential hack siphoned $515 million from FTX and risked triggering widespread data leak.

What crypto Does Sam Bankman-fried own? 

Sam Bankman-Fried, the now-former CEO of FTX, encouraged the cryptocurrency exchange's customers to buy its own cryptocurrency, called the FTX Token

How did Sam Bankman-Fried make his money? 

He founded the cryptocurrency exchange FTX in April 2019 and launched it in May of that year. As the cryptocurrency world burst into prominence during the COVID-19 pandemic, Bankman-Fried and his Bahamas-based company thrived. FTX acquired the Blockfolio exchange and platform in 2020 for $150 million.