{"id":40122,"date":"2022-11-11T16:26:02","date_gmt":"2022-11-11T20:26:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=40122"},"modified":"2022-11-11T16:26:05","modified_gmt":"2022-11-11T20:26:05","slug":"sam-bankman-fried-16-billion-net-worth-drops-to-nothing","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sam-bankman-fried-16-billion-net-worth-drops-to-nothing\/","title":{"rendered":"Sam Bankman-Fried $16 billion net worth drops to nothing"},"content":{"rendered":"\n
Sam Bankman-Fried $16 billion net worth has now been reported by Bloomberg's<\/a> Billionaire Index to be $0 following the collapse of FTX.<\/h5>\n\n\n\n
\"Sam
Sam Bankman-Fried $16 billion net worth drops to nothing<\/figcaption><\/figure>\n\n\n\n

The CEO of FTX. Sam Bankman-Fried, is suffering as a result of what is arguably the most devastating collapse in the history of the cryptocurrency industry. <\/p>\n\n\n\n

The former crypto tycoon's entire fortune has declined in value in recent days. And as a result of the collapse of FTX,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> the 30-year-assets old's are disappearing.<\/p>\n\n\n\n

A probable trade stoppage has reduced the value of FTX to only $1 according to the Bloomberg Billionaires Index. Following that, the company was valued at about $8 million in a funding round in January. A downturn that undoubtedly had an effect on the platform's youthful CEO, Bankman-Fried, who still owns 70% of it.<\/p>\n\n\n\n

Additionally, according to Bloomberg, due to rumors that it was held through Alameda Research, Bankman-Fried investment in Robinhood Markets Inc., which was worth more than $500 million, is not factorable. The FTX trading<\/a> house is reportedly facing criticism, and it has been disclosed that $500 million will probably be kept as collateral.<\/p>\n\n\n\n

\"\"
Source: Bloomberg Billionaires Index<\/figcaption><\/figure>\n\n\n\n

A potential $8 billion liquidity problem has been experienced by FTX as a result of recent events. Even though the trading platforms' prayers for a savior have not yet been heard. Before they finished their due diligence, one of their biggest rivals, Binance, was ready to buy the platform.<\/p>\n\n\n\n

Binance withdrew from the agreement after more research, and now SBF is requesting more than $9 billion to save FTX. A group of investors, led by Justin Sun<\/a> and OKX, has been discussed as a possible solution to save the platform. However, there have not yet been any confirmed claims of a deal being closed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sam Bankman-Fried $16 billion net worth has now been reported by Bloomberg’s Billionaire Index to be $0 following the collapse of FTX. The CEO of FTX. Sam Bankman-Fried, is suffering as a result of what is arguably the most devastating collapse in the history of the cryptocurrency industry. The former crypto tycoon’s entire fortune has […]<\/p>\n","protected":false},"author":38,"featured_media":40128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3879,778,11872,10731],"class_list":["post-40122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bloomberg","tag-ftx","tag-sam-bankman-fried-2","tag-sbf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/hypatia-h_8cf1509cccaa24fb678971b6bfe8f6bb-h_3aba1c80e9f7c896d5b9effa19b5db3d-300.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=40122"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/40128"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=40122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=40122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=40122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}