BankmanFried

A few months ago the cryptocurrency exchange FTX was valued at about $32 billion. Its brand was plastered on the Miami Heat’s arena, and on the umpires during the World Series. Tom Brady was hawking it during the Super Bowl. Now, FTX is entering bankruptcy. More than a million creditors could have lost their money. And FTX’s founder, Sam Bankman-Fried, is facing the possibility of civil or criminal charges. The spectacular collapse of FTX is causing shockwaves across the finance and business worlds, but it’s…

Sam Bankman-Fried at a charity event on June 23, 2022 in New York City (left) Kevin O’Leary speaks onstage at a conference on December 8, 2016 (right)Image: Craig Barritt / Marla Aufmuth (Getty Images)Kevin O’Leary, an investor best known from the show Shark Tank, was asked on Tuesday if he’d still invest in Sam Bankman-Fried again, even after the FTX founder admitted to funneling billions of dollars in customer funds to his own hedge fundand caused the crypto platform to file for bankruptcy last week. O’Leary thinks…

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., on September 15, 2022.Photo: Graeme Sloan/Sipa USA (AP)FTX filed for bankruptcy on Friday, leaving reasonable people to wonder how a cryptocurrency platform founded in 2019, which reached a valuation of $32 billion in 2021, could plummet to zero in such a short time. There’s a new piece in the New York Times which gained exclusive access to FTX founder Sam Bankman-Fried, but if you’re looking for answers, you’re not going to find…

Nobody as rich as Sam Bankman-Fried ever spent so much time speaking to podcasters and explaining how they got rich. Weeks before the crackup of his cryptocurrency exchange and spectacular collapse of his wealth, the chief executive of FTX gave an interview that began with an illuminating question: What was the first thing his company did better than any other? Those two words read very differently after last week’s swift unraveling of FTX, a crypto giant valued at $32 billion before it vaporized into bankruptcy.…

The Greek tragedy unfolding in the financial press over the past week is the story of Sam Bankman-Fried, the would-be cryptocurrency tycoon and political kingmaker whose multibillion-dollar empire has sunk like the Titanic after its encounter with the iceberg.Bloomberg put it this way: “Bankman-Fried’s Assets Plummet From $16 Billion to Zero in Days.”The story under that headline reported that Bankman-Fried’s entire fortune had been “wiped out” in “one of history’s greatest-ever destructions of wealth.”I, ultimately,…

Bestselling author Michael Lewis, whose books include The Big Short and Flash Boys, is writing about the former boss of the failed cryptocurrency exchange for his next book.FTX, which was the world’s second largest cryptocurrency exchange, filed for bankruptcy in the US last week. Its founder, Sam Bankman-Fried, also resigned as chief executive.A leaked email from CAA agent Matthew Snyder, seen by The Ankler, revealed that Lewis has been embedded with Bankman-Fried for the last six months.Sam Bankman-Fried. Photograph:…

Elon Musk to launch new Twitter feature, apologizes for the slow platform. Read more tech news here! Good morning tech fam, here are some quick tech updates for you to catch on to! What’s New Today: Dream11 Co-Founder offers job opportunities to those talented employees being fired from big tech companies like Twitter and Meta. Fast-Track Insights: Kraken freezes user accounts related to FTX and Alameda as it suspects the accounts are related to fraud, negligence, and misconduct. New boss Elon Musk apologizes for…

For all the potboiler twists, stunning revelations and anguished Twitter threads, it’s a fall from grace with an unmistakable ring of familiarity. Few could have anticipated the breathtaking collapse of Sam Bankman-Fried's multibillion-dollar crypto empire.Yet for all the potboiler twists, stunning revelations and anguished Twitter threads, it's a fall from grace with an unmistakable ring of familiarity. The whirlwind week that began with two crypto CEOs tweeting barbs ended with the bankruptcy of FTX, one of the…

A day after Sam Bankman-Fried’s digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police . A day after Sam Bankman-Fried's digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police and regulators, according to a person familiar with the matter. Analysts say about $662 million in tokens mysteriously flowed out of both FTX's international and US exchanges. FTX had begun moving some of its assets to offline…

From the FTX bankruptcy and downfall of crypto "rock star" Sam Bankman-Fried to the chaos at Twitter, it has not been a good week for the geniuses of capitalism. Elon Musk's abrupt and in some cases already reversed decisions since taking over the social media company back up his contention that so far his tenure "isn't boring," but also expose the type of corporate governance issues that are too often repeated to the detriment of shareholders."Without a doubt, Sam Bankman-Fried is a genius," said Yale School of…