The Tragic FTX Saga And Fall Of Sam Bankman-Fried – Crypto News – Crypto News
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Fall of FTX and Sam Bankman-Fried Fall of FTX and Sam Bankman-Fried

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The Tragic FTX Saga And Fall Of Sam Bankman-Fried – Crypto News

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FTX Sam Bankman-Fried Live Updates and Latest News:

Samuel Bankman-Fried, popularly known as SBF is the co-founder and former CEO of the Bahamas-based exchange FTX. FTX was one of the leading exchanges in the Crypto world. Its native token FTT started facing a crisis in mid-2022, It filed for bankruptcy in the United States in November, 2022.

At the peak of his life, his net worth was estimated to be $26 billion. In the month of October, this year his estimated wealth was at $10.5 billion. Amid the FTX crisis his wealth dropped by 94% in a day bringing him down to $991.5 million.

He donated huge sums of money to Democratic Party candidates in the US

live

2022-11-24T12:10:00+5:30

Expensive purchase surrounding FTX

The official property records show the parents of Sam Bankman-Fried and senior executives at FTX have bought property worth $121 million in the past 2 years across the Bahamas. This purchase consists of expensive homes having private beaches, condominiums in luxury resorts, etc. As claimed, these purchases were made by FTX to provide residence to its key personnel.

Another document shows his parents signing on a property facing the beach in Old Fort Bay, which was home to a British colonial fort in the 1700s.

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