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Benzinga

Business

Chris Katje

How To Lose $16 Billion In 3 Days: How Sam Bankman-Fried's Wealth Disappeared

Sam Bankman-Fried FTX Sam Bankman Fried Changpeng Zhao Mark Zuckerberg Alameda Research Binance FTXUS

Several days ago, FTX co-founder Sam Bankman Fried saw his wealth plummet by over 90% to a value of $1 billion.

The significant drop came after a liquidity crisis wreaked havoc on FTX and the cryptocurrency market. At first, rival Binance agreed to acquire FTX.com but ultimately walked away from the deal.

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Top stories on inkl right now

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One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird and dozens more cars to pay back fraud victims

Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird and dozens more cars to pay back fraud victims

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