MIAMI — FTX founder Sam Bankman-Fried got a thumbs up from Miami Mayor Francis Suarez during a joint appearance last year when an interviewer asked the 29-year-old mogul if a crypto company approaching a $25 billion valuation really had the financial staying power to fund the full 19 years on its $130 million sponsorship deal for the city’s basketball arena.
“It’s been a pretty good year for us, to the point that, frankly, we don’t need to rely on the other 18 years to have the funds for this,” Bankman-Fried said during the May 7 event at the 2021 Ethereal Virtual Summit. Bankman-Fried described a “phenomenal year” for the crypto industry “and us, in particular.”
What a difference 18 months can make.
