USA TODAY US Edition
FORMER CRYPTO EXCHANGE CEO DOWN TO LAST $100,000
Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX is down to his last $100,000 after the company’s rapid failure of FTX, Axios is reporting. The investor and founder of FTX pointed to personal failures and regulatory gaps to help explain the implosion of his company, valued at an estimated $32 billion in January. At one point, Bankman-Fried’s personal wealth reached $26.5 billion. He said “basically everything” he had was tied up in the now-failed company. FTX declared bankruptcy Nov. 11 and Bankman-Fried resigned as CEO.