FTX collapse: Bankman-Fried will get zero dollars

On the morning of November 8, Sam Bankman-Fried, the founder and CEO of FTX and Alameda Research, a hedge fund that also deals in cryptocurrency trading, was a billionaire.

He was one of the richest men in the world.

The 30-year-old former trader was an institutional figure in the crypto space, known by the initials “SBF”. He was just the king of the fledgling blockchain-based financial services industry. Bankman-Fried was a god in the crypto sphere. .

It gained this enormous power by rescuing and acquiring crypto firms weakened by the credit crunch caused by the bankruptcy of its sister cryptocurrency Luna and UST on May 9.

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