Founder Sam Bankman-Fried’s net worth plummeted 95% following the crash of FTX’s native FTT token, resulting in him losing his billionaire status.
SBF Is No Longer A Billionaire
According to data reviewed by the Bloomberg Terminal, Sam Bankman-Fried has lost a huge chunk of his valuation, forcing his hand to sell FTX to Binance’s Changpeng Zhao. His net worth, which used to be $16 billion till November 7, has plummeted to $991 million within just a day. The 95% drop in his net worth amounts to a significant $15 billion and removes SBF’s billionaire status.
The reduced estimate that takes away SBF’s billionaire status happened because the native token of the FTX exchange, FTT, fell over 83% to a low of just $2.67 from a daily high of $20.47. A large percentage of SBF’s wealth is tied to his business activities with both FTX and Alameda Research, meaning a reduction in FTT tokens would directly affect his personal wealth. Other than the FTX exchange, Bankman-Fried still h
We współpracy z: https://cryptodaily.co.uk/2022/11/ftt-drop-leads-to-founder-s-downfall
