2 years ago
The Bloomberg Terminal has updated its estimation of FTX CEO Sam Bankman-Fried’s nett worthy connected Nov. 8 to $991 million, down from $16 cardinal the time before.
Source: BloombergThe reduced estimation that takes distant SBF’s billionaire presumption comes arsenic the autochthonal token of the FTX exchange, FTT, fell implicit 83% to a debased of conscionable $2.67 from a regular precocious of $20.47. A ample percentage of SBF’s wealthiness is tied to his concern activities with some FTX and Alameda Research, meaning a simplification successful the terms of FTT tokens would straight impact his idiosyncratic wealth.
The crypto assemblage connected Twitter, ne'er to shy distant from adding drama to tragedy, shared memes and anecdotes comparing SBF to Mark Zuckerberg and the fictional Russ Hannemann from the TV amusement Silicon Valley. Hannemann had a akin acquisition losing his “3 commas” status, becoming “just” a multimillionaire. In addition, galore users commented that SBF’s autumn from grace outweighs astir retail investors’ 2022 losses.
Live look wrong SBF’s location rn: https://t.co/FUexsxezLN
— _ (@ms75015577) November 8, 2022
The FTT token has recovered somewhat arsenic it trades up 83% from its regular debased astatine $4.77 arsenic of property time. SBF is known to besides person holdings successful Voyager Digital, Robinhood, Alameda Research, and BlockFi, which marque up immoderate of his inactive multi-million fortunes.
The station Sam Bankman-Fried’s nett worthy fell 93% successful 1 day, loses Billionaire status appeared archetypal connected CryptoSlate.
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