Sam Bankman-Fried
$0.0B
Born
Mar 05, 1992
Age
33
Source of Wealth
cryptocurrency exchange
Residence
Nassau,
Citizenship
United States
Marital Status
Children
0
Education
Bachelor of Arts/Science, Massachusetts Institute of Technology
- Sam Bankman-Fried was one of the richest people in crypto, thanks to his FTX exchange and Alameda Research trading firm, before his empire came crashing down in November 2022.
- After users began withdrawing their investments from FTX at a rapid pace, Bankman-Fried filed for bankruptcy for FTX, FTX's U.S. operations and Alameda Research.
- On Dec. 13, 2022, the U.S. Attorney's Office for the Southern District of New York charged Bankman-Fried in an eight-count indictment with fraud, money laundering, and campaign finance offenses.
- Prosecutors added a charge in March for Bankman-Fried's alleged $40 million bribe paid to a Chinese official. His trial is set to begin in October 2023.
- The son of two Stanford law professors, he graduated with a degree in physics from MIT in 2014 before starting his career at Wall Street trading firm Jane Street Capital.
- Bankman-Fried's wealth peaked in early 2022 at an estimated $26.5 billion, most of which was tied up in his ownership of FTX and a share of its FTT tokens.
- Bankman-Fried poured hundreds of millions into mainstream marketing, including the naming rights to leading esports league TSM and the Miami Heat's arena.
- Bankman-Fried was the second largest billionaire donor to Democratic causes in the 2022 midterm election, giving nearly $40 million.
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