Not that long ago, Sam Bankman-Fried was on top of the world. Sporting a net worth of approximately $15.6 billion, Bankman-Fried was the CEO of FTX, a cryptocurrency exchange platform launched in 2019 that had accumulated more than a million consumers by 2022. At 30 years old, he was extremely successful — that is, until last week when he was exposed as a con artist.
After a Nov. 2 article from the digital currency news site Coindesk revealed that FTX and Bankman-Fried’s cryptocurrency trading firm Alameda Research had notable overlaps on their balance sheets that called into question FTX’s liquidity, users proceeded to withdraw $6 billion from the company, leading to its bankruptcy. As Gizmodo reported, Bankman-Fried has “admitted to funneling billions of dollars in customer funds