Bankman Fred: I have “almost nothing” with a $26 billion demise

Sam Bankman is uniquewho at one point was worth $26 billion, now says he owns “almost nothing”.

Bankman who was a strip magnate cryptocurrency He put all his assets on the stock exchange.FTXHe and its sister company, Alameda Research, founded it, and he only has one credit card left linked to a bank account with $100,000. Bankman added that he is outspoken and has no money hidden, during a video conference at a conference organized by The New York Times.

Fred Bankman’s downfall came swiftly. In just a few days, he lost $16 billion as his empire went bankrupt.

Bloomberg index trimmed For billionaires The value of his ownership stakes in FTX and Alameda is zero. It also removed his holding of Robin Hood Markets from his wealth account following a report that it was in his possession through Alameda and may have been used as collateral for loans.

It would be impossible to ascertain whether Fred Bankman was telling the truth, and Bloomberg may not have tracked all of his assets. A report last November indicated that he owns more than $500 million in venture capital companies, including Sequoia, and was an investor in media startup Semafor. But if he had acquired those assets via Alameda, the losses might have wiped them out.

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