*** Newest Subscriber ⭐️ Anh Duy ⭐️ ***
This Crypto Billionaire Gave Away All His Money in 1 Week.
Ever since Sam was a kid, he wanted to get rich. He wanted to donate more money to charity. So after graduating he started a crypto trading company and a tech startup that helps you trade. And in just 2 years, they grew to be worth $40 billion dollars.
But this week, 1 news article exposed Sam and sparked a crisis.
It said that his trading company owned billions of dollars of crypto created by his tech startup. So when word got out, everyone tried to withdraw their money. Until the startup ran out of money. Turns out Sam’s startup, FTX, lent $10 billion dollars of customer money to Sam’s trading company.
This was the lowest point in Sam’s life. But then it got worse.
Their biggest rival offered to bail out FTX, then changed their mind. FTX filed for bankruptcy. Sam went missing. And finally, hackers stole $600 million dollars of the remaining money in FTX accounts.
So not only did he give away all his customer’s money,
Sources:
[https://www.cnbc.com/2022/11/11/sam-bankman-frieds-cryptocurrency-exchange-ftx-files-for-bankruptcy.html](https://www.cnbc.com/2022/11/11/sam-bankman-frieds-cryptocurrency-exchange-ftx-files-for-bankruptcy.html)
[https://www.theguardian.com/technology/2022/nov/10/what-happened-to-ftx-and-could-crisis-spill-over-to-rest-of-crypto](https://www.theguardian.com/technology/2022/nov/10/what-happened-to-ftx-and-could-crisis-spill-over-to-rest-of-crypto)
[https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-mysterious-late-night-outflows-totalling-more-than-380m/](https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-mysterious-late-night-outflows-totalling-more-than-380m/)
[https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/](https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/)
[https://www.youtube.com/watch?v=pVlkFW43820&t=22s](https://www.youtube.com/watch?v=pVlkFW43820&t=22s)
