HOW THE MIGHTY FALL: FTX founder Sam Bankman-Fried: What to know about the ex-crypto exec
'The Wolf of Wall Street' Jordan Belfort joined 'Maria Bartiromo's Wall Street' to discuss the fallout from the collapse of FTX and scrutiny facing A-list celebrities and the SEC chair.
Former FTX CEO Sam Bankman-Fried was one of the wealthiest people in the crypto industry before his empire collapsed. The downfall of the $32 billion trading platform is the largest-ever failure of aThe once-dominant player in the world of virtual currency left customers and investors scrambling when Bankman-Fried and his companyBankman-Fried co-founded the FTX trading platform in May 2019 with Zixiao "Gary" Wang.
Bankman-Fried grew up in Hillsborough, California. As a high school student, he attended the Canada/USA Mathcamp, a summer program for mathematically gifted students. Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, on Aug. 17, 2022.Bankman-Fried went on to attend college at the Massachusetts Institute of Technology and graduated with a degree in physics and a minor in mathematics. In the summer of 2013, he interned for Jane Street Capital, a New York-based proprietary trading firm.
Mac Aulay tweeted last week, "In April 2018, I and a group of others all quit, in part due to concerns over risk management and business ethics."Bankman-Fried, along with friends at Alameda, moved as much as $25 million in bitcoin each day, according to New York Magazine.This illustration photo shows a smartphone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing the FTX website in the background in Arlington, Virginia on Feb. 10, 2022.
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