Democrat Megadonor And Cryptocurrency Exchange Founder Loses $15B In 1 Day, Tanking Crypto Markets

The founder of the largest cryptocurrency exchange in the world has seen his exchange implode financially in the past week, leading to chaos in leading cryptocurrency markets.
Sam Bankman-Fried, the founder of FTX, which was rated to be the third-best crypto exchange this year, had his $15 billion net worth go to $1 billion  in “the biggest one-day collapse” Bloomberg has “ever seen among billionaires.”
Bankman-Fried’s FTX filed for bankruptcy Friday after it was reported at least $1 billion of customer funds are missing from the exchange. FTX’s bankruptcy came alongside Fried stepping down as CEO.
Sources familiar with the company’s operations told Reuters Bankman-Fried secretly transferred $10bn of customer funds to his hedge fund, Alameda Research.
FTX Crypto Exchange logo by Mariia Shalabaieva is licensed under Unsplash