FTX founder Sam Bankman-Fried’s empire vanished overnight. His company was worth $32 Billion. But his crypto exchange and arbitrage service was highly leveraged, and as cryptocurrencies fell, crypto holders made a run on his exchange and all went bust.
People lost a lot of money.
And now investigators are finding that money is missing, as much as $10 Billion.
Sam funneled a lot of money to Democrats ($40 million in midterms?), so maybe he can buy his way out. But he can also afford to disappear, assuming he was smart enough to hide some of it.
From $32 billion to criminal investigations: How Sam Bankman-Fried’s empire vanished overnight
Sam Bankman-Fried oversaw FTX’s meltdown, and the fallout is reaching DC
