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Sam Bankman-Fried says he only has $100,000 left in his bank account after FTX collapse: report
Added 11-29-22 08:14:03pm EST - “The former cryptocurrency exchange CEO once had a net worth of $26 billion. But after the collapse of FTX, he's lost almost everything, he told Axios” - Businessinsider.com
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Posted By TheNewsCommenter: From Businessinsider.com: “Sam Bankman-Fried says he only has $100,000 left in his bank account after FTX collapse: report”. Below is an excerpt from the article.
Sam Bankman-Fried, the former cryptocurrency exchange CEO who once had a new worth of $26 billion, is down to his last $100,000 after the implosion of FTX, he told Axios this week.
The investor took a massive hit in early November when the bulk of his net worth dropped from $15.6 billion to $1 billion in a single day following news that FTX needed a bailout.
Bankman-Fried told Axios on Monday that he had "no idea" what the state of his personal finances was after the collapse.
"Am I allowed to say a negative number?" he told the outlet. "I mean, I have no idea. I don't know. I had $100,000 in my bank account last I checked."
Bankman-Fried said "everything" he had was tied up in the now-failed company, making his financial situation "complicated."
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