CRYPTO CATASTROPHE: FTX files for bankruptcy, Bankman-Fried resigns
"So, right now, we're spending the week doing everything we can to raise liquidity. I can't make any promises about that. But I'm going to try. And give anything I have to if that will make it work."
This came after Binance, who briefly agreed to step in, bailed citing red flags that came up during the due diligence process. Bankman-Fried has seen his net worth drop from nearly $30 billion to about $15 billion, according to Bloomberg's Billionaires Index. 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.
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