The California native known as SBF never cared for school and was a billionaire in his twenties. But who is the man behind the headlines? Here are some details to know:
Sam Bankman-Fried, or SBF as he’s known, has been in the news because of the liquidity crisis his now-bankrupt FTX crypto exchange faced and the billions of dollars he suddenly lost.
As the 30-year-old entrepreneur tweeted a month ago when the news first broke of FTX’s troubles: “I f—ked up, and should have done better.”Also see: The $26 billion rise and fall of FTX crypto king Sam Bankman-FriedHe’s a California native who came of age in a scholarly environment SBF was born and raised in the Golden State, according to a 2021 Yahoo! News profile. He grew up in an academic setting, with parents who were law professors at Stanford University.
He did land at a top college SBF went to MIT from 2010 to 2014, majoring in physics and minoring in math. But he still found the experience unfulfilling.
What was one of his big, early trading moves? SBF found a way to take advantage of the spread between American and Japanese bitcoin prices . As New York Magazine explained, he “cobbled together a chain of intermediaries, including obscure banks in rural Japan, to take advantage of the monthlong price discrepancy. They moved up to $25 million a day.” SBF called it “the craziest trade I’ve ever seen.
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Exclusive Transcript: The Full Testimony SBF Planned To Give To CongressBefore he was arrested, Forbes obtained a draft of Bankman-Fried's full testimony and is publishing it here, verbatim
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Exclusive Transcript: The Full Testimony SBF Planned To Give To CongressBefore he was arrested, Forbes obtained a draft of Bankman-Fried's full testimony and is publishing it here, verbatim
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CFTC Slaps FTX’s SBF with Fraud ChargesThe CFTC has followed the Justice Department and the SEC by filing fraud charges against former FTX CEO Sam Bankman-Fried
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SBF 'didn't like' decentralized Bitcoin — ARK Invest CEO Cathie WoodBitcoin is too “decentralized and transparent” for former Sam Bankman-Fried, says Cathie Wood.
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SBF misses the Senate hearing but promises to testify to the House: Law DecodedThis week Sam Bankman-Fried is willing to testify before Congress, while the Department of Justice and Federal Election Commission might be after him as well.
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It's stacking up: SEC to file separate charges against FTX's SBFAccording to unconfirmed sources, SBF will also soon be fighting United States Securities and Exchange Commission (SEC) charges relating to securities fraud and securities fraud conspiracy.
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