Disgraced 'crypto king' jailed for 25 years after stealing billions of dollars from his customers

HAYSIE

Before his epic fall, Sam Bankman-Fried was hailed as a crypto genius. Some clients saw smoke and mirrors.
Three people who did business with Bankman-Fried and his companies in recent years told NBC News that they lost money in what they contend were manipulative trading activities.



Until a few days ago, Sam Bankman-Fried was the king of crypto.

A 30-year-old MIT graduate with a net worth of $16 billion, according to Forbes, Bankman-Fried ran a top crypto exchange called FTX, counted NFL legend Tom Brady and NBA superstar Stephen Curry as company ambassadors, emblazoned FTX’s name on the Miami Heat arena and donated millions of dollars to lawmakers, mostly Democrats. He regularly wowed much of the financial press. “The Next Warren Buffett?” Fortune Magazine asked on a recent cover.

Now, his Bahamas-based empire is scorched, investors are shellshocked and the entire crypto ecosystem is on edge. FTX and an array of related entities filed for bankruptcy protection on Friday morning, Bankman-Fried resigned and a new CEO has been installed to oversee a process to “maximize recoveries for stakeholders.”

https://www.nbcnews.com/news/epic-fall-sam-bankman-fried-was-hailed-crypto-genius-clients-saw-smoke-rcna56583




‘It all fell apart’: How a ‘crypto saviour’ lost $16bn in just one day




https://www.msn.com/en-us/money/markets/sam-bankman-fried-the-e2-80-98crypto-saviour-e2-80-99-who-lost-2416bn-in-one-day/ar-AA13YNTb



Texts reveal 'bankrupt' crypto billionaire Sam Bankman-Fried tried to get in on Elon Musk's Twitter deal - claimed he had up to $5billion in liquid assets to help buy social media giant



Bankman-Fried, 30, who touted last year that his company would be big enough to buy Goldman Sachs, saw the biggest one-day collapse of wealth ever among billionaires.

https://www.dailymail.co.uk/news/article-11419575/Sam-Bankman-Fried-tried-Elon-Musks-Twitter-deal-according-texts-banker.html

HAYSIE

Inside the very millennial life of 'bankrupt' FTX founder Sam Bankman-Fried: Tee-total, vegan gamer claims to sleep four hours a night on a BEANBAG in his Bahamas penthouse that's also his office (which he shares with nine college pals)



For a one-time crypto billionaire who rubs shoulders with A-listers from Tom Brady and Gisele Bundchen to Bill Clinton and Tony Blair, departing FTX chief Sam Bankman-Fried leads an unassuming lifestyle. Some might even say boring. The 30-year-old, nicknamed SBF, is a tee-total vegan who sleeps four hours a night, drives a Toyota Corolla and shuns designer clothes for scruffy loungewear. It's likely that the only luxury he'll need to give up following the collapse of FTX is his exclusive penthouse in the tax-haven of the Bahamas, which he shares with several of his acolytes. Bankman-Fried lives in the apartment-****-office with nine of his staff, including his rumored lover, 28-year-old Stanford grad Caroline Ellison. Movie buffs will recognize the coastline around the multi-million dollar bolthole as the paradisiacal beach where Daniel Craig emerged from the ocean as James Bond in Casino Royal. While contemporaries like Elon Musk and Jeff Bezos frolic on yachts or dine at the world's finest restaurants, Bankman-Fried spends his (very limited) free time playing League of Legends, an online fantasy game. The rest of the time, he's working, studying charts on the six computer screens overlooking a workstation that wouldn't be out of place on a space shuttle.


https://www.dailymail.co.uk/news/article-11417455/Failed-FTX-founder-Sam-Bankman-Fried-tee-total-vegan-gamer-sleeps-four-hours-night.html

VespaPX

https://www.coindesk.com/policy/2022/03/14/ukraine-partners-with-ftx-everstake-to-launch-new-crypto-donation-website/

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Suprise suprise
WEF have since deleted this page.

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https://www.zerohedge.com/markets/ftx-held-just-900mm-liquid-assets-vs-9bn-liabilities-video-emerges-confirming-alameda-knew

HAYSIE

VespaPX

Some shady stuff going on in the Crypto world at the moment.



This was his last tweet:

VespaPX

There we go

https://twitter.com/disclosetv/status/1590776124044627973?cxt=HHwWisDS7ZudyZMsAAAA

VespaPX

SBF didn't kill himself.......

HAYSIE

FBI is planning to EXTRADITE Sam Bankman-Freid from Bahamas - as crypto contagion from FTX collapse spreads to $20BN BlockFi that is preparing for bankruptcy



FTX owner Sam Bankman-Freid, 30, may be brought back to the states by authorities. Bankman Fried was worth an estimate $16 billion before the crisis but his fortune is down 94%.

https://www.dailymail.co.uk/news/article-11433541/FBI-planning-extradite-SBF-crypto-contagion-FTX-collapse-spreads-20BN-BlockFi.html

HAYSIE

US lawsuit launched against FTX founder and celebrity backers



https://www.msn.com/en-gb/money/companies/us-lawsuit-launched-against-ftx-founder-and-celebrity-backers/ar-AA14brx8?ocid=msedgntp&cvid=e86ef425652e441db2902fdd0ab10659

HAYSIE

The man who lost £27billion in a week! He's the Bitcoin whizz-kid feted by celebrities and politicians. But now his empire's crashed, along with his investors' savings - and may take the whole cryptocurrency economy down with it, writes TOM LEONARD



TOM LEONARD: The catastrophic unravelling of FTX, a cryptocurrency business founded three years ago by Bankman-Fried that went from being valued at $32 billion to virtually nothing in just a few days, is a business tragedy for the ages. And it's certainly one for this particular age, involving as it does the deeply shady world of cryptocurrencies, a woke bunch of bed-hopping, digital whizz-kids holed up in luxury in a Caribbean tax haven, and an endless parade of grasping A-list dupes who fell for their hype.



https://www.dailymail.co.uk/news/article-11436693/The-man-lost-27bn-week-cryptocurrency-writes-TOM-LEONARD.html

HAYSIE

Disgraced 'Crypto King' Sam Bankman-Fried appears to blame his EX-GIRLFRIEND for FTX collapse - as he admits he lied about being ethical and calls ethics a 'dumb game we woke Westerners play'



Sam Bankman-Fried opened up in an interview about his mistakes with FTX and blamed his ex-girlfriend for his downfall. Bankman-Fried, 30, is still in the Bahamas following his company's $32 billion loss, but openly spoke with Vox reporter Kelsey Piper through Twitter's direct message feature on Tuesday about his current circumstances with little remorse. The FTX owner told Piper that his ex-girlfriend Caroline Ellison's company Alameda was responsible for gambling and losing his company's money - to which he was 'oblivious' until it was too late. 'FTX technically wasn't gambling with their money, FTX had just loaned their money to Alameda, who had gambled with their money, and lost it?' Piper asked. 'And you didn't realize it was a big deal because you didn't realize how much money it was?' Bankman-Fried responded: 'And also thought Alameda had enough collateral to [reasonably] cover it.' 'It was never the intention,' he later added. Sometimes life creeps up on you.'



https://www.dailymail.co.uk/news/article-11437361/Sam-Bankman-Fried-admits-lied-ethical.html

VespaPX

https://www.nytimes.com/events/dealbook-summit#sessions

HAYSIE

VespaPX

The fix is in....

HAYSIE

Sam Bankman-Fried: FTX founder arrested in Bahamas


https://www.bbc.co.uk/news/business-63953096