His misfortune is severe. The “FTX” platform’s founder, Sam Benkman Fried, lost one of the biggest cryptocurrencies in the world along with $15 billion of his wealth in a single day following the company’s announcement that it will file for bankruptcy.
Amid this difficult period, investors were shocked, stressing that the entire environmental encryption system became the brink of the abyss.
Particularly considering that Benkman was supporting the majority of the troubled encryption projects like Blockfi, Voyageer Digital, and Celsius, the company’s dramatic collapse, which has become more pronounced in recent days, has been an amazing collapse of what was thought to be one of the most stable coding companies in the world.
He also made an investment in Robin Houd Markets, which has led to rumours that he will take over the trading platform.
And last year, once his business grows to be as big as the FTX Curricula, you can eat up CME Group or Goldman Sachs Group.
However, according to three people who worked with FTX, its leadership, and the related trading entity Alaameda Research, this catastrophe is distinct from prior encryption failures.
They explained that the billionaire’s situation involved a two-step process.
They emphasised that this involves using their own funds as well as connecting sellers and buyers.
While pointing to the loss of investors as a result of it and losses of $ 150 million in many of the encrypted currency traders, it was revealed to an investor and two of Benkman’s executives that there had been manipulation in recent years.
It is noteworthy that Sam Benkman Fried was recently regarded as the financial industry’s encryption equivalent of John Pierpont Morgan, who founded the Wall Street titan and largest American bank “GB Morgan,” as some bet on their wealth and ability to save the sector. The encryption that experienced a string of failures one after another.
He did, however, lose about $ 15 billion in one day.
One of the biggest cryptocurrencies in the world, his platform “FTX,” announced on Friday that it would file for bankruptcy, with its CEO, Sam Bankman Fried, to be held accountable for the demise of one of the wealthiest and most powerful cryptocurrencies.
How did the Bitcoin King declare bankruptcy? .. Close to reveal
About Author
