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FTX Trading Ltd., trading as FTX (Futures Exchange), [5] is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. [6] [7] The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and collapsed in 2022 after massive fraud perpetrated by Bankman-Fried and his partner Caroline Ellison forced the company to file for Chapter 11 bankruptcy.
Samuel Benjamin Bankman-Fried [2] (born March 5, 1992), commonly known as SBF, [3] is an American entrepreneur who was convicted of fraud and related crimes in November 2023. . Bankman-Fried founded the FTX cryptocurrency exchange and was celebrated as a "poster boy" for crypto, [4] with FTX having a global reach with more than 130 international affiliates.
Another Digital Currency Group subsidiary, Grayscale, saw the value of its flagship offering, the publicly traded Grayscale Bitcoin Trust, decline by 20% over the two weeks preceding 17 November. [100] Grayscale Bitcoin Trust was trading at a discounted price, 42% below the value of its Bitcoin, as of 14 November. [101]
The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. The exchange, formerly one of the world's largest, sought ...
Sam Bankman-Fried, the founder of FTX, was sentenced in March to 25 years in prison for stealing $8 billion from customers FTX ordered to pay $12.7 billion in massive crypto fraud case Skip to ...
Sam Bankman-Fried, now 29, is a billionaire 16 times over, according to a recent Forbes estimate. But can he make FTX, his risky crypto business, work?
Gary Wang (born c. 1993) [1] is an American computer programmer who co-founded the crypto currency exchange FTX with Sam Bankman-Fried.At the height of his success in 2022, Wang was ranked the 227th richest American in the Forbes 400, and the 431st richest person in the world by The World's Billionaires. [3]
The man who presided over the largest crypto collapse in history faces the start of a trial that will help determine whether he spends the rest of his life in prison.