Sam Bankman-Fried was worth tens of millions of euros, at least on paper. The “relaxed genius” who lured celebrities from sports and politics to conferences at luxury “resorts” in the Bahamas, the Caribbean island where FTX, a cryptocurrency platform that went bankrupt on November 11, is headquartered. About two million investors, including the Portuguese, fell into one of the “largest frauds in US history.”
FTX, a cryptocurrency exchange founded in 2019, filed for bankruptcy in November after three years of rapid growth. The company, founded by Sam Bankman-Fried and Zixiao Wang, can be seen in front of the Mercedes competing in Formula 1, named the wing of the NBA Miami Heat team and sponsored a virtual sports (eSports) team. The company has established its credibility by attracting well-known investors, such as the “bad guy” from the US version of the TV show “Shark Tank” David O’Leary, who has already been heard by a US Senate investigative committee, invest in companies that are experiencing difficulties with the “crypto winter” and the reasons Supported social.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
