As the FTX saga unfolds, reports emerge that its former CEO Sam Bankman-Fried together with a number of other bigwigs is on the run. but while that is still subject to confirmation here are three fun facts about him that are guaranteed
FTX former CEO Sam Bankman-Fried is in the limelight for all the wrong reasons.
Not only is he according to multiple reports together with his colleagues from FTX currently in the Bahamas where the local authorities confined them in Albany tower, a luxury hotel located in New Providence, but his company will also be subjected to an extensive investigation and scrutiny.
Just several days ago the Wall Street Journal indicated that the Security and Exchange Commission and the US Department of Justice are already investigating the FTX's collapse. Meanwhile, on Nov. 10 the Department of Financial Protection and Innovation in the state of California announced that it will commence an investigation concerning the “apparent failure” of the exchange.
In addition to that on Nov. 11 around 130 companies in the FTX Group, including FTX Trading, FTX US, and Alameda Research filed for bankruptcy.
But what is Bankman-Fried famous for -- other than the collapse of the FTX exchange?
Here are three fun facts.
Fact one: Bankman-Fried adores gaming
The young entrepreneur is allegedly an avid gamer. During several high-profile video calls, he appeared to be busy playing games while talking to partners -- a circumstance that he acknowledged in one of his tweets.
"I'm (in)famous for playing League of Legends while on phone calls," he tweeted in February 2021.
Explaining his love for gaming, Bankman-Fried said that this type of entertainment helps him to relax his mind, and he has a particular preference for League of Legends.
"Some people drink too much; some gamble. I play League," he said.
His hobby appears to not have put off investors The group proceeded to invest $210m in Bankman-Fried's company FTX.
Fact two: Sleeping on a beanbag
Some people like king-size beds. Some adore expensive feathers. But Sam Bankman-Fried belongs to a different group of people. He likes beanbags and makes no secret of that.
"Mostly I sleep on a beanbag," Bankman-Fried told his Twitter followers once and even shared a pic.
It is unclear however whether there is a beanbag in the Bahamas where he is reportedly under supervision.
Fact three: Elon Musk didn't trust him
Elon Musk is a huge crypto figure not least because he time and again supports Dogecoin, giving it occasional price boosts.
However, the SpaceX CEO never really thought highly of Bankman-Fried who allegedly offered him at least three billion dollars to help by Twitter. He also wanted to talk about the potential for social media blogs and integration.
Commenting on these endeavors, Musk said, "does Sam actually have $3B liquid?"
Looks like the South African entrepreneur was right – he doesn’t. And he made sure to remind the public about this, tweeting on Nov.12: "Accurate. He set off my bs detector, which is why I did not think he had $3B."
GNcrypto extensively covered the timeline of the FTX collapse and the role of Binance in it. Click on the link to read the full report.
In response to the crisis, several major companies assured the crypto community that their funds are in safe hands.
What are some interesting facts about FTX CEO Sam Bankman-Fried?
Sam Bankman-Fried, the CEO of FTX, is a prominent figure in the cryptocurrency world for a number of reasons. First, he is a graduate of the Massachusetts Institute of Technology, where he studied physics and mathematics. Sam is known for his altruistic approach to business, often stating that he aims to give away most of his wealth to effective charities. In addition to founding FTX, he also launched the quantitative trading firm Alameda Research. Despite being a billionaire, he is known for his frugal lifestyle, often opting for modest accommodations and driving a Toyota Corolla. Sam is also a vocal advocate for effective altruism, emphasizing that his goal is to make a significant impact on the world through his financial success.
