Bloomberg Tax
Nov. 9, 2022, 2:49 PM

Sam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in Days (1)

Tom Maloney
Tom Maloney
Bloomberg News

Just weeks ago, Sam Bankman-Fried was considered crypto’s version of John Pierpont Morgan, willing to throw around his massive fortune to save the industry.

The curly-haired 30-year-old known as SBF was everywhere, backing flailing projects including BlockFi, Voyager Digital and Celsius. From the Bahamas, he invested in Robinhood Markets Inc., raising speculation that he’d take over the trading app. And why not? Just last year he said that once his FTX was big enough, it could swallow CME Group Inc. or Goldman Sachs Group Inc.

And he looked poised to leverage his fortune — $26 billion at its peak — ...