Crypto Billionaire Bankman-Fried Loses Entire Fortune in One Day

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The Street

By Luc Olinga The 30-year-old billionaire was forced to sell his crypto firm empire on Nov. 8 to a major rival due to a cash crisis. This day of Nov. 8, Sam Bankman-Fried will never forget it. The young 30-year-old billionaire was just before that day considered the tutelary figure of the crypto sphere. A sort of godfather to turn to when things go wrong. He owed this image to his tour de force during the summer to bail out and save crypto firms struggling due to a credit crunch caused by the sudden collapse of the cryptocurrencies Luna and UST or TerraUSD, two tokens issued by the Terraform L…

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