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▶ The FTX Story – What You Should Know About Sam Bankman-Fried

by Nathan · Published November 24, 2022 · Updated November 30, 2022

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The FTX Story – What You Should Know About Sam Bankman-Fried

As common with every exposed fraud, much information has surfaced lately about Sam Bankman-Fried after FTX filed for bankruptcy.

We have gathered in this short article what we have learned about Sam Bankman-Fried.

Here are the things we know.

1. Sam Bankman-Fried’s parents own a $16.4 million vacation home in the Bahamas.

And FTX purchased at least $121 million in luxury real estate for executives and employees, including 7 condos in the Albany resort.

By the way, SBF’s parents are both professors at Stanford.

They’re successful, but it’s hard to imagine they didn’t get help from their former billionaire son to afford a $16.4 million home.

But did FTX deposits pay for that home?

2. Who did the due diligence for all these investors who put millions into FTX?

According to Blockworks, Bain & Co received over $100 million per year to research private companies for Tiger Global. One of those companies was FTX. Tiger invested $38 million into FTX.

3. FTX Token (FTT). The FTX Token (FTT) is not even close to dead.

Its market cap is still over $400 million. And it’s trading at about the same levels as when it launched in 2019.

4. Alameda Research. Alameda Research lost $3.7 billion from its inception through 2021.

Despite a raging crypto bull market in 2020-21, Alameda still managed to lose a staggering amount of money.

This completely shatters the illusion of SBF the genius that every news outlet pushed last year.

5. The phishing scams taking advantage of FTX victims have ramped up. Take a look at this one: