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== Personal life ==
== Personal life ==
Bankman-Fried is [[Veganism|vegan]].<ref name=":52"/> He lives in a penthouse in [[the Bahamas]] with about 10 roommates.<ref name=":32" /><ref>{{Cite web |title=A 30-Year-Old Crypto Billionaire Wants to Give His Fortune Away |url=https://www.bloomberg.com/news/features/2022-04-03/sam-bankman-fried-ftx-s-crypto-billionaire-who-wants-to-give-his-fortune-away |website=Bloomberg}}</ref> He has a love for the video game ''[[League of Legends]]'', and allegedly played the game while on a call attempting to secure an investment from [[Sequoia Capital]].<ref>{{cite news |last1=Gach |first1=Sam |title=Crypto's Biggest Crash Saw Guy Playing League Of Legends While Luring Investors [Update] |url=https://kotaku.com/ftx-crypto-scam-gamestop-token-league-legends-sbf-nft-1849767748 |access-date=12 November 2022 |work=Kotaku |date=10 November 2022 |language=en}}</ref><ref>{{Cite web |title=Exclusive: 30-year-old billionaire Sam Bankman-Fried has been called the next Warren Buffett. His counterintuitive investment strategy will either build him an empire—or end in disaster |url=https://fortune.com/2022/08/01/ftx-crypto-sam-bankman-fried-interview/ |access-date=2022-11-10 |website=Fortune |language=en}}</ref> An investigation by the ''[[Financial Times]]'' characterized Bankman-Fried's "win ratios" in ''[[League of Legends]]'' as "average-to-bad".<ref>{{cite news |last1=Ashworth |first1=Louis |title=Sam Bankman-Fried is not very good at League of Legends |url=https://www.ft.com/content/23ab2258-ce03-4fbb-a9b2-7d9ec6e3d7f0 |access-date=12 November 2022 |work=Financial Times |date=11 November 2022}}</ref> FTX has invested in the [[esports]] organization [[Team SoloMid|TSM]], which included the changing of TSM's name to TSM FTX.
Bankman-Fried is [[Veganism|vegan]].<ref name=":52"/> He lives in a penthouse in [[the Bahamas]] with about 10 roommates.<ref name=":32" /><ref>{{Cite web |title=A 30-Year-Old Crypto Billionaire Wants to Give His Fortune Away |url=https://www.bloomberg.com/news/features/2022-04-03/sam-bankman-fried-ftx-s-crypto-billionaire-who-wants-to-give-his-fortune-away |website=Bloomberg}}</ref> He has a love for the video game ''[[League of Legends]]'', and allegedly played the game while on a call attempting to secure an investment from [[Sequoia Capital]].<ref>{{cite news |last1=Gach |first1=Sam |title=Crypto's Biggest Crash Saw Guy Playing League Of Legends While Luring Investors [Update] |url=https://kotaku.com/ftx-crypto-scam-gamestop-token-league-legends-sbf-nft-1849767748 |access-date=12 November 2022 |work=Kotaku |date=10 November 2022 |language=en}}</ref><ref>{{Cite web |title=Exclusive: 30-year-old billionaire Sam Bankman-Fried has been called the next Warren Buffett. His counterintuitive investment strategy will either build him an empire—or end in disaster |url=https://fortune.com/2022/08/01/ftx-crypto-sam-bankman-fried-interview/ |access-date=2022-11-10 |website=Fortune |language=en}}</ref> An investigation by the ''[[Financial Times]]'' characterized Bankman-Fried's "win ratios" in ''[[League of Legends]]'' as "average-to-bad".<ref>{{cite news |last1=Ashworth |first1=Louis |title=Sam Bankman-Fried is not very good at League of Legends |url=https://www.ft.com/content/23ab2258-ce03-4fbb-a9b2-7d9ec6e3d7f0 |access-date=12 November 2022 |work=Financial Times |date=11 November 2022}}</ref>


==References==
==References==

Revision as of 17:27, 12 November 2022

Sam Bankman-Fried
Sam Bankman-Fried pictured from the shoulders up
Bankman-Fried in 2021
Born (1992-03-06) March 6, 1992 (age 32)
Stanford, California, U.S.
EducationMassachusetts Institute of Technology (BS)
OccupationEntrepreneur
Known forCEO of FTX
Parents
RelativesLinda P. Fried (aunt)

Samuel Bankman-Fried[1] (born March 6, 1992[2]), also known by his initials SBF,[3] is an American entrepreneur and investor. He is the founder and former CEO of FTX, a cryptocurrency exchange;[4][5] FTX.US, its U.S. affiliate;[6] and Alameda Research, a quantitative cryptocurrency trading firm. FTX experienced a solvency crisis in late 2022, which led to a collapse in FTX's native cryptocurrency, FTT. Amid the crisis, Bankman-Fried announced he would wind down operations at Alameda Research and resigned as CEO of FTX, which filed for Chapter 11 bankruptcy.[7][8]

Bankman-Fried's net worth peaked at $26 billion.[9] In October 2022, he had an estimated net worth of $10.5 billion.[10] However, on 8 November 2022 amid FTX's solvency crisis, his net worth was estimated to have dropped 94% in a day to $991.5 million, according to the Bloomberg Billionaires Index, the largest one-day drop in the index's history.[11][8] By 11 November 2022, the Bloomberg Billionaires Index considered Bankman-Fried to have no material wealth.[12] Before Bankman-Fried's wealth eroded in November 2022, Bankman-Fried was a major donor to the Democratic Party and many left-wing political causes.[13][14]

Early life and education

Bankman-Fried was born in 1992 on the campus of Stanford University into a family of academics. Born and raised to an upper-middle-class Jewish family in California, he is the son of Barbara Fried and Joseph Bankman, both professors at Stanford Law School.[2] His aunt Linda P. Fried is the current dean of Columbia University Mailman School of Public Health.[15] His brother, Gabe Bankman-Fried, is a former Wall Street trader[16] and the director of the non-profit Guarding Against Pandemics.[17][18][19] He attended Canada/USA Mathcamp, a summer program for mathematically talented high-school students.[2] He attended high school at Crystal Springs Uplands School in Hillsborough.[20]

From 2010 to 2014, Bankman-Fried attended the Massachusetts Institute of Technology.[2] There, he lived in a coeducational group house called Epsilon Theta.[2] In 2014, he graduated with a degree in physics and a minor in mathematics.[2][21][22]

Career

In the summer of 2013, Bankman-Fried began working at Jane Street Capital, a proprietary trading firm,[2] trading international ETFs.[23] Initially an intern, he returned there full-time after graduating.[2]

In September 2017, Bankman-Fried quit Jane Street and moved to Berkeley, where he worked briefly at the Centre for Effective Altruism as director of development from October to November 2017.[2][24] In November 2017, he founded Alameda Research, a quantitative trading firm.[2] As of 2021, Bankman-Fried owned approximately 90% of Alameda Research.[2] In January 2018, Bankman-Fried organized an arbitrage trade, moving up to $25M per day, to take advantage of the higher price of bitcoin in Japan compared to in America.[2][24] After attending a late 2018 cryptocurrency conference in Macau, he moved to Hong Kong.[2][25] He founded FTX, a cryptocurrency derivatives exchange, in April 2019, and it then launched the following month.[2]

On December 8, 2021, Bankman-Fried, along with other industry executives, testified before the Committee on Financial Services in relation to regulating the cryptocurrency industry.[26][27]

On May 12, 2022, it was revealed that Emergent Fidelity Technologies Ltd., which is majority owned by Bankman-Fried, had bought 7.6% of Robinhood Markets Inc. stock.[28][29]

In September 2022, it was revealed that Bankman-Fried had offered Elon Musk billions of dollars to fund his purchase of Twitter.[30] According to messages released as part of the lawsuit between Twitter and Musk during the latter's proposed acquisition of Twitter, on April 25, 2022, investment banker Michael Grimes wrote that Bankman-Fried would be willing to commit up to $5 billion.[31]

Bankman-Fried invested more than $500 million into venture capital firms, including $200 million into Sequoia Capital.[32] Sequoia published a glowing profile of Bankman-Fried which it subsequently removed after the solvency crisis at FTX.[33][34]

Bankman-Fried has stated he is a supporter of effective altruism and says that he is pursuing earning to give as an altruistic career.[35][36] He is a member of Giving What We Can and has said that he plans to donate the great majority of his wealth to effective charities over the course of his life.[4] He founded the FTX Future Fund for this purpose, which included William MacAskill, one of the founders of the effective altruism movement. After the collapse of FTX, the entire team resigned.[37][38]

Solvency crisis at FTX

In November 2022, Binance CEO Changpeng Zhao revealed on Twitter that his firm intended to sell its holdings of FTT, FTX's token.[39] Binance received FTT as part of a sale of its equity in FTX in 2021.[40] Zhao published his tweet soon after a report from CoinDesk stating that the bulk of the holdings of Alameda, Bankman-Fried's quantitative trading firm, were in FTT.[40] Bloomberg and TechCrunch reported that any sale by Binance would likely have an outsize impact on FTT's price due to the token's low trading volume.[41][42] The announcement by Zhao of the pending sale and disputes between Zhao and Bankman-Fried on Twitter led to a decline in the price of FTT and other cryptocurrencies.[43] Zhao had been critical of Bankman-Fried's lobbying efforts.[44]

On November 8, Zhao announced that Binance had entered into a non-binding agreement to purchase FTX due to a liquidity crisis at FTX.[45][46] Zhao further announced on Twitter that the company would complete due diligence soon, adding that all crypto exchanges should avoid using tokens as collateral.[47][48] He also wrote that he expected FTT to be "highly volatile in the coming days as things develop". On the day of the announcement, FTT lost 80 percent of its value.[49] On 9 November, the Wall Street Journal reported that Binance was walking away from the FTX acquisition.[50] Binance cited reports of FTX's mishandling of customer funds and pending investigations of FTX as the reasons the firm would not pursue the deal.[51] Amid the crisis, Bankman-Fried was no longer a billionaire, according to the Bloomberg Billionaires Index.[11] The same day, the FTT token's price fell more than 80 percent in 24 hours.[52]

Also on 9 November, Bloomberg reported that the Securities and Exchange Commission and Commodity Futures Trading Commission were investigating FTX and the nature of its connections to Bankman-Fried's other holdings.[53]

Anonymous sources cited by Reuters stated that Bankman-Fried had transferred at least $4 billion from FTX to Alameda Research, without any disclosure to insiders or the public, earlier in 2022. The sources said that the money transferred had included customer funds, and that it was backed by FTT and shares in Robinhood.[54][55] An anonymous source cited by the Wall Street Journal stated that Bankman-Fried had disclosed that Alameda owed FTX about $10 billion which were secured through customer funds stored in FTX when FTX had, at the time, $16 billion in customer assets.[56] The Chief Executive of Alameda Research Caroline Ellison told employees that Bankman-Fried was aware that FTX had lent its customers’ money to Alameda to help it meet its liabilities.[57]

Bankman-Fried resigned as CEO of FTX and was replaced by John J. Ray III, the same day FTX and related entities filed for bankruptcy in Delaware.[58]

Politics

Bankman-Fried was the second-largest individual donor to Democratic causes in 2021–2022 election cycle with total donations of $39.8 million, only behind George Soros.[59][60][61] Of this, $27 million was given to Protect our Future PAC, bankrolled by Bankman-Fried.[62]

Bankman-Fried said in February 2022 that his political contributions were not aimed at influencing his policy goals for the cryptocurrency ecosystem; however, FTX was circulating a list of suggestions to policymakers at the time.[63] He said in an interview that he would prefer the Commodity Futures Trading Commission take a larger role in regulating and guiding the crypto industry.[63] The CFTC has a reputation for favoring relatively relaxed regulations for the industry, when contrasted with other regulators like the Securities and Exchange Commission.[64]

Bankman-Fried pushed for regulations via Digital Commodities Consumer Protection Act (DCCPA) by extensively lobbying Congress, which was perceived as being favorable to FTX but harmful to the broader industry, especially its decentralized finance competitors.[65][66][67]

Bankman-Fried made few political donations as a student, the exception being a $1,000 contribution to Michael Bennet at the age of eighteen.[63] In the 2020 election cycle, he contributed $5.2 million to two super PACs that supported the Biden campaign.[63] He was the second-largest individual donor to Joe Biden in the 2020 election cycle, personally donating $5.2 million,[68] second to only Michael Bloomberg.[35][69]

Contributions for June 2021 through February 2022 went to members of both parties. They included direct donations to the Republican campaigns of senators Susan Collins of Maine, Mitt Romney of Utah, Lisa Murkowski of Alaska, and Ben Sasse of Nebraska.[63]

Contributions for the year 2022, through August 15, 2022, also went to members of both parties, with $105,000 donated to conservatives, and $35,872,000 donated to liberals, a ratio of 1:341 in favor of liberal candidates.[70]

In 2022, Bankman-Fried provided initial financial support for Protect Our Future PAC. Protect Our Future was launched as a Democratic political action committee with $10 million in initial funding aiming to support "lawmakers who play the long game on policymaking in areas like pandemic preparedness and planning", according to Politico.[71]

Personal life

Bankman-Fried is vegan.[25] He lives in a penthouse in the Bahamas with about 10 roommates.[22][72] He has a love for the video game League of Legends, and allegedly played the game while on a call attempting to secure an investment from Sequoia Capital.[73][74] An investigation by the Financial Times characterized Bankman-Fried's "win ratios" in League of Legends as "average-to-bad".[75]

References

  1. ^ "December 8, 2021, "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States"" (PDF). financialservices.house.gov. December 3, 2021. Archived (PDF) from the original on December 7, 2021. Retrieved December 27, 2021.
  2. ^ a b c d e f g h i j k l m n Parloff, Roger (August 12, 2021). "Portrait of a 29-year-old billionaire: Can Sam Bankman-Fried make his risky crypto business work?". Yahoo!Finance. Retrieved September 6, 2021.{{cite web}}: CS1 maint: url-status (link)
  3. ^ Turner, Matt; Rosen, Phil; Erb, Jordan Parker (December 19, 2021). "Sam Bankman-Fried went from relative obscurity to crypto billionaire in just 4 years. Insiders explain how he did it, and what's next". Business Insider. Retrieved December 27, 2021.{{cite web}}: CS1 maint: url-status (link)
  4. ^ a b Schleifer, Theodore (March 20, 2021). "How a crypto billionaire decided to become one of Biden's biggest donors". Vox.
  5. ^ Wallace, Benjamin (February 2, 2021). "The Mysterious Cryptocurrency Magnate Who Became One of Biden's Biggest Donors". Intelligencer.
  6. ^ "Crypto Exchange Competition Heats Up With FTX.US Growth Spurt". Bloomberg.com. July 29, 2021. Retrieved July 11, 2022.
  7. ^ Singh, Manish (November 10, 2022). "Sam Bankman-Fried says FTX in talks to raise capital, Alameda Research to wind down trading". TechCrunch. Retrieved November 10, 2022.
  8. ^ a b Morrow, Allison (November 10, 2022). "Crypto is in chaos as FTX teeters on the verge of bankruptcy". CNN. Retrieved November 11, 2022.
  9. ^ "Sam Bankman-Fried's $16 Billion Fortune Is Eviscerated in Days". Bloomberg News. November 8, 2022.
  10. ^ Kulish, Nicholas (October 8, 2022). "How a Scottish Moral Philosopher Got Elon Musk's Number". The New York Times. ISSN 0362-4331. Retrieved October 9, 2022.
  11. ^ a b "Crypto's golden boy Sam Bankman-Fried sees $14.6 billion wiped from his personal wealth overnight after agreeing FTX bailout deal". Fortune. Retrieved November 9, 2022.
  12. ^ "Bankman-Fried's 'Effective Altruism' Implodes With His Fortunes". Bloomberg News. Retrieved November 11, 2022.
  13. ^ Catenacci, Thomas; Schoffstall, Joe. "Troubled crypto boss Sam Bankman-Fried, who lost $15B in a week, funneled millions to Dems, far-left causes". www.foxnews.com. Fox News. Retrieved November 11, 2022.
  14. ^ "A young crypto billionaire's political agenda goes well beyond pandemic preparedness". Los Angeles Times. August 12, 2022. Retrieved November 12, 2022.
  15. ^ "Paid Notice: Deaths BLOCK, ADRIENNE FRIED". query.nytimes.com. Retrieved November 9, 2022.
  16. ^ Facebook; Twitter; options, Show more sharing; Facebook; Twitter; LinkedIn; Email; URLCopied!, Copy Link; Print (April 25, 2022). "Tech titans want the richest Californians to pay for pandemic preparedness". Los Angeles Times. Retrieved November 12, 2022. {{cite web}}: |last= has generic name (help)
  17. ^ Metzger, Bryan. "A crypto-funded super PAC poured more than $24 million into this year's Democratic primaries and became a top outside spender. Now, it's going dark". Business Insider. Retrieved November 11, 2022.
  18. ^ "Brothers behind Democrats' 'crypto PAC' say they're actually pandemic-focused". NBC News. Retrieved November 11, 2022.
  19. ^ Deutch, Gabby (July 28, 2021). "The young crypto billionaire who wants to change political fundraising". Jewish Insider. Retrieved November 11, 2022.
  20. ^ Fisher, Adam. "Sam Bankman-Fried Has a Savior Complex—And Maybe You Should Too". Sequoia Capital. Archived from the original on November 10, 2022. Retrieved November 10, 2022.
  21. ^ "The Team". Alameda Research. Retrieved April 19, 2021.
  22. ^ a b Chan, Michelle (June 25, 2021). "Hong Kong's 29-year-old crypto billionaire: FTX's Sam Bankman-Fried". Nikkei Asia. Retrieved September 6, 2021.{{cite web}}: CS1 maint: url-status (link)
  23. ^ "The Ex-Trader Building a Multi-Billion Crypto Empire (Podcast)". Bloomberg. March 31, 2021. Retrieved October 1, 2021.{{cite web}}: CS1 maint: url-status (link)
  24. ^ a b Wallace, Benjamin (February 2, 2021). "The Mysterious Cryptocurrency Magnate Who Became One of Biden's Biggest Donors". Intelligencer. Retrieved September 6, 2021.
  25. ^ a b Lipton, Eric; Livni, Ephrat (August 19, 2021). "Crypto Nomads: Surfing the World for Risk and Profit". The New York Times. ISSN 0362-4331. Retrieved September 6, 2021.
  26. ^ Livni, Ephrat (December 8, 2021). "Congress gets a crash course on cryptocurrency". The New York Times. Retrieved December 25, 2021.
  27. ^ Kiernan, Paul (December 9, 2021). "Crypto Executives Defend Industry as Congress Considers Oversight". Wall Street Journal. Retrieved December 25, 2021.
  28. ^ "US SEC Schedule 13D, Robinhood Markets, Inc".
  29. ^ Macheel, Tanaya (May 12, 2022). "Robinhood shares pop more than 20% after Sam Bankman-Fried buys 7.6% stake". CNBC.
  30. ^ "Text messages reveal Sam Bankman-Fried's guru told Elon Musk the crypto billionaire was 'potentially interested' in buying Twitter". Business Insider. Retrieved October 1, 2022 – via Yahoo!Finance.
  31. ^ "Elon Musk seems to have ghosted an offer of up to $15 billion from FTX's Sam Bankman-Fried's adviser to invest in Twitter". Fortune. Retrieved October 2, 2022.
  32. ^ "FTX's Bankman-Fried Quietly Invested More than $500 Million in Sequoia and Other VCs". The Information. Retrieved November 12, 2022.
  33. ^ Nguyen, Britney. "FTX investor Sequoia removed its glowing 13,000-word profile of Sam Bankman-Fried and replaced it with somber note after its investment cratered to $0". Business Insider. Retrieved November 12, 2022.
  34. ^ Griffith, Erin; Yaffe-Bellany, David (November 11, 2022). "Investors Who Put $2 Billion Into FTX Face Scrutiny, Too". The New York Times.
  35. ^ a b Osipovich, Alexander (April 16, 2021). "This Vegan Billionaire Disrupted the Crypto Markets. Stocks May Be Next". Wall Street Journal. Archived from the original on June 4, 2021.
  36. ^ Nast, Condé (August 8, 2022). "The Reluctant Prophet of Effective Altruism". The New Yorker. Retrieved November 11, 2022.
  37. ^ Alexander, Sophie (November 11, 2022). "Bankman-Fried's 'Effective Altruism' Implodes With His Fortunes". Bloomberg.
  38. ^ "Sam Bankman-Fried's 'Effective Altruism' Team Resigns Amid FTX Meltdown". Gizmodo. November 11, 2022. Retrieved November 11, 2022.
  39. ^ Ostroff, Caitlin (November 7, 2022). "Binance to Sell Holdings of FTX's Token as Relations Between Crypto Exchanges Fray". The Wall Street Journal. Retrieved November 7, 2022.
  40. ^ a b Kharif, Olga (November 6, 2022). "Binance To Sell $529 Million of Bankman-Fried's FTT Token". Bloomberg. Retrieved November 7, 2022.
  41. ^ Lagerkranser, Philip; Nicolle, Emily; Shukla, Sidhartha (November 7, 2022). "Binance's CZ and FTX's Sam Bankman-Fried Trade Barbs Over Twitter". Bloomberg. Retrieved November 7, 2022.
  42. ^ Melinek, Jacquelyn (November 7, 2022). "Here's the rundown on the Binance and FTX fiasco". TechCrunch. Retrieved November 7, 2022.
  43. ^ Lagerkranser, Philip; Ossinger, Joanna (November 8, 2022). "Crypto Billionaires' Brawl Triggers Contagion Fears in Markets". Bloomberg. Retrieved November 8, 2022.
  44. ^ "This enigmatic billionaire just took down a crypto rock star". Washington Post. ISSN 0190-8286. Retrieved November 12, 2022.
  45. ^ Yang, Yueqi (November 8, 2022). "CZ's Binance to Buy Rival FTX After Sam Bankman-Fried Faces Liquidity Crunch". Bloomberg. Retrieved November 8, 2022.
  46. ^ Ge Huang, Vicky; Ostroff, Caitlin (November 8, 2022). "Crypto Exchange Binance Agrees to Acquire Rival FTX". The Wall Street Journal. Retrieved November 8, 2022.
  47. ^ Singh, Manish (November 8, 2022). "Crypto giant Binance to acquire rival FTX following 'liquidity crunch'". TechCrunch. Retrieved November 8, 2022.
  48. ^ "Binance plans to buy rival FTX in bailout as crypto market crumbles". South China Morning Post. November 9, 2022 – via Reuters.
  49. ^ Sigalos, MacKenzie (November 8, 2022). "FTX's token plunges 80% on liquidity concerns, wiping out over $2 billion in value". CNBC.
  50. ^ Binance Says It Will Walk Away from Deal to Buy FTX, Wall Street Journal, 9 November 2022.
  51. ^ Sigalos, MacKenzie; Rooney, Kate (November 9, 2022). "Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse". CNBC.
  52. ^ "FTX Token Falls 80% Despite Binance Bailout as Alameda Contagion Spreads to Bitcoin". au.finance.yahoo.com. Retrieved November 11, 2022.
  53. ^ Beyoud, Lydia; Yang, Yueqi; Kharif, Olga (November 9, 2022). "Sam Bankman-Fried's FTX Empire Faces US Probe Into Client Funds, Lending". Bloomberg. Retrieved November 9, 2022.
  54. ^ Evans, Brian (November 10, 2022). "Sam Bankman-Fried secretly transferred FTX customer funds to Alameda Research after his trading firm suffered losses in the spring, report says". Markets Insider. Retrieved November 10, 2022.
  55. ^ Berwick, Angus; Wilson, Tom (November 10, 2022). "EXCLUSIVE Behind FTX's fall, battling billionaires and a failed bid to save crypto". Reuters. Retrieved November 10, 2022.
  56. ^ Ge Huange, Vicky; Osipovich, Alexander; Kowsmann, Patricia (November 10, 2022). "FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall". Wall Street Journal. Retrieved November 10, 2022.
  57. ^ Ostroff, Dave Michaels, Elaine Yu and Caitlin. "WSJ News Exclusive | Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds". WSJ. Retrieved November 12, 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  58. ^ Hill, Jeremy (November 11, 2022). "FTX Goes Bankrupt in Stunning Reversal for Crypto Exchange". Bloomberg. Retrieved November 11, 2022.
  59. ^ "Oops. Sam Bankman-Fried's implosion took down Democrats' second-biggest donor with it as the party gears up to regulate crypto". Fortune. Retrieved November 11, 2022.
  60. ^ Durot, Matt. "Ahead Of His Crypto Firm's Cash Crunch, Billionaire Sam Bankman-Fried Spent Tens Of Millions On Politics". Forbes. Retrieved November 11, 2022.
  61. ^ Sigalos, MacKenzie. "FTX's Sam Bankman-Fried backs down from 'dumb quote' about giving $1 billion to political races". CNBC. Retrieved November 11, 2022.
  62. ^ "Meet the mega-donors pumping millions into the 2022 midterms". Washington Post. Retrieved November 11, 2022.
  63. ^ a b c d e Sutton, Sam (February 8, 2022). "Crypto's aspiring Washington kingmaker". POLITICO. Retrieved May 13, 2022.
  64. ^ Yaffe-Bellany, David (May 14, 2022). "A Crypto Emperor's Vision: No Pants, His Rules". The New York Times. Retrieved May 14, 2022.
  65. ^ "Analysis | FTX's Sudden Unraveling May Allow DeFi to Grow". Washington Post. ISSN 0190-8286. Retrieved November 12, 2022.
  66. ^ "Sam Bankman-Fried was the face of crypto in D.C. What would FTX's acquisition mean for regulation?". Fortune. Retrieved November 12, 2022.
  67. ^ Lang, Hannah (November 9, 2022). "Explainer: Crypto industry spends millions on U.S. midterm elections". Reuters. Retrieved November 12, 2022.
  68. ^ Schreckinger, Ben (January 16, 2022). "Bitcoin crashes the midterms". POLITICO. Retrieved May 13, 2022.
  69. ^ Lee, Georgina (July 1, 2021). "Crypto firm ropes in Gisele, Tom Brady to burnish green credentials". South China Morning Post. Retrieved July 28, 2021.
  70. ^ "2022 Top Donors to Outside Spending Groups | OpenSecrets".
  71. ^ Anthony Adragna (January 27, 2022). "A new Democratic super PAC has entered the chat: Protect Our Future will invest $10 million in Democratic primaries for lawmakers who take "a long term view on policy planning."". Politico. Bankman-Fried setup a number of charitiable initials, including the likes of FTX Foundation, FTX Climate and FTX's Future Fund. In 2011, Bankman-fried gave over $132 Million in funding to 232 grants and investments. Organizations
  72. ^ "A 30-Year-Old Crypto Billionaire Wants to Give His Fortune Away". Bloomberg.
  73. ^ Gach, Sam (November 10, 2022). "Crypto's Biggest Crash Saw Guy Playing League Of Legends While Luring Investors [Update]". Kotaku. Retrieved November 12, 2022.
  74. ^ "Exclusive: 30-year-old billionaire Sam Bankman-Fried has been called the next Warren Buffett. His counterintuitive investment strategy will either build him an empire—or end in disaster". Fortune. Retrieved November 10, 2022.
  75. ^ Ashworth, Louis (November 11, 2022). "Sam Bankman-Fried is not very good at League of Legends". Financial Times. Retrieved November 12, 2022.
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