In this article
VYGVQ+0.0125 (+5.61%)
Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021.
Lam Yik | Bloomberg | Getty Images
Sam Bankman-Fried became a crypto billionaire and one of the most famous players in the industry by building cryptocurrency exchange FTX into a top site used by traders and investors.
His company was valued at $32 billion in January and currently has more than a million users averaging a total of nearly $10 billion in daily trading volume. But it’s still privately held, so the public doesn’t know how badly it’s been harmed by the “crypto winter” of the last few months. As a point of reference, Coinbase, which is public, has lost roughly two-thirds of its value this year, and mining company Marathon Digital is down by more than half.
While Bankman-Fried, who lives in the Bahamas, has the financial benefit of opacity, his exposure to the broader industry washout became readily apparent last week during...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...