Episode 2376
Sam Bankman-Fried
Sat, 2023-Nov-04 01:38 UTC
Length - 2:53
Direct Link
Welcome to popular Wiki of the Day where we read the summary of a popular Wikipedia page every day.
With 217,006 views on Friday, 3 November 2023 our article of the day is Sam Bankman-Fried.
Samuel Benjamin Bankman-Fried (born March 6, 1992), or SBF, is an American convicted fraudster and former cryptocurrency entrepreneur. Bankman-Fried was the founder and CEO of the cryptocurrency exchange FTX and associated trading firm Alameda Research, both of which experienced a high-profile collapse resulting in chapter 11 bankruptcy in late 2022.
Prior to FTX's collapse, Bankman-Fried was ranked the 41st richest American in the Forbes 400, and the 60th richest person in world by The World's Billionaires. His net worth peaked at $26 billion. By November 11, 2022, amid the bankruptcy of FTX, the Bloomberg Billionaires Index considered his net worth to have been reduced to zero. Before his wealth evaporated, Bankman-Fried was a major donor to US political campaigns, donating openly to Democratic candidates as well as claiming that he planned to spend around $1 billion in the 2024 U. S. presidential election. On December 12, 2022, Bankman-Fried was arrested in The Bahamas and was subsequently extradited to the United States. An indictment of him before the U. S. District Court for the Southern District of New York was unsealed on December 13, revealing eight criminal charges for offenses including wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance law violations. An additional four charges were announced in February 2023. On December 22, Bankman-Fried was released on a $250 million bond, on condition that he reside at his parents' home in California. On August 11, 2023, his bail was revoked over alleged attempts at witness tampering and he was returned to detention. His first trial began on October 3, 2023; a second trial is scheduled for March 2024.
Bankman-Fried was convicted of seven counts of fraud and conspiracy, on November 2, 2023, and could get up to 110 years in prison.
This recording reflects the Wikipedia text as of 01:38 UTC on Saturday, 4 November 2023.
For the full current version of the article, see Sam Bankman-Fried on Wikipedia.
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