The Latest Breaking News from SBF

Out of nowhere, 30-year-old Sam Bankman-Fried became a billionaire mover and shaker in the world of cryptocurrency. Careful to make friends of powerful Democrats and media columnists alike, he threw money around the halls of Congress — and everywhere else he went — while threatening to disrupt Chicago’s financial futures…

“I think, what it boils down to from all the information we have [and] this bankruptcy report that has now been released is that FTX and SBF are complete frauds—not just frauds, but thieves,” David Ripley, incoming CEO at Kraken, tells Fortune.

SBF had donated close to $40 million in the 2021–2022 cycle, according to OpenSecrets.

The collapse of the cryptocurrency exchange will cost investors billions. But why would anyone give money to a man who plays video games in important meetings?

The Greek tragedy unfolding in the financial press over the last week is the story of Sam Bankman-Fried, the would-be cryptocurrency tycoon and political kingmaker whose multibillion-dollar empire has sunk like the Titanic after its encounter with the iceberg.

While Sam Bankman-Fried lost his whole fortune last week, he's not the first billionaire to see a dramatic drop in net worth.

The disgraced founder of FTX was “surprisingly calm” in a recent interview.

“I wanted to get rich, not because I like money but because I wanted to give that money to charity,” Sam Bankman-Fried once said.

Sam Bankman-Fried was what everyone wanted a crypto billionaire to be – until things began to go very, very wrong