Archive: la blockchain summit

Sam Bankman-Fried, CEO of the FTX crypto exchange and a very popular figure in the crypto community, has lost nearly 94% of his total wealth. FTX was having liquidity problems, so Binance stepped in to acquire the struggling exchange. The Bloomberg Billionaires Index assumes that existing FTX investors — including Bankman-Fried — will lose all their money in the Binance bailout. As of this writing, it’s unclear whether Binance will go…