{"id":69794,"date":"2022-11-09T13:49:00","date_gmt":"2022-11-09T11:49:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69794"},"modified":"2025-09-07T22:06:48","modified_gmt":"2025-09-07T19:06:48","slug":"bloomberg-excludes-sam-bankman-fried-from-its-billionaire-list","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-excludes-sam-bankman-fried-from-its-billionaire-list\/","title":{"rendered":"Bloomberg excludes Sam Bankman-Fried from its billionaire list"},"content":{"rendered":"

Over the course of a day, the fortune of FTX founder Sam Bankman-Fried plummeted by 94% \u2014 from $15.6 billion to $992 million<\/a> due to liquidity problems at the platform. Bloomberg removed him from its billionaire list<\/a>.<\/p>\n

According to the agency, this is the largest drop in wealth among billionaires in the index’s history.<\/p>\n

Bankman-Fried<\/a> owns 53% of FTX’s shares, which were previously valued at $6.2 billion, as well as Alameda Research valued at $7.4 billion. Analysts say that because of the latter’s troubles, investors in FTX, including Bankman-Fried, face a total loss of assets after Binance’s purchase of the exchange.<\/p>\n

In particular, the crisis could affect SoftBank Vision Fund, Singapore’s sovereign wealth fund Temasek and Ontario Teachers’ Pension Plan, which in January invested $400 million in the exchange<\/a> at a valuation of $32 billion.<\/p>\n

Meanwhile, the troubles of the main platform are not expected to affect the U.S. unit, FTX.US. It is a fully independent legal entity, whose valuation in early 2022 reached $8 billion. <\/p>\n

Earlier, on November 6, Binance CEO Changpeng Zhao stated<\/a> his intention to divest from the FTX utility token (FTT). Assets, together with BUSD, totaling around $2.1 billion, were the result of the company’s exit from its portfolio investment in FTX.<\/p>\n

On November 8, FTT quotes fell by almost 30%<\/a>. At the same time, Bitcoin price fell below the $20,000 mark<\/a>, dragging the rest of the market.<\/p>\n

Subsequently, Bankman-Fried and Zhao announced a strategic partnership<\/a>. It is designed to resolve the liquidity crisis and envisages a possible takeover of the FTX exchange by Binance.<\/p>\n

For analysis of the Binance-FTX standoff’s impact on the crypto market, read ForkLog’s special report.<\/p>\n

Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a day, the fortune of FTX founder Sam Bankman-Fried collapsed by 94%, from $15.6 billion to $992 million, due to the platform’s liquidity crisis.<\/p>\n","protected":false},"author":1,"featured_media":69795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1569,1166,1236,1156],"class_list":["post-69794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-bloomberg","tag-centralized-exchanges-cex","tag-ftx","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69794"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69794\/revisions"}],"predecessor-version":[{"id":69796,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69794\/revisions\/69796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69795"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}