An epic fall from grace.
"Duped I guess is the right word, but I am very disappointed because I do like Sam," Anthony Scaramucci, the founder of FTX investor SkyBridge Capital and notoriously short-lived White House communications director, toldBankman-Fried, once seen as the "Robin Hood of crypto," used his personal wealth toThe CEO rapidly became synonymous with a controversial form of philanthropy often referred to as "effective altruism," the idea of using data to figure out how to...
In Bankman-Fried's case, he said the idea was to amass huge amounts of wealth to maximize the amount of positive impact he could have on other people. In reality, his donations remained modest even before his spectacular fall from grace, especially compared to the big promises he made. At one point, Bankman-Fried promised to donate up to $1 billion to the next US presidential election, butNow that his net worth has plummeted, the picture is looking drastically different.
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Wall Street Bank Jefferies Had Concerns About Sam Bankman-Fried in July.HandlerRich, the CEO of banking giant Jefferies Financial Group, revealed a series of emails that expressed concerns as early as July that SBF_FTX was overextended. BrandyBetz reports
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‘I f–ked up’: FTX’s Sam Bankman-Fried makes profanity-laced apology as collapse loomsThe FTX founder admitted that he was “substantially off on my sense of users’ margin.”
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