5 ms·
Well his hedge fund blew up which took down his exchange. Presumably he was broke a long time ago which is why he dipped into clients funds. He stood to make a
by qeternity 4y ago
Well his hedge fund blew up which took down his exchange. Presumably he was broke a long time ago which is why he dipped into clients funds.
He stood to make a lot more from this working out than what the current situation permits.
- bananapub 4y ago? The allegation is he moved money between companies to support his terrible “hedge” fund. Where have you seen anything at all about him not having a lot of personal money?
- qeternity 4y agoBecause most of his wealth was in that very hedge fund, and presumably he invested every last personal dollar before declaring bankruptcy. Or put another way, where have you seen anything at all about him having a lot of assets outside of the Alameda and FTX groups?
- shapefrog 4y ago$500mil of robinhood stock, 25%+ of Anthony Scaramucci's $10bn hedge fund, and alegedly $250 mil of real estate in the bahamas etc.
- dragonwriter 4y agoBloomberg Billionaires Index estimates that SBF has lost 100% of his net worth, all of which was in one way or another tied into Alameda/FTX-related firms (there was some invested in Robinhood, but it was used as collateral for Alameda-related loans.) https://www.thestreet.com/investing/cryptocurrency/crypto-billionaire-bankman-frieds-huge-fortune-plummets-to-0 https://www.thestreet.com/investing/cryptocurrency/crypto-bi... (this covers the details, but isn’t paywalled.)