{"id":1735520,"date":"2022-11-11T16:03:38","date_gmt":"2022-11-11T21:03:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1735520"},"modified":"2022-11-11T16:03:42","modified_gmt":"2022-11-11T21:03:42","slug":"from-16-billion-to-zero-dem-megadonor-sam-bankman-fried-has-lost-all-his-money","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/from-16-billion-to-zero-dem-megadonor-sam-bankman-fried-has-lost-all-his-money\/","title":{"rendered":"From $16 Billion to Zero: Dem Megadonor Sam Bankman-Fried Has Lost All His Money"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffrom-16-billion-to-zero-dem-megadonor-sam-bankman-fried-has-lost-all-his-money%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1735520&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <a class=\"\" href=\"https:\/\/freebeacon.com\/democrats\/\">Democrats<\/a> <\/p>\n<p class=\"article-excerpt\">The crypto scion had pledged to donate $1 billion to Dem campaigns <\/p>\n<p>    Sam Bankman-Fried (Reuters)   <a href=\"https:\/\/freebeacon.com\/author\/benjamin-wilson\/\" title=\"Posts by Benjamin Wilson\" class=\"author url fn text-red-700\" rel=\"author\">Benjamin Wilson<\/a> \u2022 November 11, 2022 4:00 pm  <\/p>\n<p dir=\"ltr\">The net worth of crypto scion Sam Bankman-Fried, who this year promised to donate a billion dollars to Democratic campaigns, is $0.<\/p>\n<p dir=\"ltr\">After his cryptocurrency company FTX declared bankruptcy and Bankman-Fried stepped down as CEO, the Democratic megadonor lost his entire $16 billion fortune.<\/p>\n<p dir=\"ltr\">The loss is one of the greatest destructions of a net worth ever, Bloomberg <a href=\"https:\/\/www.bnnbloomberg.ca\/bankman-fried-s-assets-plummet-from-16-billion-to-zero-in-days-1.1844991#:~:text=(Bloomberg)%20%2D%2D%20The%20entire%20%2416,history%20of%20the%20crypto%20world\" target=\"_blank\" rel=\"noopener\">reported<\/a>:<\/p>\n<p dir=\"ltr\"><em>The downfall of his crypto empire\u2014which filed for bankruptcy on Friday along with his resignation\u2014means assets owned by the mogul once likened to John Pierpont Morgan have become worthless.\u00a0<\/em><\/p>\n<p dir=\"ltr\"><em>At the peak, the 30-year-old was worth $26 billion, and he was still worth almost $16 billion at the start of the week.<\/em><\/p>\n<p dir=\"ltr\"><em>The Bloomberg Billionaires Index now values FTX\u2019s US business\u2014of which Bankman-Fried owns about 70%\u2014at $1 because of a potential trading halt, from $8 billion in a January fundraising round.<\/em><\/p>\n<p>On Thursday, Bankman-Fried&#8217;s philanthropic aides resigned, <a href=\"https:\/\/puck.news\/the-s-b-f-pandemic\/?1668191801\" target=\"_blank\" rel=\"noopener\">according<\/a> to <em>Puck News<\/em>. They wrote a letter saying FTX leadership &#8220;may have engaged in deception or dishonesty.&#8221;<\/p>\n<p>&#8220;We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund,&#8221; the letter said. &#8220;As a result, we resigned earlier today.&#8221;<\/p>\n<p dir=\"ltr\">Bankman-Fried <a href=\"https:\/\/freebeacon.com\/biden-administration\/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/biden-administration\/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago\/&#038;source=gmail&#038;ust=1668280614007000&#038;usg=AOvVaw2gPeXgGBHLMuVEFKMqSbFq\">was a friendly face<\/a> at the White House, participating in meetings just months ago. The Securities and Exchange Commission and Commodity Futures Trading Commission are now investigating FTX for allegedly mishandling customer funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The net worth of crypto scion Sam Bankman-Fried, who this year promised to donate a billion dollars to Democratic campaigns, is $0.<br \/>\nThe post From $16 Billion to Zero: Dem Megadonor Sam Bankman-Fried Has Lost All His Money appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":1467,"featured_media":1735523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1735520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1735520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1467"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1735520"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1735520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1735523"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1735520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1735520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1735520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}