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The founder of Crypto Exchange FTX, San Bankman Fried with approximately 130 additional affiliated companies net worth to zero after company file for bankruptcy.

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John J Ray III has been appointed as CEO of the FTX group as Sam Bankman Fried has resigned his role as CEO and will remain to assist for further order transition.

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According to Wall Street Journal, The Bankman’s Net Worth estimated $16 billion on 7th November, 2022 making him one of the 100 richest people in the world according to Bloomberg Billionaires Index.

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The Bankman Said – I sincerely apologize after rapid series of tweet on 10th November, 2022. He promises to save the company.

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He said – Right now, we are spending the week doing everything to raise liquidity, but I can’t promise about that. I am going to try, give anything I have already if that will work.

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The FTX has sports sponsorship of Formula One racing, Major Baseball League, Sport in Miami. The Mercedes said that it would remove FTX from its race cars from this weekend.

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The Justice Department and Securities and Exchange Commission were looking for any criminal activities or securities exchange offenses against FTX.

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The Sam Bankman Fried says that the Bitcoin network is not payment network. The Sam’s Net Worth is – 200 Million Dollar from 16 Million Dollar