{"id":508126,"date":"2022-11-09T08:29:05","date_gmt":"2022-11-09T05:29:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sbf-tumbles-off-bloombergs-billionaire-index-after-trouble-at-ftx\/"},"modified":"2022-11-09T08:29:05","modified_gmt":"2022-11-09T05:29:05","slug":"sbf-tumbles-off-bloombergs-billionaire-index-after-trouble-at-ftx","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sbf-tumbles-off-bloombergs-billionaire-index-after-trouble-at-ftx\/","title":{"rendered":"# SBF tumbles off Bloomberg&#8217;s billionaire index after trouble at FTX"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be2f574ab3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be2f574ab3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sbf-tumbles-off-bloombergs-billionaire-index-after-trouble-at-ftx\/#%E2%80%9D_SBF_tumbles_off_Bloombergs_billionaire_index_after_trouble_at_FTX_%E2%80%9C\" >&#8221; SBF tumbles off Bloomberg&#8217;s billionaire index after trouble at FTX &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SBF_tumbles_off_Bloombergs_billionaire_index_after_trouble_at_FTX_%E2%80%9C\"><\/span>&#8221; SBF tumbles off Bloomberg&#8217;s billionaire index after trouble at FTX &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWQzYmRmMGMtNjZlNS00ODY3LWE5Y2MtZTVlYWYxYTIxOTgwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Crypto billionaire Sam Bankman-Fried may not be able to claim the &#8220;billionaire&#8221; accolade anymore after an estimated 94% plummet in his personal wealth overnight, according to the Bloomberg Billionaires Index.<\/p>\n<p>Bankman-Fried was once a high rider in Bloomberg\u2019s wealth index with an estimated net worth of $26 billion at his peak. However, the crypto entrepreneur is now no longer <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears in the top 500.<\/p>\n<p>On Nov. 9, the outlet<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-08\/sbf-net-worth-is-eviscerated-in-days-with-binance-set-to-buy-ftx\"> reported<\/a> that his personal fortune is &#8220;likely&#8221; to be &#8220;eviscerated\u201d should\u00a0the sale of his FTX exchange to rival Binance go through.\u00a0<\/p>\n<p>Before the Binance takeover announcement, Bankman-Fried\u2019s 53% stake in FTX was worth around $6.2 billion. He also maintained ownership of Alameda Research, adding a further $7.4 billion to his personal fortune.<\/p>\n<p>The Bloomberg wealth index assumes that Bankman-Fried and existing investors will be wiped out by the Binance takeover, and values the two companies at just $1. <\/p>\n<p>This means that Bankman-Fried is now worth around $1 billion, down from $15.6 billion on Nov. 8\u00a0 in the \u201cbiggest one-day collapse ever among billionaires tracked by Bloomberg.\u201d<\/p>\n<p>Details on the takeover have not been divulged yet but it does not include the U.S. arm of the exchange, FTX.US. The American-only exchange was valued at around $8 billion earlier this year.<\/p>\n<p>The agreement between the exchanges so far is only a non-binding letter of intent which Binance is able &#8220;to pull out from [&#8230;] at any time&#8221; according to Bankman-Fried.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>SBF calls for collaboration with Binance \u2018for the ecosystem\u2019<\/em><\/strong><\/p>\n<p>On Nov. 8 Zhao posted his \u201ctwo big lessons\u201d from the latest crypto debacle. The first was never using a token that the exchange has created as collateral. Secondly, crypto businesses should not borrow or use capital \u201cefficiently\u201d but have a large reserve instead.<\/p>\n<p>FTX Token (FTT) the exchange\u2019s native token at the epicenter of this latest crypto contagion, has tanked a whopping 75% over the past 12 hours. The collapsed FTT token was trading at $4.86 at the time of writing, down 94% from its September 2021 peak of $84.18.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sbf-tumbles-off-bloomberg-s-billionaire-index-after-trouble-at-ftx\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SBF tumbles off Bloomberg&#8217;s billionaire index after trouble at FTX &#8220; Crypto billionaire Sam Bankman-Fried may not be able to claim the &#8220;billionaire&#8221; accolade anymore after an estimated 94% plummet in his personal wealth overnight, according to the Bloomberg Billionaires Index. Bankman-Fried was once a high rider in Bloomberg\u2019s wealth index with an estimated&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWQzYmRmMGMtNjZlNS00ODY3LWE5Y2MtZTVlYWYxYTIxOTgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75147,135234,127241,89897,117],"class_list":["post-508126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bloomberg","tag-ftx","tag-ftx-token","tag-sam-bankman-fried","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508126"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508127"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}