FTX CEO SBF Facing Legal Problems?
FTX CEO SBF may face legal troubles, not too dissimilar from the ones by Do Kwon. Binance will acquire FTX due to a liquidity crisis.
Sam Bankman-Fried is quickly becoming an outcast in the crypto community. Following a liquidity crisis, SBF's giant crypto exchange FTX will be acquired by Binance, CEO Changpeng Zhou has revealed. Binance is the largest crypto exchange and acquiring its biggest rival makes CZ the most powerful man in crypto.
Meanwhile, the SBF's fortunes took a turn for the worse. Within days, the second richest man in crypto, Sam Bankman-Fried, lost almost all of his wealth. According to Bloomberg's Billionaire Index, SBF was worth $16 billion before the liquidity crisis. However, he is now worth $991 million.
SBF's problems seem to be just beginning. Experts believe that both FTX and its founders see a large number of lawsuits headed their way.FTX
