FTX's former Chief Executive Officer (CEO) Sam Bankman-Fried, says that his bank account has slumped to roughly $100,000 after the giant cryptocurrency exchange abruptly collapsed.
Fried used to run FTX, which was worth a staggering $32 billion. But this time, it looks like his personal finances have gone into a whirlwind.
(Photo : SAUL LOEB/AFP via Getty Images)
Samuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing about "Examining Digital Assets: Risks, Regulation, and Innovation," on Capitol Hill in Washington, DC, on February 9, 2022.
FTX ex-CEO Sam Bankman-Fried's Bank Account: How Much is Left
As per the latest news story by the Business Insider, the former FTX boss shared how much is left in his bank account in his recent interview.
The news outlet notes that in early November, Bankman-Fried still boasted a net worth of $15.6 billion. However, it was down to merely $1 billion in a single day.
It comes as his crypto exchange service apparently filed for bankruptcy. He also stepped down as its CEO after FTX failed to secure the bailout it needed.
And now, the former big boss of FTX says his bank account now only contains a hundred dollars, to say the least.
The ex-CEO of the crypto exchange told Axios how much is left in his bank account after he was asked about his finances.
Axios asked Bankman-Fried how his finances were after FTX badly collapsed. He responded by asking, "Am I allowed to say a negative number?" He went on to explain that he actually has no idea.
But as he was trying to answer the question, he blurted out that "he had $100,000" in his bank account when he last checked it.
So if the former crypto exchange exec was to be believed, it turns out that his bank account is now down to a hundred dollars.
Read Also: FTX Crypto Exchange Bankrupted! CEO Bankman-Fried Resigns; Should Consumers Worry About It?
Bankman-Fried's Wealth and FTX
He further noted in his interview that his wealth is sort of "complicated." He explained that his net worth is actually "tied up in the company," according to a recent report by the Fortune.
(Photo : Dan Kitwood/Getty Images)
A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile.
It is worth noting that the crypto exchange used to be valued at a cool $32 billion before everything got messed up.
The former chief exec admitted that "[he] wishes [he'd] been more careful."
"I obviously deeply regret this. I've been focusing on volume, rather than positions for balances," Bankman-Fried states in his Axios interview.
He went on to say that he "should have been more responsible, and I should have been more on top of what was going on."
Related Article: Former FTX CEO Denies Speculations Fleeing to South America After Resignation
