His exchange had tokenized Tesla, Amazon, and Apple. Sam Bankman-Fried (SBF) reveals himself in an interview with New York Magazine. The crypto entrepreneur weighs 10 billion dollars.
The cryptos behind the man
According to New York Magazine, the founder of Alameda Research and FTX, Sam Bankman-Fried, has amassed a fortune largely through cryptomoney over the past 10 years.
SBF estimates its net worth at $10 billion, mostly in illiquid assets. He was a Wall Street trader before he plunged into the cryptos in 2018.
SBF took advantage of premium Kimchi, which is the difference in the price of BTC between Korea and the rest of the world.
Due to restrictions in Korea, he continued his adventure in Japan; SBF moved up to $25 million a day through intermediaries and local banks at the height of the price differential.
The founder of FTX attracted media attention in 2020 after donating $5.2 million to support Joe Biden’s campaign.
He was the second largest contributor to the campaign after billionaire Michael Bloomberg.
Alameda Research: A War Machine
Alameda Research currently generates over $2 billion in revenue per day.
SBF focuses on the development of the FTX exchange, and the DeFi Serum (SRM) project based on the Solana (SOL) blockchain.
The price of the FTX token (FTT) rose by 100% in January 2021, as the interest rate on the exchange surpassed that of Bitmex and Deribit.
The FTT token has just reached a new ATH of USD 13.60. FTX has recently created a Wall Street Bets index including GME, AMC and DOGE.
Was Sam Bankman-Fried right to support Joe Biden? The Biden administration is creating a favorable environment for Bitcoin (BTC) with its $1.9 trillion stimulus package. However, Janet Yellen could contribute to an unfavourable regulatory environment for cryptomoney. SBF compares his memory to the RAM of a computer; the man describes himself as a workaholic. SBF is trading at EUR 11.12 at the time of writing. In theory, it should benefit from the boom in the cryptos markets in general during the year 2021, and from the dynamism of the founder of FTX – the man whose mind remains in work mode when he sleeps at the office in bean bags – and his team.
Litecoin, welcome in the Silver Age