What to know about former FTX CEO Sam Bankman-Fried?
Sam Bankman-Fried, the 30-year-old founder of FTX, quickly ascended to the top of the cryptocurrency sector, garnering goodwill in recent years as a philanthropist and leading proponent of industry regulation.
The cover of Fortune Magazine in August asked readers whether Bankman-Fried, known by some as "SBF," was "the next Warren Buffett."
![PHOTO: In this file photo taken on Feb. 9, 2022, Samuel Bankman-Fried, founder and CEO of FTX, testifies on Capitol Hill in Washington, D.C.](https://i.abcnewsfe.com/a/331b4785-dba1-448b-9280-4afb1290dd3b/sbf-testimony_hpEmbed_20221212-170234_3x2.jpg)
After the sudden bankruptcy of FTX, however, he faced withering questions over the mismanagement of billions in customer funds.
Meanwhile, his net worth plummeted from $16 billion to $0 in less than a week, according to an estimate from Bloomberg.