Technology

10 Little Known Facts About The Crypto Billionaire

  • In four years, Sam Bankman-Fried has amassed a net worth of $ 26.5 billion and built a crypto empire.
  • We spoke with his closest friends, family and colleagues to understand him and his accomplishments.
  • Here are 10 of the most surprising little-known facts we’ve learned.

Crypto billionaire Sam Bankman-Fred, 29, is the only person other than Mark Zuckerberg who has gotten rich so quickly.

His path to riches began with the opportunity to seize an arbitrage opportunity between Western and Asian cryptocurrency exchanges that ended up making 10% daily profits on multi-million dollar trades for his Alameda Research cryptocurrency store in 2018.

While arbitrating, he also realized that there was an opportunity to improve on the “fake exchanges” that existed and started a crypto exchange called FTX.

The exchange has gone from relative obscurity three years ago to sixth in spot trading and second in derivatives trading in just two years, according to CoinGecko.

Over the course of four short years, Bankman-Fried has built a crypto empire by leaps and bounds with a cumulative net worth of $ 26.5 billion, according to a Forbes estimate as of Dec. 13. Intense regulatory control, avoiding problems when the competition did not.

Insider spoke to Bankman-Fried and several of his closest friends, colleagues, and investors to get a detailed profile of the crypto billionaire. They describe what it is like to work with him, the daily habits that make him successful, and how he has managed to attract large investors while avoiding regulatory controls.

We’ve broken down some of the coolest facts we’ve learned about Bankman-Fried through our reports. Many of these were left on the cutting room floor and did not make it to the final profile, which you can read about here.

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