Spotlight: Sam Bankman-Fried đź‘‘
Introduction
Our next King’s spotlight is on Sam Bankman-Fried, he is the mastermind behind FTX exchange and a “blockchain billionaire, rated as the second wealthiest in the crypto scene. Let’s dive in and find out more!
Quant to Crypto
Sam, commonly known in Crypto circles as SBF is a graduate alum of the famed MIT following which he began his career as a quantitative trader at a hedge fund. Using this experience he spotted huge arbitrage in the inefficient crypto markets which spurred the formation of Alameda Research, a crypto trading firm headed up by SBF. Alameda has been described as the “Moby Dick” of crypto whales, solely responsible for up to 10% of market volumes at any one time.
SBF gained fanfare during the 2020 DeFi summer for single handedly rescuing the sushi protocol in a dramatic turn of events where Chef Nomi, the original creator of the protocol drained dev wallet of over 20K ETH, this ETH was subsequently returned by the Chef before disappearing into the shadows. Sushiswap is now in the hands of the community and thriving, currently ranking in the top 50 coins by total market capitalisation.
In 2019 SBF launched FTX exchange, which at time of writing is now a top 20 exchange by daily traded volume, and top 3 for derivatives trading!
FTX has recently gone mainstream in a historical deal reportedly worth $135 million over 19 years, renaming the Miami Heat stadium to the FTX Arena.
The Philanthropist
SBF has reportedly amassed a fortune in excess of $10 billion in his mere three year tenure in crypto, of which he is planning to give away half. It was recently reported that he was the second largest donor to the now President Biden’s election campaign. Besides his personal charitable causes, FTX exchange recently announced foundation has vouched to give 1% of all platform fees away to charities, of which platform users can vote on from a shortlist.
SBF has truly earned his spot as a King of Crypto in his small but impactful time in the industry, we cannot wait to see what he achieves in the next 10! đź‘‘
The CryptoKings generative NFT sale is now LIVE! head on over to CryptoKings to find out more and try to bag yourself an SBF NFT.
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