SBF (Sam Bankman-Fried) is the founder and former CEO of FTX, a now-defunct cryptocurrency exchange, and Alameda Research, a crypto trading firm. He was once a prominent figure in the crypto industry, known for his rapid rise to billionaire status and influence in crypto regulation discussions.
However, in November 2022, FTX collapsed due to liquidity issues and allegations of fraud, revealing that billions of customer funds were mismanaged. SBF was arrested and later convicted of fraud and conspiracy charges in 2023, facing potential decades in prison.
A few hours ago, he dropped a tweet on his X account giving his opinion about sacking employees - leaving many jaws dropping. Was he tweeting from jail? Why is he back in this downward market condition?