The Bloomberg Terminal has up to date its estimate of FTX CEO Sam Bankman-Fried’s web value on Nov. 8 to $991 million, down from $16 billion the day earlier than.Supply: BloombergThe decreased estimate that takes away SBF’s billionaire standing comes because the native token of the FTX trade, FTT, fell over 83% to a low of simply $2.67 from a each day excessive of $20.47. A big proportion of SBF’s wealth is tied to his enterprise actions with each FTX and Alameda Analysis, that means a discount within the value of FTT tokens would instantly have an effect on his private wealth.The crypto group on Twitter, by no means to draw back from including comedy to tragedy, shared memes and anecdotes evaluating SBF to Mark Zuckerberg and the fictional Russ Hannemann from the TV present Silicon Valley. Hannemann had the same expertise dropping his “3 commas” standing, changing into “simply” a multimillionaire. As well as, many customers commented that SBF’s fall from grace outweighs most retail traders’ 2022 losses.Dwell look inside SBF’s home rn:— _ (@ms75015577) November 8, 2022The FTT token has recovered considerably because it trades up 83% from its each day low at $4.77 as of press time. SBF is understood to even have holdings in Voyager Digital, Robinhood, Alameda Analysis, and BlockFi, which make up a few of his nonetheless multi-million fortunes.Get an Edge on the Crypto Market 👇Change into a member of CryptoSlate Edge and entry our unique Discord group, extra unique content material and evaluation. On-chain evaluation Value snapshots Extra context Be part of now for $19/month Discover all advantages

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