Sam Bankman-Fried co-founded the crypto exchange FTX in 2019.FTX
- Crypto exchange FTX collapsed almost a year ago and its cofounder Sam Bankman-Fried is going to jail.
- Bankman-Fried was once revered in the crypto industry and FTX was endorsed by major celebrities.
The failed crypto exchange FTX filed for bankruptcy just over a year ago, in November 2022, and a series of wild stories have emerged about the company since.
The company's collapse revealed that its cofounder and CEO Sam Bankman-Fried had secretly been funnelling customer funds to prop up its sister firm Alameda Research.
Bankman-Fried has now been found guilty of seven counts of fraud and conspiracy in a month long criminal trial in Manhattan and may face up to 110 years in prison.
However, the disgraced tech founder was once a billionaire and revered in the crypto industry. He had connections all over the entertainment industry including with celebrities like Anna Wintour, Tom Brady, Gisele Bündchen, and Larry David.
He was also the poster-boy for a movement known as effective altruism, where he claimed to give as much of his money away as possible to charitable movements.
However, since FTX's bankruptcy, details have emerged about the wild and lavish lifestyle Bankman-Fried and his colleagues at FTX lived.
Read on to discover some of the craziest revelations about FTX to have emerged in the past year.