Financial markets

Sam Bankman-Fried’s crypto firms had deep ties to Voyager Digital and its bankruptcy wipeout

MacKenzie Sigalos

In this article

VYGR

Sam Bankman-Fried became a crypto billionaire and one of the most famous players in the industry by building cryptocurrency exchange FTX into a top site used by traders and investors.

His company was valued at $32 billion in January and currently has more than a million users averaging a total of nearly $10 billion in daily trading volume. But it’s still privately held, so the public doesn’t know how badly it’s been harmed by the “crypto winter” of the last few months. As a point of reference, Coinbase, which is public, has lost roughly two-thirds of its value this year, and mining company Marathon Digital is down by more than half.

More Stories