4 years ago today, this man lost $14.6 BILLION in a single day. His crypto exchange was worth $32 BILLION. In less than a week, it was bankrupt with an $8 BILLION hole. Meet Sam Bankman-Fried. 2017 - founds trading firm Alameda Research 2019 - launches FTX - it becomes one of the biggest crypto exchanges in the world 2021 - moves FTX to the Bahamas - puts FTX's name on the Miami Heat's arena - signs Tom Brady as an ambassador 2022 - January: FTX is valued at $32 BILLION - February: runs a Super Bowl ad with Larry David 2 November - CoinDesk reveals Alameda's balance sheet is mostly FTX's own token, FTT 6 November -CZ says Binance will sell all its FTT - customers rush to withdraw 8 November - about $6 BILLION pulled out in 72 hours - FTX freezes withdrawals - Binance agrees to buy FTX - SBF's fortune drops from $15.6B to $991M in one day 9 November - Binance walks away 11 November - FTX files for bankruptcy - an $8 BILLION hole in the balance sheet - BTC crashes from $21,300 to $15,500 in 4 days Then: - December 2022: arrested in the Bahamas - November 2023: guilty on all 7 counts - March 2024: sentenced to 25 years And the twist nobody talks about: FTX owned a stake in Anthropic. The estate sold it for $1.34 BILLION in 2024. Today it would be worth over $30 BILLION. Karma if you ask me. Customers were paid back at November 2022 prices, when BTC was about $17,000. Today it's $74,000. Was SBF the biggest fraud in crypto history? I certainly think so.