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Sam bankman Freud has now suffered a Mighty Fall the crypto entrepreneur is known for providing a financial Lifeline to struggling firms in the industry but he is now in need of a bailout himself Sam bankman fried started this week firmly in the realm of billionaires but after the collapse of his crypto exchange FTX he may find himself out of the club in a matter of days the billionaire has gone from riches to rags how often do you hear that only days ago he had an estimated Fortune of more than 15 billion dollars but it tumbled down by one billion dollars overnight Bachmann Freud suffered a steep fall of 94 percent in his net worth after announcing the sellout of his firm he revealed that FTX was being bought by its rival binance the deal however was scrapped later due to FTX mishandling of funds now the irony is binance CEO Shang Peng Zhao lost about 75 billion dollars himself due to the crypto crash
