Sam Bankman Fried’s FTX Scam Sex, lies and scandal will always remain present among Manhattan’s elite. In the last year it was Sam Bankman Fried and the scam of his company: FTX. Sam Bankman Fried (SBF) rose from less than humble beginnings as being a legacy from Stanford. He graduated from there with a degree in physics. He entered the trading world at Jane Street Capital, a wellrespected trading firm. He began crypto currency founding Alameda Research, a cryptocurrency trading firm, this led to the establishment of FTX in 2019. He became the face of the crypto currency movement, and his elusive personality gained intrigue from investors all over the world. Several celebrity partnerships like a $55 million partnership with Tom Brady and his supermodel girlfriend Gisele Bundchen, allowed FTX to increase in reputation. Sam Bankman Fried was an advocate for transparency and innovation in the market. However, there were underlying concerns with the relationship with these two companies FTX and Alameda Research. It all fell apart in November 2022 when it was found out that Alameda’s balance sheet was underpinned with FTT the FTX token.
This set off the questioning the interdependence of the two companies. The balance sheet showed that Alameda’s 5.82/14.6 billion of assets 40% were FTT a token created by SBF instead of an independently stable coin/token with a market price or an affiliattion with a reputable bank.
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GTA VI: Great Expectations
This worsened when Binance intended to liquidify their assets in FTT coin. This After 10 years of anticipation GTA VI is caused the value of FTT to crash, causing finally on its way. Its trailer, released on 4th customers to panic December 2023, was a massive hit. It withdraw assets amounted to more views in 24 hours than and liquidify their GTA V’s has ever got amassing a huge 107 shares in FTX. million watches by eager fans. It introduced This did not a whole new map (in the original Vice happen as the firm City), two new characters (Jason & Lucia) revealed they did and all new graphics sure to attract the few not have the fans that were on the fence about purchasing capital to uphold the withdrawals. At the GTA VI on its release in 2025. day of the crash it was found that FTX only The Price had $900 million assets and $9.4 billioin in liabilities. This caused FTX to crash into As there would be, there have been many bankruptcy. rumours about the price of GTA VI. On November 11th, 2022, SBF resigned as CEO and the next day FTX admitted to the disappearance of $1-2 billion of customer funds. A year later the SBF trial began on October 3rd, 2023, with SBF pleading Not Guilty. A month later, on November 2nd, 2023. A jury found him guilty on all seven criminal counts against him. He now faces a maximum sentence of 115 years in prison. His sentencing is scheduled for March 31st, 2024. There have been rumours ranging from £40-
By Isaac Hayden
£120. However, Rockstar- the creator of the GTA series- has said a price of around £55 or higher would be fair with the experience GTA VI is looking to offer.
