Sam Bankman-Fried is alleged to have lost $100M of FTXs money at online casinos. It is, however, not the first time Bankman-Fried has lost funds either. The collapse of Terra/Luna in May caused massive losses for Sams Alameda Research Fund. In hopes of winning back some of the losses, it appears that Sam hit the blackjack floor with FTX money. Unfortunately, he dug the hole deeper. According to Nansen Research, he lost $100 million in Ethereum and USDT playing at crypto casinos like Stake, Bitcasino, and others. The dots begin to join and Binances unveiling of the misappropriation of customer funds now seems to make sense.]Sam Bankman-Fried is alleged to have lost $100M of FTXs money at online casinos. It is, however, not the first time Bankman-Fried has lost funds either. The collapse of Terra/Luna in May caused massive losses for Sams Alameda Research Fund. In hopes of winning back some of the losses, it appears that Sam hit the blackjack floor with FTX money. Unfortunately, he dug the hole deeper. According to Nansen Research, he lost $100 million in Ethereum and USDT playing at crypto casinos like Stake, Bitcasino, and others. The dots begin to join and Binances unveiling of the misappropriation of customer funds now seems to make sense.
How in the world did SBF decide that gambling was the best course of action for recovering the funds? It seems to me that he has terrible friends around him. Have you ever thought of gambling as way to recover your funds and pay your debts? Does this look like a case of compulsive gambling?
Source:
https://www.pokcas.com/sam-bankman-fried-and-ftx-bankruptcy/SBF is still a youth and does not understand so many things in business due to his low mentality in the field. How will he think that he can gamble to regain back his lost from his business. He is so dumb and needs to learn his lesson in a hard way for gambling with customers funds in his custody.
This man has so many bad influencer around him that are making him to think so. All the money he donated,are we sure that those funds are not his customers funds that he was using for a charitable work. Gamble only on what you can afford to loose and not with peoples hard earned money or borrowed money. FTX crash started from SBF.