Crytocurrency

After problems at FTX, SBF falls off of Bloomberg’s list of billionaires.

According to the Bloomberg Billionaires Index, crypto billionaire Sam Bankman-Fried may no longer be able to call himself a billionaire after his wealth dropped by 94% overnight.

Bankman-Fried used to be at the top of Bloomberg’s wealth index. At his peak, his estimated net worth was $26 billion. But the cryptocurrency business owner is no longer in the top 500.

Related: As the Binance-FTX deal cools the market, cryptocurrencies try to stay steady.

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