Stock Market Panic! SBF Net Worth Plummets 94% Overnight

FTX head Sam Bankman Fried lost nearly $15 billion from his personal wealth yesterday.

SBF that is no longer among the 500 largest firms on the Bloomberg billionaire index.

Bankman-Fried had an estimated net worth of over $26 billion at the peak of his career.

This record-breaking one-day drop in billionaire wealth was recognized by Bloomberg.

Binance has signed a non-binding letter of intent for FTX.

FTT token value tumbled from about $18 to $5 within a few hours of the news.

CZ Binance's wealth did not increase much as he is currently ranked 87th in Bloomberg's billionaire index.