Bloomberg Terminal changed its estimate of the net worth of the CEO of FTX Sam Bankman Fried on November 8 in 991 millions dollars, from the $16 billion it had the day before.
The reduced value that strips SBF of its billionaire status comes as FTX's stock ticker, FTT, fell more than 83% to just $2,67 from a daily high of $20,47.
A large percentage of Sam Bankman-Fried's wealth was tied to his business activities with both FTX and Alameda Research, which means that the decline in the price of FTT tokens directly affects his personal wealth as well.
The community encryptions on Twitter, he did not stop commenting stating that the decline in SBF offsets the losses of most retail investors in 2022.
Meanwhile, Bitcoin is trading at $18.177, down nearly 60% since the start of 2022. It's down around 75% from its record high of $69.000 in November 2021.
The Ministry of Justice of USA announced yesterday that it had seized $3,36 billion worth of stolen Bitcoins during a 2021 federal raid at the residence of James Zhong, which has not been announced until now.
