Sam Bankman-Fried has come out of nowhere and become the closest thing crypto has to a central banker. He's on the MarketWatch 50 list. The MarketWatch 50 is made up of people whose actions, work and opinions are reverberating through financial markets:
In three years, Sam Bankman-Fried, or SBF as he is known, has come out of nowhere and become the closest thing crypto has to a central banker. He built the world's second-largest centralized crypto exchange, FTX, and controls trading firm Alameda Research. In 2022, Bankman-Fried, 30, tried to prop up the digital currency market by making nearly $1 billion in commitments to crypto firms amid the crash.
He offered a $400 million credit facility bailout to crypto lending platform BlockFi and $485 million of credit support to crypto broker Voyager Digital, which ultimately filed for bankruptcy. FTX is buying Voyager's assets. Bankman-Fried even took a 7.6% stake in Robinhood Markets. Much of FTX's revenue is generated with leveraged offerings that are off limits in the U.S., but Bankman-Fried has been pushing for industry-friendly crypto regulations in the U.S. and worldwide.
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