Sam Bankman-Fried: FTX Fallout, Net Worth & Holdings

Sam Bankman-Fried: FTX Fallout, Net Worth & Holdings

Sam Bankman-Fried, commonly known as SBF, is a US entrepreneur who first started FTX, the major crypto exchange, as well as Alameda Research, a crypto trading business. The crypto emperor, SBF, saw his business implode in November 2022 in one of the biggest financial frauds ever seen in the U.S. SBF’s net worth of $26.5 billion in 2022 disappeared and turned to zero by 2025 following his criminal conviction and 25-year prison time. The article takes a deep dive into the collapse of FTX, SBF’s recent net worth, and his crypto holdings, using the latest updates and legal judgments.

The Fall of FTX and the Effects That Followed

In 2017, SBF started Alameda Research to take advantage of Bitcoin differences in price across platforms, and then in 2019, he founded FTX, which quickly became a major player in crypto derivatives trading at 10%, according to Forbes. By January 2022, FTX had a valuation of $32 billion, and SBF’s net worth was largely based on his 50% ownership and holdings of FTT tokens, going by Bloomberg. He became known as a ‘white knight’ after FTX helped bail out struggling crypto firms like Voyager Digital and BlockFi by offering $200 million and $250 million credit lines, according to Reuters.

Things started to go wrong on November 2, 2022, when CoinDesk found that Alameda’s balance sheet was mostly FTT tokens, worth $14.6 billion. This news brought worries about FTX’s ability to stay solvent, worsened by Binance CEO Changpeng Zhao’s tweet on November 6 that mentioned the sale of $529 million in FTT, per Wikipedia. When FTT’s price tanked by 72% in days, it caused a rush for $6 billion in customer withdrawals that FTX was unable to handle, according to Al Jazeera. On November 8, SBF revealed an agreement in principle with Binance, but Binance ended the talks after finding out FTX was short $8 billion, Bloomberg writes. On November 11, FTX, Alameda, and 130 affiliates filed for bankruptcy protection, and SBF stepped down, as Reuters reported.

SBF was arrested in the Bahamas on December 12, 2022, flown to the U.S., and faced accusations of wire fraud, securities fraud, money laundering, and conspiracy, according to CNN. In October 2023, at trial, SBF admitted using $8 billion from customers to recover Alameda’s losses and for personal things like donations and real estate, as reported by USA Today. Current and former FTX employees said SBF instructed Alameda’s operations, based on CoinDesk’s report. Reuters said SBF was convicted on all charges on November 2, 2023, and was handed a 25-year sentence and ordered to give up $11 billion, on March 28, 2024. In May 2025, SBF is still being detained at the Metropolitan Detention Center in Brooklyn and is appealing, as per Wikipedia.

Net Worth and Financial Ruin

Forbes measured SBF’s net worth at $26.5 billion in January 2022, which was largely due to his shares in FTX and his holdings of FTT tokens, valued at $11 billion. Emergent Fidelity Technologies owned $500 million in Robinhood shares on his behalf, CCN said. SBF’s net worth was worth just $991.5 million on November 8, 2022, meaning he lost 94%, according to CNN. Bloomberg later wrote that SBF’s money was gone and both FTX and Alameda were declared worthless after the bankruptcy. The US government confiscated $700 million, which included Robinhood stock, and his Bahamas real estate is now part of the bankruptcy mess, per CCN. SBF said in a 2022 New York Times interview that he had $100,000 left in his bank account, but Forbes later found it was $0 in 2024.

The value of his wealth relied on unpredictable FTT, which is why, per CoinGape, it could never be used easily. The staff at the FTX Future Fund, which committed $160 million in funding, resigned because of controversial practices, says CNN. SBF’s effective altruism contributions, including $5.2 million he gave to Joe Biden’s 2020 campaign, were brought into question by fraud allegations, as Crix11 reports. By 2025, the fact that so many lawsuits and restitution efforts are still taking place means SBF’s financial recovery seems impossible, according to ValueWalk.

Crypto Holdings and Investments

SBF put most of his crypto money into FTT, and its price fell from $22 to $2 in just a week, CoinGape reported. CoinDesk says Bitcoin and Ethereum holdings of his were likely involved in Alameda’s arbitrage, but they made up only a small part of his crypto portfolio, which was dominated by FTT. SBF had invested in Voyager Digital, BlockFi, and Robinhood, according to Bloomberg. Proprietary trading brought Alameda a $1 billion profit in 2021, but when its 2022 losses were driven by Terra-Luna, this resulted in FTX transferring customer funds without permission, according to ValueWalk. SBF’s portfolio received a major lift from the $70 million deal with Binance in 2019 and the $900 million investment from SoftBank and BlackRock in FTX in 2021, according to Forbes.

He mainly placed bets on derivatives, with FTX letting customers trade with token-based stocks like Apple, Forbes says. SBF steered clear of ideological crypto fever and focused on earning money instead, according to Entrepreneur. In the collapse’s aftermath, his investments were lost or taken, and there was no sign that any crypto assets could be salvaged, says CCN. According to a 2025 X post from @CelsiusFacts, it’s possible that some Celsius assets will never be found because of FTX’s complicated web of finances.

Influence and Controversies

SBF’s fame hit its height when FTX sponsored Miami’s arena and obtained Tom Brady’s endorsement, according to Entrepreneur. Showing up on Bloomberg and CNBC, as well as landing on the 2021 Forbes 30 Under 30, gave him a reputation as ‘the crypto J.P. Morgan,’ according to Bloomberg. In a 2022 Vox interview, he admitted that the push for crypto regulation was mostly a PR act, which hurt his appearance as an effective altruist, according to Wikipedia. Many posts on X, for example @CoinDesk’s 2024 sentencing update, gained more than 5,000 engagements, showing people’s fascination with the story.

Controversies defined his downfall. John Ray, FTX’s new CEO, called the $8 billion fraud ‘old-fashioned embezzlement,’ and this brought to mind the Enron scandal, according to Entrepreneur. SBF was directly named as a part of the conspiracy after Ellison’s testimony and the guilty pleas from Wang and Singh, per Al Jazeera. The way he conducted himself in the 2023 trial, along with the allegation of witness tampering, caused the court to revoke his bail, says Reuters. Hot takes on X mentioned @CesscaCanSing, who said he didn’t plead guilty, in comparison to other accused people who did cooperate, per the source.

FAQs

Q1: How much money does Sam Bankman-Fried have in 2025?

All of his assets were seized, so his net worth is $0 after the FTX collapse.

Q2: What caused FTX’s collapse?

When CoinDesk published a report on Alameda’s huge FTT holdings, it sparked a $6 billion withdrawal rush FTX ended up unable to handle.

Q3: What crypto did SBF hold?

His main investments included FTT tokens, along with a small amount of Bitcoin and Ethereum, but both have been seized or rendered worthless.

Q4: What was SBF convicted of?

SBF was found guilty of wire fraud, securities fraud, money laundering, and conspiracy.

Q5: Why is SBF controversial?

SBF’s $8 billion fraud, deceptive donations, and cynicism towards rules ended up destroying his reputation.

Final Thoughts

Sam Bankman-Fried’s fall at FTX warns about the dire effects of arrant ambition and excessive financial risk. His journey from having $26.5 billion to getting a 25-year sentence highlighted crypto’s flaws. The fact that his net worth is zero and his assets are seized proves that he has lost everything he built. As the crypto world moves on, SBF’s example is a reminder of the dangers, with major lessons for those involved in the industry and the authorities.