Mark Zuckerberg, Tom Brady, Gisele Lose Billions i
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Posted On: 11/13/2022 8:34:32 PM
Re: energy_wave #95361
Mark Zuckerberg, Tom Brady, Gisele Lose Billions in FTX Crypto Exchange Collapse
Something tells me those tent cities in the Bay Area are going to be getting a lot bigger.
https://sfstandard.com/business/mark-zuckerbe...-collapse/
Something tells me those tent cities in the Bay Area are going to be getting a lot bigger.
Quote:
A cryptocurrency exchange crash has wiped out almost $2 billion in investor cash, affecting high profile celebrities, pension funds and lesser-known Bay Area billionaires.
The FTX exchange ensnared many prominent investors and individuals before it crashed Tuesday.
FTX counted celebrities such as NFL star Tom Brady and ex-wife Gisele Bundchen as investors, PitchBook data shows. They also had San Francisco-based Iconiq Capital, which manages money for Mark Zuckerberg and Jack Dorsey on their books—not to mention all of the consumers whose deposits are currently unavailable for withdrawal. Other big losers include the Canadian Ontario teachers’ pension fund, which invested $95 million.
The firm was founded by Bay Area native Sam Bankman-Fried in 2019 and based in the Bahamas.
High-profile investors are already writing off their entire investments. Sequoia Capital, who had invested over $200 million at valuations between $18 billion and 25 billion, tweeted it was assuming the investment was now worthless.
In its latest funding round completed in January 2022, FTX was valued at over $32 billion, and Bankman-Fried’s net worth was said to be $26 billion.
https://sfstandard.com/business/mark-zuckerbe...-collapse/
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