.

In November 2022, Sam Bankman-Fried, a young entrepreneur once known as the "King of Cryptocurrency," experienced a dramatic turn from peak to trough in just eight days. His company FTX declared bankruptcy, he resigned as president, and may face an investigation by U.S. federal authorities to examine how he handled corporate assets.
The rise: From student dorm to billionaire
Born into an academic family, Bankman-Fried graduated from the Massachusetts Institute of Technology (MIT) with a major in physics and mathematics. During his student years, he was exposed to the concept of "effective altruism" and developed the goal of improving the world by making huge wealth.