Bankman-Fried’s fortune has been split in half since March ending. Based on the Bloomberg Billionaire Index, he now has a net worth $11 billion, which was previously $22 billion. He believes the crypto market is not going down to zero, and would instead recover with stocks.
Sam Bankman-Fried Remains Bullish On Crypto
Bankman-Fried’s decision to hold his Cryptocurrencies are akin to that of Billionaire Elon Musk, who holds a variety of digital currencies including Bitcoin, and has refused to sell despite continuous market dip. Other institutional holders like Microstrategy’s Michael Saylor also uphold the same views.
Meanwhile, the billionaire’s Robinhood 7.6% share purchases from Thursday, has taken the Cryptocurrency market by storm.
After paying about $648.3 million for the purchase, Sam Bankman-Fried’s position was equivalent to $56 million shares of Robinhood (HOOD), the prominent online brokerage.
He made it clear that he had no intentions of carrying out any action that’ll change or influence the control of Robinhood. He pointed out that he simply saw Robinhood as an “attractive investment”.
FTX Exchange applies for New York Charter
On the other hand, the Billionaire FTX Crypto Exchange is also making moves, as it reportedly applied for a New York trust charter with the State’s Department of Financial Services.
A New York Charter would turn FTX into one of New York’s Limited Kiabikity Trust Company.
If FTX is approved, the company’s US based affiliate will be able to offer its crypto trading services to an established New York client base. Additionally, its services would not be limited to this place alone, but to many other states without the pressure of applying for additional licenses.
The valuation of FTX.US has climbed to $8 billion following the successful closing of Series A funding. With the banking charter, FTX.US would make headlines again, as a sub custody service provider to financial institutions.
- Verse Metaverse – LA Villa Hand Over On May 30
- Bitcoin (BTC) Faces A Crash To 2020 Lows, Here’s Why
- On-Chain Data: Bitcoin (BTC) Always Pegs Higher Trust Over Ether (ETH) in Bear Market
- Is Terra’s Singapore Office A “Paper Company?”
- Bitcoin (BTC) Options Market Hints Major Downside Risks Over Next 3-6 Months
- Bitcoin (BTC) Fails to Hold $30,000 Again, Guggenheim CIO Predicts A Crash to $8000
- Hard Fork Vs Genesis Chain: Terra Team Clears Air Around Debate
- Prominent Investment Officer Predicts More Downside For Bitcoin Price, Here’s Why
- Investors Move $141 Million Out Of Crypto: CoinShares Report
- Just In: S. Korea Police Seek To Guard LUNA Assets
- AAVE Price Analysis: AAVE Chart Hints Coin Holders May Lose $100 Mark
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token