This 29-year-old man made big profits from Cryptocurrency investments

CEO FTX , Sam Bankman Fried , listed in the United States of America 400 Forbes and officially became the youngest person on the list.

 

The 29-year-old was previously famous for amassing a fortune of US$22.5 billion or equivalent to Rp319 trillion thanks to the rapid growth of FTX, the crypto exchange he founded two years ago and from his own crypto investments.

 

Thanks to this achievement, Sam is now juxtaposed with the owner of Facebook, Mark Zuckerberg, one of the young people with fantastic wealth.

 

“My goal is how my achievements have a social impact,” said Sam about his goal of founding FTX.

 

Launching from Blockchainmedia, Sam's wealth comes largely from his crypto exchange, which allows traders to buy and sell digital assets such as Bitcoin (BTC) and Ether (ETH).

 

In addition, FTX also caters to derivatives trading who wish to buy assets such as Bitcoin options and allows users to trade stock tokens.

 

The exchange has also successfully raised US$900 million in funding from Coinbase Ventures and SoftBank in July 2021 at a valuation of US$18 billion.

 

Separately, his trading company, Alameda Research, also posted a $1 billion profit last year.

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