Sam Bankman-Fried Caught in Losing $100M at Online Casinos

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Cryptocurrency is a huge business that might show unpredictable outcomes. It seems like those people who are deeply bogged down in this industry are used to risk. And Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX, is not an exception. The ex-CEO was caught in crypto casino gambling with very poor results. Find more news on the GBC Time website.

Sam Bankman-Fried is a well-known persona in the cryptocurrency world. His contribution to the global industry was one of the biggest crypto exchange platforms – FTX. An anonymous source reported that the ex-CEO of FTX has found a new passion related to the cryptocurrency of course. Crypto casino gaming was added to Bankman-Fried’s hobby list right after his Alameda Research fund lost massive amounts of money due to the Terra/Luna collapse.

According to the source close to SBF, his hobby of playing blackjack at high stakes is a discovery for the close circle of the businessman. A friend of his is sure that Sam Bankman-Fried was trying to recover the fund’s money with gambling. However, at this time lack was definitely not on SBF’s side.

Talking about the online casinos SBF was playing at, it was mostly Stake, LTC Casino, and Bitcasino. The total rumored sum of the businessman's loss is over $100 million in Ethereum and USDT. It is also important to mention that a limited number of Bahamas executives accessed Alameda and FTX wallets.


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