Sam Bankman-Fried, the Young Billionaire Who Wants to Save Crypto

He is only 30 years old, but Sam Bankman-Fried has become the savior the struggling crypto industry needs to avoid a complete shipwreck.

Bankman-Fried, known in crypto circles by the initials SBF, seems to have taken on this persona without hesitation. He is everywhere. It is difficult to talk about a struggling crypto firm without his name appearing as the potential savior to prevent things from going downhill.

Within days, SBF managed to avoid a rout with disastrous consequences for retail investors and the aggravation of an already exacerbated crisis of confidence. Bitcoin, the most popular cryptocurrency, is down 71% since its all-time high in November. Ether, the second-largest digital currency, has lost 77.2% of its value since November. The cryptocurrency market overall has lost over $2.1 trillion in less than eight months.

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