If the allegations of criminal activity are true, he will very likely end up in prison.
Obviously it will take time for investigations to gather evidence, prosecutors to file charges, etc. These are still very recent events. Just be patient!
Obviously it will take time for investigations to gather evidence, prosecutors to file charges, etc. These are still very recent events. Just be patient!
2) To obfuscate this slightly, they lent "$10bn" of tokens to Alameda Research, which was a "hedge fund" run by his girlfriend on the exchange
3) Alameda made huge trading losses, as often happens to novice traders. A Nick Leeson event.
4) Changpeng Zhao of Binance noticed there was a problem: https://fortune.com/2022/11/07/crypto-billionaires-cz-binanc...
5) This triggered a "bank run" on FTX
6) FTX are now insolvent: https://twitter.com/SBF_FTX/status/1591089317300293636
7) That was the last we heard from SBF. There are now reports that the exchange has been "hacked" and coins stolen. It is not yet clear by whom, or where SBF is.