Crypto Platform FTX’s Implosion Hits Democrats’ 2nd Biggest Individual Donor

Sam Bankman-Fried speaks on stage at Casa Cipriani in New York on June 23, 2022. Craig Barritt/Getty Images for CARE For Special Children

The net worth of the founder of the crypto exchange FTX and Democrat megadonor Sam Bankman-Fried plummeted last week in what on the Bloomberg Billionaires Index was its biggest single-day wealth plunge for a billionaire.

FTX filed for bankruptcy protection on Nov. 11 after facing a massive liquidity crunch, in which users rushed to pull out their money.