FTX, which was one of the major crypto exchanges in the world, filed for bankruptcy on 11th of November. FTX was valued around $32 Billion at its peak and it saw the fastest growth ever as a cryptocurrency exchange.

The company’s founder and CEO, Sam Bankman-Fried, who often goes by SBF, stepped down as CEO and between this time frame of 5 days, Bloomberg estimates that his net worth has been completely wiped out and they name it as one of history’s greatest ever destructions of wealth.

The downfall of Bankman’s crypto empire, which filed for bankruptcy on Friday, along with his resignation signifies that the assets he once owned have become completely worthless. During FTX’s peak, the 30-year-old CEO was worth as much as $26 Billion, and still had $16 Billion left at the start of the week, but had lost it all by the end of it.

Bankman owned more than 70% of the crypto exchange, which was at times, one of the fastest-growing exchanges in the world. But now worthless.