If you've been keeping up with the world of cryptocurrency, then you have been hearing the name Sam Bankman-Fried pop up lately. He is the CEO of cryptocurrency exchange FTX and is known for some unorthodox business methods, like playing League of Legends during major meetings. Now, as his company comes crashing down, reports are claiming that Bankman-Fried wasn’t even that good at League of Legends…ouch!
Under Bankman-Fried, FTX rose to prominent status in the world of crypto. Just last year, the company signed a $210 million ten-year naming rights deal with esports organization TSM. Many attributed FTX’s success to its innovative fee system and Bankman-Fried’s League-playing leadership. However, in the past few weeks, the crypto company has struggled financially and ultimately filed for bankruptcy, leaving investors and the public wondering what will happen next.
Before the financial collapse of FTX, it made headlines when Bankman-Fried took meetings with capital firms, like Sequoia Capital, and proceeded to play League of Legends during them. Of course, nobody saw this as a potential red flag as the firms continued to invest large sums of money into FTX. I am no investing genius, but I don’t think the CEO of the company asking for $200 million should be playing on their phone in the meeting.
Now, a new report is claiming that Bankman-Fried wasn’t even that good at League of Legends. An investigation conducted by the Financial Times (via Kotaku) claims that the tech wiz played over 1,000 matches without ever leaving Bronze Tier III. If you are going to play League during important meetings, you should probably be better than that.
It is hard to tell what the future holds for FTX or Bankman-Fried, who has gone radio silent since news of the bankruptcy broke. However, one thing is clear; wherever Bankman-Fried ends up he will likely be playing League of Legends – not professionally though.
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