The cryptocurrency market has a single representative on Time Magazine’s 2022 list of the 100 most influential people. This is Sam Bankman-Fried (SBF), CEO of digital asset derivatives exchange FTX. He was named one of the 100 Most Influential People of 2022 included in the “Titans” category.
According to Time, over the past two years, SBF has had a significant impact “on the dominance of cryptocurrencies in mainstream culture.”
“Few have had a greater impact on the rise of cryptocurrency in mainstream culture over the past two years than Sam Bankman-Fried. The 30-year-old founder of the FTX exchange platform has become one of the main public faces of cryptocurrencies. He used every imaginable tool to convince the public of his strengths.
Sam Bankman-Fried on TIME’s 100 Most Influential People of 2022
Time magazine correspondent Andrew Chow, who wrote the text for SBF, also highlighted the executive’s recent achievements. Like, for example, the fact that the CEO of FTX hired Larry David for a Super Bowl commercial.
Additionally, the exchange has entered into a contract to rename the Miami Heat arena. In April 2021, the NBA team signed a $135 million partnership with FTX. The deal included changing the name of the club’s headquarters to Arena FTX Arena for the next 19 years.
“Bankman-Fried is working to reshape the way the world views cryptocurrencies. That’s because he believes in its transformative power for good. As an effective altruist, Bankman-Fried believes that cryptocurrencies can help democratize financial markets and reduce poverty and corruption,” added Chow.
The text further states that the CEO of FTX puts his money where he truly believes. Meanwhile, other cryptocurrency experts “show off their Lamborghinis and yachts”.
As the text highlights, SBF is a person of little luxury, despite being a billionaire in the crypto market. He usually sleeps on a beanbag in his office. In addition, he has already promised that he will give 99% of the money earned from his earnings to philanthropic causes.
“In a cryptocurrency landscape rife with scams, hedonism and greed, Bankman-Fried offers a gentler and more impactful vision brought by nascent technology.”
In addition to being on Time’s list of the 100 most influential, SBF was also on Forbes’ list of billionaires. Released in April of this year, the list disclosed that the CEO of FTX has a net worth of $24 billion.
As Forbes reported, SBF moved from Hong Kong to the more crypto-friendly Bahamas in late 2021, taking its FTX exchange valued at $32 billion.
SBF owns about half of FTX and over $7 billion in FTT, the platform’s native token.