Sam Bankman-Fried Scrambles for $9.4 Billion to Save FTX: What Happened?

The cryptocurrency world was rocked on November 10, 2025, as FTX, the cryptocurrency exchange founded by Samuel Benjamin Bankman-Fried (SBF), faced a liquidity crisis. Reports indicated that Sam Bankman-Fried was urgently seeking to raise approximately $9.4 billion from investors and rivals in a desperate attempt to save the company.

Sources revealed that FTX is scrambling to raise about $9.4 billion from investors and rivals. The 30-year-old billionaire's cryptocurrency exchange was struggling to stay afloat as customers rushed to withdraw funds. Sam Bankman-Fried, CEO of FTX, was reportedly in talks with various potential investors to secure the necessary funds.

The situation was further complicated by reports that Sam Bankman-Fried previously transferred at least $4 billion in FTX funds to support Alameda, including user deposits, according to Reuters. This revelation raised serious concerns about the management of FTX's finances.

Despite his efforts, Samuel Benjamin Bankman-Fried was later convicted of fraud and related crimes in November 2025, marking a significant fall from grace for the once-prominent entrepreneur. The attempted rescue package of up to US$9.4 billion ultimately proved unsuccessful.

While seeking capital, including discussions about raising $1 billion (roughly Rs.), Bankman-Fried's actions and the subsequent collapse of FTX have had a ripple effect throughout the cryptocurrency industry. The events surrounding FTX serve as a stark reminder of the risks involved in the volatile world of digital assets.