$15.6 Billion Man and FTX CEO Lands in Troubled Waters Over Massive League of Legends Controversy

Can you believe the FTX CEO is a massive League Of Legends fanatic? Well, to help you understand the whole story, we have to take you back in time. It all started when Sam Bankman, the FTX CEO, started the company with a vision. The 30-year-old made news in a few mere years, inviting thousands of users to invest in this space. And looking at his vision, the company’s success, and the whole concept overall, people opted in. 

This paved the way for the franchise to mint millions with their user base while churning revenue from their own coin. But as days passed, people found that FTX owned over $14.6 billion of FTT, a coin made by the company. The news broke like wildfire, as it wasn’t a good sign. Still, Sam convinced multiple investors, showing them a positive picture of the future. 

Sam’s ideas lasted for a time until the ship had finally sailed. Multiple investors complained about the CEO’s casual behavior as he spent time playing video games during important meetings. A capital group reminisced about the time they had $200 million on the line, with Sam having half his attention in League Of Legends. 

Investors call out FTX CEO for casually playing League Of Legends during important business deals

We all love video games. Still, we try avoiding them during work hours, devoting our focus to important things. But some people in this world feel they can multi-task, leading to doing two things at the same time. FTX CEO Sam Bankman can be the best example of this as he played League Of Legends during work hours.

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Despite Sam bringing multiple billion-dollar partnerships and investments, investors had a faint worry in their minds. After all, nothing in this world can be perfect. It is just time that shows its true colors. 

A few months back, GameStop announced its partnership with FTX, which paved way for investors to walk into this space. They were keen on learning about it, per se, investing enough for their future. However, that was just the bottom of it, as it lured anchor companies like Sequoia Captial toward the franchise. 

Sequoia immediately went on a call with Sam to discuss things about the company’s future. They were ready to pay $200 million for his super-app, thinking it would turn out to be their best investment. And while it worked well for months, the deal finally surfed through high waves after the recent controversy. 

Coindesk reported the value of FTT to be $4 compared to what FTX had bought at $70, resulting in a 95% loss. This is when Sequoia remembered Sam playing League of Legends during the deal. “And it turns out that that fuc**r was playing League of Legends through the entire meeting,”  a partner said. 

Back then, it did not matter much, but now, with the massive controversy, it looks like the start of another one. 

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