When it comes to legendary figures in the crypto world, one cannot overlook Sam Bankman-Fried (SBF). Born in 1992, this prodigious young man is the son of law professors from prestigious universities. He graduated from MIT, majoring in physics with a minor in mathematics.

In just five years, starting from founding Alameda Research in 2017, he skyrocketed into the top 60 of Forbes' global billionaires list, with a peak net worth of $26.5 billion. Alameda was once one of the largest hedge funds in the crypto space, with assets exceeding $14.6 billion; the FTX he later founded became the second-largest centralized exchange globally, with daily trading volume soaring to $14 billion.

However, the speed at which this empire collapsed was beyond imagination. By November 2022, SBF had to file for bankruptcy protection for Alameda, FTX, and over 130 affiliated entities. On the same day, his name was removed from the Bloomberg Billionaires Index, and his net worth plummeted from $15.6 billion to just $1 billion—taking less than a week from peak to bottom.

What secrets lie behind this astonishing fall? How did a mathematical genius gradually descend into the abyss? This story is worth deep reflection for everyone involved in the crypto market.