All the money in the world won’t help you get out of the lower ranks of League of Legends, and to prove it, we have the likes of a once-quite-rich individual named Sam Bankman-Fried, who has been all across the headlines this week.
Bankman-Fried founded crypto exchange FTX. Everything was looking up for FTX as, only last week, the company was valued at $32 billion. Now it’s filed for bankruptcy.
Reports suggest he’s definitely someone you wouldn’t want in your boardroom and someone you wouldn’t want in your League squad.
He was a bot in and out of the server, as Bankman-Fried was infamous for playing League during meetings and he was also notoriously bad at it.
The esports organization, TSM, regularly featured FTX in its branding. The org signed a $210 million contract with the crypto exchange which was supposed to last 10 years. FTX filed for bankruptcy only a year after the contract was signed.
TSM says it stands “stable and profitable,” despite FTX’s colossal mismanagement.
Bankman-Fried reportedly played League during meetings with venture capital firm Sequoia Captial.
Believe it or not, this Dot Esports writer isn’t as experienced in multimillion-dollar deals as you might think, but surely, this would probably stop the deal in its tracks. In the tech world, however, that would be ridiculous—the move didn’t deter Sequoia from offering over $200 million in funding to FTX in the slightest.
According to the Financial Times, Bankman-Fried played over 1,000 matches of League of Legends, but only reached Bronze’s second tier throughout his playtime.
No one is sure where the money went, but things aren’t going well for the bronze bot. $600 million has reportedly been drained overnight as FTX believes it may have been hacked, and Bankman-Fried is now also being investigated by U.S prosecutors due to this whole ordeal.
You heard it here first, you’re allowed to play League during meetings, and your managers and editors will just have to cop it—but you better start climbing faster!
