Sam Bankman-Fried

Sam Bankman-Fried, once a pivotal figure in the cryptocurrency industry, was convicted in November 2023 of committing fraud and conspiracy for stealing billions of dollars of money belonging to customers of his FTX crypto exchange, funneling the money to Alameda Research, his hedge fund. FTX had been one of the largest cryptocurrency exchanges before its demise, a major player in derivatives trading including perpetual futures. The company's undoing was spurred by a CoinDesk scoop in November 2022 showing Alameda's balance sheet was mysteriously full of the FTT token issued by FTX – calling into question both Alameda and FTX's financial stability. The Bahamas-based company filed for bankruptcy nine days after the story. Before his downfall, SBF (as the former billionaire is commonly known as) had been a leading figure in crypto, pushing for regulation of the industry in the U.S. He was a major political donor and the public face of effective altruism, a movement geared toward maximizing the amount of good done by philanthropy. SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering. His trial began in October 2023, and he was convicted on Nov. 2, 2023, a year to the day after the CoinDesk story that caused his crypto empire to crumble.

Videos

Sam Bankman-Fried's Cross-Examination Will be 'Brutal,' Lawyer Predicts

Sam Bankman-Fried will take the stand in his own defense, which could happen as soon as Thursday. Lowenstein Sandler LLP partner Rachel Maimin, who specializes in white-collar criminal defense, discusses what to expect from the FTX founder's testimony and whether previous tweets and interviews be used against him.

Oct 26, 2023

Policy

Sam Bankman-Fried's Jurors Were Sent Home for the Day, but His Debut on the Stand Was Significant Anyway

Even though jurors weren't there to hear the former crypto mogul, the ex-FTX CEO's first appearance on the witness stand was still remarkable.

By Nikhilesh De, Helene Braun, Elizabeth Napolitano, Sam KesslerOct 26, 2023

Despite claims by right-wing political figures, Sam Bankman-Fried was definitely not a free man when he (right) exited a Manhattan courtroom on July 26, 2023. (Nikhilesh De/CoinDesk)

Policy

Sam Bankman-Fried Testifies: What Will He Reveal Under Oath About FTX's Collapse?

Bankman-Fried will testify about FTX's collapse. But he's got a lot he'll need to push back on.

By Danny Nelson, Nikhilesh DeOct 26, 2023

Policy

Sam Bankman-Fried May Testify to Role of Lawyers, 'Good Faith' Efforts, Filing Says

Wednesday filings by Bankman-Fried's defense team and the DOJ hint at his possible defense arguments.

By Nikhilesh DeOct 26, 2023

Sam Bankman-Fried leaving court on Feb. 16, 2023 (Liz Napolitano/CoinDesk)

Videos

Sam Bankman-Fried Will Testify; Crypto Wallet Maker Ledger Officially Rolls Out 'Recover'

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, including FTX founder Sam Bankman-Fried deciding to testify in his criminal trial. Wallet maker Ledger's "Recover" option is now live, prompting new criticism from some unimpressed crypto users. Plus, crypto withdrawals on Binance are back online after a temporary outage.

Oct 25, 2023

Policy

Judge Denies Sam Bankman-Fried's Bid to Highlight 'Inconsistent Statements' by FTX Insiders Gary Wang, Nishad Singh

The duo testified at SBF's trial.

By Nikhilesh DeOct 25, 2023

Nishad Singh, left, exits a federal courthouse after testifying on Oct. 16, 2023 (Nikhilesh De/CoinDesk)

Policy

Sam Bankman-Fried to Testify at His Criminal Trial as Soon as Thursday

The FTX founder will directly appeal to jurors in his bid to prove he did not commit, or conspire to commit, fraud before his crypto juggernaut's spectacular collapse.

By Helene Braun, Nikhilesh DeOct 25, 2023

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Podcasts

SBF TRIAL Podcast 10/25: Sam Bankman-Fried's Defense May Depend on Character and Fact Witnesses

By CoinDeskOct 25, 2023

SBF TRIAL Podcast 11/03: Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial

Finance

Sam Bankman-Fried’s Defunct Exchange FTX Receives Multiple Bids for Restart

Options also include a sale of the exchange, which boasted 9 million users before going bankrupt.

By Shaurya MalwaOct 25, 2023

Close up of former FTX CEO Sam Bankman-Fried

Policy

Sam Bankman-Fried's Defense May Depend on Character and Fact Witnesses

The FTX founder will call six witnesses to kick off his defense, a filing said.

By Elizabeth Napolitano, Nikhilesh DeOct 25, 2023