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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.

Patakaran

Here’s How FTX Founder Sam Bankman-Fried’s Trial May Play Out

Prosecutors will need a jury to reach a unanimous verdict to convict the FTX founder.

Ni Nikhilesh DeSet 21, 2023

Merkado

Bitcoin’s 87% Drop in 2021 Was Caused by Sam Bankman-Fried's Alameda, Ex-Employee Claims

An ex-Alameda employee claims a trader at the firm punched in a wrong decimal which led to bitcoin's 87% drop on Binance.US in 2021.

Ni Shaurya MalwaSet 21, 2023

El fundador de FTX, Sam Bankman-Fried, vuelve a comparecer ante el tribunal en las Bahamas. (Joe Raedle/Getty Images)

Opinyon

The Sam Bankman-Fried Trial Is a Family Affair

For “SBF Trial,” read Sam, Bankman and Fried. As prosecutors attempt to claw back “misappropriated funds” from FTX, they say SBF’s parents, Joseph Bankman and Barbara Fried, played a key role in siphoning off assets and directing operations.

Ni Benjamin SchillerSet 20, 2023

Sam Bankman-Fried, right, and his parents, Joe Bankman and Barbara Fried (Victor Chen/CoinDesk)

Mga video

Sam Bankman-Fried’s Dad Has Alleged Dispute Over $200K FTX Salary; Crypto Markets Await Key Fed Decision

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, as some crypto traders say low volatility will likely continue after Wednesday's Federal Reserve rate decision. Stanford University will reportedly return "gifts" it received from FTX. Court filings reveal alleged interactions between FTX founder Sam Bankman-Fried and his parents. And, a look at South Korean's digital asset holdings abroad.

Set 20, 2023

Patakaran

Sam Bankman-Fried’s Empire Was Crushed by This Infamous Balance Sheet. Here’s More of the Story

An Alameda balance sheet revealed just how fraught FTX’s situation was.

Ni Danny Nelson, Nick BakerSet 20, 2023

Mga video

Zeke Faux's Crypto Adventures and His Relationship With Former FTX CEO SBF

Should Sam Bankman-Fried have just performed a rug pull? Why is it so hard to get details into USDT issuer Tether? Zeke Faux, author of 'Number Go Up,' shares his findings after making a deep dive into the world of crypto.

Set 20, 2023

Patakaran

Stanford University Will Return 'Gifts' Donated by FTX: Report

FTX sued Joseph Bankman and Barbara Fried for misappropriating millions, including $5.5 million in donations to Stanford University.

Ni Amitoj SinghSet 20, 2023

Patakaran

Sam Bankman-Fried’s Dad Thought His Son Wasn’t Paying Him Enough, So He Got Mom Involved

The alleged dispute over Joe Bankman’s $200,000 FTX salary versus his desired $1 million points to an unusual family dynamic at the former cryptocurrency colossus.

Ni Nick BakerSet 19, 2023

Mga video

Sam Bankman-Fried's Lawyers Push for FTX Founder's Jail Release Again; Crypto Coin Listing Crack Down

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines after bitcoin (BTC) hits $27,000 for the first time in two weeks. Sam Bankman-Fried's lawyers are gearing up to push for the FTX founder's release from jail again. U.S. banking giant Citigroup starts a tokenization service for institutional clients. And, crypto coin listings could face tougher rules in New York.

Set 19, 2023

Mga video

FTX Bankruptcy Estate Sues Sam Bankman-Fried's Parents to Retrieve 'Misappropriated Funds'

Bankrupt crypto exchange FTX has sued founder and former CEO Sam Bankman-Fried's parents, Joseph Bankman and Barbara Fried over "misappropriated funds," according to the company's court filing on Monday. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the allegations mentioned in the lawsuit.

Set 19, 2023