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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Finance

Robinhood Board Authorizes Purchase of Shares Bought by FTX’s Sam Bankman-Fried, Gary Wang

The online brokerage firm is planning to buy most or all of the 55 million shares previously owned by holding company Emergent Fidelity Technologies.

By Nelson WangFeb 8, 2023

Videos

FTX Bankruptcy Judge Allows Company to Subpoena Bankman-Fried; Craig Wright Loses Bitcoin Copyright Claim in UK Court

U.S. Judge John Dorsey ordered that FTX's new leadership and its official creditor committee can subpoena the crypto exchange's founders and former executives, including Sam Bankman-Fried. Plus, the file format of the Bitcoin blockchain can’t be protected by copyright, a U.K. judge has found, ruling against self-proclaimed inventor Craig Wright.

Feb 8, 2023

Policy

FTX Bankruptcy Judge Allows Company to Subpoena Founder Bankman-Fried, Other 'Insiders'

FTX's new leadership asked for the subpoenas last month.

By Nikhilesh DeFeb 8, 2023

Extradición a Estados Unidos del fundador de FTX, Sam Bankman-Fried, desde las Bahamas. (Real Fuerza de Policía de Bahamas)

Videos

Sam Bankman-Fried Trial Developments; Report Says Ordinals Protocol Triggered Revival in Bitcoin Development

A federal judge rejected a joint request to modify Sam Bankman-Fried's bail conditions to allow him to use certain messaging tools. Separately, research firm FSInsight said in a recent report that the Ordinals protocol has triggered a revival of interest in bitcoin (BTC) development and has led to an increase in average block size as more users join the network.

Feb 7, 2023

Policy

Sam Bankman-Fried Appeals Judge’s Decision to Reveal Names of His $250M Bond Backers

Judge Lewis Kaplan ruled early last week that the two currently unidentified people who co-signed the bond could be made public.

By Nelson WangFeb 7, 2023

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton, modified by CoinDesk)

Videos

Sam Bankman-Fried's Bail Modification Request Rejected by Judge

U.S. District Judge Lewis Kaplan of the Southern District of New York rejected a joint request to modify former FTX CEO Sam Bankman-Fried's bail conditions to allow him to use certain messaging tools. The motion is "denied without prejudice" until a hearing on Thursday. "The Hash" panel discusses the latest developments.

Feb 7, 2023

Policy