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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Sam Bankman-Fried Taking the Stand Was a 'Huge Mistake,' Lawyer Says
Sam Bankman-Fried is set to face a cross-examination by federal prosecutors Monday, after doubling down on the narrative that FTX failed due to mistakes. Hodder Law Firm founder Sasha Hodder discusses her take on the latest legal proceedings around the FTX founder's criminal trial and the implications for the U.S. regulatory landscape.
Sam Bankman-Fried Grilled by Prosecutor, Who Points Out Contradictions in His Testimony
Assistant U.S. Attorney Danielle Sassoon repeatedly cornered the FTX founder on his public statements about his involvement with his affiliated trading firm Alameda and the safety of exchange customer assets.
Sam Bankman-Fried Implied His Friends Lied About His Role in FTX's Collapse
Bankman-Fried's testimony before a jury contradicts prosecutors' key witnesses in subtle ways.
Sam Bankman-Fried Rebuffed Barry Silbert's and Celsius' Requests for Help, Ex-FTX CEO Testifies at His Trial
The crypto mogul served as a white knight for other struggling companies, though, before his empire fell, too.
Sam Bankman-Fried Started Buying Solana's SOL at 20 Cents Using 'Alameda Profits,' He Says at His Trial
"I believed the funds came from Alameda’s operating profits" as well as third-party lenders, he testified Friday at his fraud and conspiracy trial.
Sam Bankman-Fried Says He Made 'Mistakes' at FTX; Binance CEO CZ's Fortune Revealed
"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, including Sam Bankman-Fried's testimony as he takes the stand in front of jurors during his criminal trial. Bloomberg reports on the change in Binance founder CZ's net worth during crypto winter. Plus, users of the hi debit Mastercard can now spend Metaverse platform Sandbox’s SAND token in eligible markets.
Sam Bankman-Fried Testifying Without a Jury Is 'Very Surprising,' Lawyer Says
Bryan Cave Leighton Paisner LLP partner Renato Mariotti explains why it is "very surprising" for Sam Bankman-Fried to testify in front the judge without the presence of the jury. "I think the reason the judge did it...is SBF constantly talking about lawyers."
Prosecutors Have a Collection of Sam Bankman-Fried's 'Greatest Hits,' Lawyer Says
Sam Bankman-Fried's testimony began on Thursday without the jury present. Bryan Cave Leighton Paisner LLP partner Renato Mariotti discusses the latest developments surrounding the criminal trial as the FTX founder is expected to take the stand again Friday. "SBF basically told the world everything on his mind regarding this case...prosecutors essentially have a collection of his greatest hits," Mariotti said.
Sam Bankman-Fried Throws Caroline Ellison Under Bus in Testimony
The former FTX mogul said he asked Alameda Research, the trading firm that played a central role in the exchange’s demise and was run by his former girlfriend, to hedge risks.