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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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’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.
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.
Sam Bankman-Fried Defense Has 6 Witnesses to Open With: DOJ
The DOJ filing did not name any of the potential defense witnesses, and it's still unclear whether Bankman-Fried himself will testify.
Bitcoin Hits 17-Month High Amid Spot Bitcoin ETF Hype; Sam Bankman-Fried's Defense Plans
"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, after bitcoin (BTC) briefly pushed past $35,000 toward the end of the U.S. trading day on Monday. CFTC Commissioner Summer Mersinger weighs in on what this spike in institutional interest means during CoinDesk's State of Crypto 2023 event in Washington, D.C. And, an update on Sam Bankman-Fried's criminal trial.
The Sam Bankman-Fried Trial: One Expert Witness
Bankman-Fried's defense team has revealed its sole proposed expert witness, who’ll try to point out flaws in the DOJ’s presentations.
Sam Bankman-Fried Proposes Financial Expert as Witness to Rebut DOJ Testimony
The defense intends to call Joseph Pimbley, a financial services expert and consultant, to testify about FTX's and Alameda's financials.
FTX Creditors' Lawyers Promote Deal Giving Investors 90% of What's Left in SBF's Empire
Lawyers for non-U.S. creditors of FTX are arguing that they've got a great deal in the exchange's bankruptcy, giving those who had funds in FTX.com 90% of the liquidation.