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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Another Bad Week for Sam Bankman-Fried in His Criminal Trial
Sam Bankman-Fried is facing an even more difficult task in proving his innocence after this week’s compelling testimony by the last member of his inner circle. Sam Enzer, a partner at the law firm Cahill Gordon & Reindel, told Laura Shin that compelling evidence from Sam Bankman-Fried’s inner circle had increased the difficulty for the fallen FTX CEO to convince a jury of his innocence.
Why These Lawyers Say It's Over for SBF -- But His Only Hail Mary Is to Testify
Attorneys Samson Enzer and Greg Strong say Caroline Ellison’s testimony against Sam Bankman-Fried was damning. They agree one thing could turn it around: SBF’s own testimony. However, that runs the risk of increasing his sentence.
The Sam Bankman-Fried Trial: It’s the Courthouse Life for Us
To get a courtroom seat, you gotta show up early: at least 7:30 a.m. The overflow room is more relaxed, but there’s no Sam, just his televised image.
The SBF Trial Week 3: FTX's Top Lawyer Testifies, The Judge Loses Patience
"CoinDesk Daily" host Jennifer Sanasie breaks down the highlights from FTX founder Sam Bankman-Fried's trial this week, including testimony from former FTX engineering chief, Nishad Singh and former FTX general counsel Can Sun about missing customer funds. Plus, the judge scolds both the defense and the prosecution. The trial is on break until October 26th.
Inside the Courtroom of Sam Bankman-Fried’s Trial
FTX founder Sam Bankman-Fried's trial is on pause until next week, when prosecutors say they plan to rest their case on Oct. 26. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De, along with CoinDesk Regulatory Reporter Liz Napolitano, who were in the courtroom, share insights into the latest legal developments and the key takeaways.
The Sam Bankman-Fried Trial: Our Favorite Quotes, So Far
"I don't understand the cryptocurrency,” and other bangers uttered in the courtroom.
Sam Bankman-Fried's Lawyers, DOJ Propose Final Sets of Jury Instructions
The parties to the criminal fraud trial expect to wrap up witness testimony in the coming weeks.
