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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Video's

The SBF Trial Remains 'Top of Mind' for Regulators, Congress: Legal Expert

For CoinDesk's State of Crypto Week, presented by Chainalysis, Daniel Davis, former CFTC general counsel and a current partner at Katten Muchin Rosenman LLP, discusses how FTX founder Sam Bankman-Fried's trial and the crypto exchange's bankruptcy proceedings could shape future crypto regulation in the U.S. Plus, his thoughts on whether ether (ETH) could be classified as a commodity.

16 okt 2023

Video's

Sam Bankman-Fried's Defense Strategy Is That He's an 'Idiot,' Attorney Says

Tully & Weiss criminal defense attorney Joseph Tully shares his thoughts on Sam Bankman-Fried's defense strategy and explains why he believes things "aren't going too well" for the defense team in this case. Plus, whether Bankman-Fried's lawyers could possibly pin the blame on former Alameda Research CEO Caroline Ellison for FTX's implosion.

16 okt 2023

Video's

The SBF Trial: Upcoming Witnesses Include Ex-FTX Exec Nishad Singh

Week three of FTX founder Sam Bankman-Fried's trial is kicking off. Prosecutors have indicated jurors will soon hear from FTX co-founder Nishad Singh. Tully & Weiss criminal defense attorney Joseph Tully discusses what to make of the defense's strategy and how the remainder of the legal proceedings could play out.

16 okt 2023

Beleid

Former Top FTX Executive Testifies He Knew $8B of Customer Money Was Missing

Nishad Singh, the latest member of Sam Bankman-Fried’s inner circle to testify, said his admiration for SBF turned to “shame” on discovering FTX execs enriched themselves with customer funds.

Door Sam Kessler, Elizabeth Napolitano, Nikhilesh De16 okt 2023

Nishad Singh, left, exits a federal courthouse after testifying on Oct. 16, 2023 (Nikhilesh De/CoinDesk)

Beleid

SBF Trial: What Did FTX’s Terms of Service Say About Customer Funds?

Sam Bankman Fried’s lawyers say FTX didn’t misuse customer funds under its terms of service. We dug into the agreement to see exactly what it says.

Door Nikhilesh De16 okt 2023

Beleid

Sam Bankman-Fried May Testify at Trial, Defense Says. First, He Needs His ADHD Meds

The defense team is nearing crunch time.

Door Danny Nelson16 okt 2023

FTX's Sam Bankman-Fried exiting a federal courthouse in New York last year. (Nikhilesh De/CoinDesk)

Consensus Magazine

Everything to Know About Sam Bankman-Fried’s Second Week in Court

CoinDesk combed through trial documents, transcripts and reports for highlights about Caroline Ellison’s testimony, updates on FTX’s $400 million hack and more.

Door Daniel Kuhn13 okt 2023

Podcasts

How Heated Sidebars During the SBF Trial Could Impact the Jury’s Decision

Door Laura Shin13 okt 2023

Jeremy Allaire on Circle's ‘Multi-Decade’ Strategy and Where Stablecoin Regulation Is Headed

Beleid

SBF Trial: Crypto Lender BlockFi Believed Alameda Was Solvent Given Balance Sheet It Was Shown, CEO Testifies

BlockFi lost “a little over a billion dollars” due to its involvement with FTX and Alameda Research, Zac Prince said.

Door Helene Braun, Nikhilesh De13 okt 2023

BlockFi CEO Zac Prince (right) (Danny Nelson/CoinDesk)

Podcasts

SBF TRIAL PODCAST 10/13: Listen to the Things SBF's Defense Lawyers Should Be Freaking Out About and Caroline Ellison Completes Testimony

Door CoinDesk13 okt 2023

SBF TRIAL Podcast 11/03: Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial