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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Gary Wang, Caroline Ellison: Looking at Day 5 of Sam Bankman-Fried's Trial
Gary Wang will complete his testimony today and Caroline Ellison, a key witness, will begin presenting her view.
Bankman-Fried Seeks to Probe Lawyers’ Involvement in $200M ‘Sham’ Alameda Loans
The defendant in a multi-billion fraud trial is pressing to blame legal advice, despite judicial reluctance to let him.
Bankman-Fried's FTX Could Have Lost Over $1B Due to Lax Security Practices: Report
Attackers were able to steal nearly $400 million worth of various tokens after FTX was hacked in November 2022. But it could have been worse.
What to Expect When Caroline Ellison Takes Stand in Sam Bankman-Fried's Trial
The former Alameda CEO will “tell you about how she and the defendant stole money customers entrusted to FTX,” a prosecutor said. Defense’s cross-examination may get personal.
Anthony Scaramucci Says He's Not Testifying at SBF Trial; Markets React After Hamas Attack on Israel
"CoinDesk Daily" breaks down the biggest crypto headlines today, including how markets are reacting to escalating violence in the Middle East. SkyBridge Capital founder and managing partner Anthony Scaramucci clarifies if he will testify in Sam Bankman-Fried's criminal trial as legal proceedings enter the second week. And, traders react to a wallet apparently belonging to the Ethereum Foundation that sold a portion of its allocated tokens.
Crypto Risks Another Sam Bankman-Fried if U.S. Doesn't Provide Clear Regulation
Sheila Warren, CEO of the Crypto Council for Innovation, looks at regulatory advancements around the world, which disincentive bad behavior and create a path to accountability.
The DOJ Has Come Out Swinging in the Sam Bankman-Fried Trial
Alameda owed FTX $11 billion it didn’t have.
DOJ Wants to Block Sam Bankman-Fried From Bringing Up Anthropic AI Raise in Court
FTX owns a stake in Anthropic which was worth $500 million last year.
