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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
The SBF Trial: Timeline of FTX's Implosion
The FTX empire collapsed last year, creating a ripple effect across the crypto sector. Now, founder Sam Bankman-Fried begins his trial in New York where he's facing seven charges related to fraud and conspiracy. So, how did we get here? "CoinDesk Daily" host Jennifer Sanasie breaks down the timeline of events.
The 'Real Question' About Sam Bankman-Fried's Trial is What Happens Next: Kevin O'Leary
Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, is headed to trial today on multiple fraud and money laundering charges. O'Leary Ventures chairman Kevin O'Leary discusses his reaction as a former FTX spokesperson and the potential crypto industry implications. "The real question about this trial is, what happens next?" O'Leary said.
Kevin O’Leary on SBF Trial: 'All the Crypto Cowboys' Will be 'Gone Soon'
Sam Bankman-Fried's criminal trial is kicking off today, as the FTX founder faces charges that include securities fraud, wire fraud, and conspiracy to launder money. O'Leary Ventures chairman Kevin O'Leary shares his take on the trial as a former FTX spokesperson and what could happen next. "All the crypto cowboys...they're all going to be gone soon...they were great pioneers, but now they just have arrows in their backs," O'Leary said.
Why the Ripple Effect of FTX’s Demise Goes Beyond the U.S.
Sam Bankman-Fried's criminal trial starts today in the U.S., but the ripple effect from FTX's collapse goes far beyond those borders. CoinDesk executive director of global content Emily Parker discusses the impact on Asia's digital asset scene and the outlook for a possible FTX 2.0.
FTX Founder Sam Bankman-Fried Will Likely 'Take the Stand,' Lawyer Predicts
Federal prosecutors have called the collapse of FTX "one of the biggest financial frauds in American history." And today, the founder of the crypto exchange, Sam Bankman-Fried, gets his day in court. Renato Mariotti, Bryan Cave Leighton Paisner LLP Partner, shares his perspective on the upcoming legal proceedings and why he anticipates Bankman-Fried will take the stand to defend himself. "I don't think his lawyers could possibly keep him from the stand," Mariotti added.
How Are Crypto Traders Behaving After FTX Collapse?
Kaiko data indicates bankrupt crypto exchange FTX was processing nearly $100 billion in trade volume every month at its peak. Kaiko Director of Research Clara Medalie takes a look back at FTX's collapse as Sam Bankman-Fried's criminal trial begins today.
The Collapse of FTX, in Sam’s Own Words
As we prepare to hear from the DOJ and Sam Bankman-Fried, here’s what the former crypto executive had to say about FTX’s collapse last year.
Bankman-Fried Seeks to Block Prosecutors Calling FTX Investors, Former Insiders as Witnesses
Lawyers are still quibbling over what evidence can be brought to the FTX founder’s fraud trial, hours before jury selection is due to start.
Sam Bankman-Fried's Defense Asks for Clarity on Charity, Bankruptcy Arguments
The trial for the founder of the collapsed crypto exchange FTX is scheduled to start Tuesday, and his lawyers are scoping out the range of arguments they might present.
