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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Policy

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.

By Nikhilesh DeOct 2, 2023

FTX founder Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Opinion

Is Michael Lewis Throwing Out His Reputation to Defend Sam Bankman-Fried?

The reigning financial writer's latest book, “Going Infinite,” is an eyewitness account of the fall of FTX’s founder, who Lewis said is “misunderstood.”

By Daniel KuhnOct 2, 2023

Michael Lewis (Danny Nelson/CoinDesk, modifed)

Policy

Sam Bankman-Fried’s Closest Friends Will Testify Against Him. Here’s Who Else We’ll Hear From

Sam Bankman-Fried's trial is set to start this Tuesday, and some of his former closest friends, have become his biggest threat.

By Helene Braun, Elizabeth NapolitanoOct 2, 2023

Sam Bankman-Fried outside U.S. District Court on Feb. 9, 2023 (Liz Napolitano/CoinDesk)

Videos

'Big Short' Author Michael Lewis Weighs in on FTX Collapse Ahead of SBF Trial; Bitcoin Breaks Above $28K

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, as bitcoin (BTC) rose above $28,000 for the first time in a month after the U.S. avoided a government shutdown. Millions of dollars in Ether has been moved from a wallet tied to an apparent FTX exploit in 2022. And, author Michael Lewis speaks to CBS about FTX founder Sam Bankman-Fried's possible mindset ahead of his criminal trial.

Oct 2, 2023

Podcasts

SBF TRIAL PODCAST: 10/02 Update

By CoinDeskOct 2, 2023

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

Videos

The SBF Trial: What to Expect

FTX founder Sam Bankman-Fried's trial is set to begin on Tuesday. CoinDesk's global policy and regulation managing editor Nikhilesh De discusses what to expect from the court house. Plus, 15,000 ether (ETH) sitting in a wallet associated with last year's $600 million attack on FTX's wallets have now moved through privacy tools and bridges.

Oct 2, 2023

Policy

Sam Bankman-Fried Goes on Trial Tomorrow

Crypto's biggest trial begins tomorrow. Its outcome may hinge on Sam Bankman-Fried's former colleagues.

By Helene Braun, Nikhilesh DeOct 2, 2023

Policy

Sam Bankman-Fried Saw Missing FTX Billions as ‘Rounding Error,’ Biographer Says

Michael Lewis revealed management failings at crypto exchange FTX and a multi-billion-dollar plan to keep Donald Trump from running for office again, in an interview with CBS.

By Jack SchicklerOct 2, 2023

Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk)

Tech

FTX 'Hacker' Moved 15K ETH This Weekend

The moving funds, coming soon before FTX founder and former chief executive Sam Bankman-Fried goes on trial, deepens one of the ongoing mysteries around the exchange's collapse last year.

By Nikhilesh De, Shaurya MalwaOct 2, 2023

Policy

FTX's Bankman-Fried Cannot Blame Lawyers in Opening Statement: Judge

Sam Bankman-Fried's defense team can't stress the role of attorneys at Fenwick & West in his opening statement, but can still try raising the "advice-of-counsel" defense later in the trial, Judge Lewis Kaplan said Sunday.

By Nikhilesh DeOct 1, 2023

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