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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Refiles for Temporary Release Ahead of Trial

The FTX founder's requests to be released from jail started in August, when his release on bond was revoked.

By Amitoj Singh, Jack SchicklerSep 26, 2023

Podcasts

SBF TRIAL PODCAST: 09/25 Update

By CoinDeskSep 25, 2023

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

Podcasts

SBF TRIAL: Inside Sam Bankman-Fried's Trial Defense Trailer

By CoinDeskSep 25, 2023

Policy

Sam Bankman-Fried (Probably) Won’t Get a 115-Year Prison Sentence

The FTX founder will be defending himself against wire fraud and conspiracy charges. Here's what that means.

By Nikhilesh DeSep 25, 2023

Videos

Binance Claps Back at SEC Lawsuit; FTX's Sam Bankman-Fried Will Remain in Jail

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, including the argument Binance attorneys are making in a recent motion to dismiss the SEC's lawsuit. Bankrupt crypto exchange FTX has sued former employees of Salameda. And, FTX founder Sam Bankman-Fried faces a legal setback after an appeals court rejected his attorneys’ attempt to free him from jail ahead of his trial.

Sep 22, 2023

Podcasts

SBF TRIAL PODCAST: 09/22 Update

By CoinDeskSep 22, 2023

Policy

Sam Bankman-Fried Sort of Had a Rough Day

Bankman-Fried suffered two procedural losses.

By Nikhilesh DeSep 22, 2023

Finance

FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million

In the run-up to FTX's bankruptcy filing, known as the Preference Period, the defendants received the benefit of withdrawals that constitute preferential transfers, the filing said.

By Amitoj SinghSep 22, 2023

FTX bankruptcy estate consolidates ARB airdrop (Christine Roy/Unplash)

Policy

Sam Bankman-Fried Will Remain in Jail Through the Start of His Trial

An appeals court rejected his attorneys’ attempt to free him in the run-up to the trial.

By Nick Baker, Nikhilesh DeSep 21, 2023

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

Policy

Judge Blocks Sam Bankman-Fried's Proposed Witnesses From Testifying

SBF's defense can try again to put some of the FTX founder's witnesses on the stand, though the U.S. Justice Department may still object, Judge Lewis Kaplan wrote.

By Nikhilesh DeSep 21, 2023

Sam Bankman-Fried outside court in July 2023. (Nikhilesh De/CoinDesk)