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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Sam Bankman-Fried Pleads Not Guilty to Latest Indictment
Bankman-Fried's attorney later deplored Bankman-Fried's lack of vegan options in prison, saying he was "subsisting on a diet of bread and water" during the hearing.
Prosecutors, Sam Bankman-Fried File Proposed Jury Instructions for Trial
The FTX founder's lawyers are suggesting Bankman-Fried acted in good faith, with a trial set for October.
Sam Bankman-Fried Due Back in Court as He Asks for Daily Releases
The FTX founder will be arraigned on Tuesday. Last week, his attorneys asked that he be allowed to review defense filings at a federal prosecutor’s office every weekday.
FTX Debtors Change Settlement Proposal After Objection From U.S. Trustee
Bankrupt crypto exchange FTX has revised its motion for settlement after the U.S. Trustee objected to an earlier motion, according to a court filing. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the new proposal. Plus, the latest on Sam Bankman-Fried's case as the disgraced FTX founder asks to be released from jail five days a week for legal defense work.
Things in Crypto We're Freaking Out About
With a nod to Sam Bankman-Fried, CoinDesk staff crowdsource their fears, anxieties and disappointments — for your enjoyment!
What FTX's Sam Bankman-Fried Is 'Freaking Out About'
A recent court filing reveals prosecutors plan on submitting personal notes from former Alameda CEO Caroline Ellison as evidence against FTX founder Sam Bankman-Fried ahead of his trial in October, which includes a list titled "Things Sam is Freaking Out About." "The Hash" panel shares their reaction to the latest legal proceedings in Bankman-Fried's case.
Prosecutors Lob New Allegations at FTX's Sam Bankman-Fried; Europe's First Spot Bitcoin ETF
“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as Jacobi Asset Management lists Europe's first spot bitcoin exchange-traded fund (ETF). Crypto custodian Prime Trust filed for Chapter 11 bankruptcy protection. And, federal prosecutors are claiming that FTX founder Sam Bankman-Fried used more than $100 million of customer funds for political donations.
FTX's Sam Bankman-Fried Allegedly Used Customer Funds for Political Donations, Prosecutors Say
Federal prosecutors are claiming that FTX founder Sam Bankman-Fried used more than $100 million of customer funds for political donations. CoinDesk's global policy and regulation managing editor Nikhilesh De discusses what this means for Bankman-Fried as he gears up for trial in October. Plus, the latest developments on former co-CEO of FTX Digital Markets Ryan Salame declining to testify, according to a court filing.
Bernie Madoff's Former Attorney on Next Steps for FTX's Sam Bankman-Fried; Trump's Crypto Assets
“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as Ira Lee Sorkin, former attorney for Bernie Madoff and current partner at Mintz and Gold, explains what could happen next for Sam Bankman-Fried, after the FTX founder was sent back to jail before his trial. Bernstein thinks spot bitcoin ETF approvals could help power up a new crypto cycle. And, a closer look at how much former President Trump holds in crypto.