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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Legal Expert on Sam Bankman-Fried Being Ordered to Jail After Judge Revokes Bail
Hermine Wong, former Coinbase head of policy and current principal at herminewong.xyz, weighs in on FTX founder Sam Bankman-Fried being sent to jail ahead of his trial in October. "I don't think that we're going to pretend here that Sam Bankman-Fried is acting in a manner that the general public, or anyone, would consider to be rational," Wong added.
Bitcoin Price Steady Around $29.3K as SBF Goes Back to Jail
Bitcoin (BTC) is trading flat near the $29,300 level as investors react to the news that FTX founder Sam Bankman-Fried was sent to jail ahead of his October trial over attempts to tamper with witnesses. Ethena head of research & data Conor Ryder discusses the lack of price action in bitcoin and ether. Plus, insights on traders' interests in meme coins and a potential stablecoin race as fintech giant PayPal releases its dollar-pegged stablecoin PYUSD.
FTX's Sam Bankman-Fried Is Sent to Jail Before His Trial: What Happens Next?
A federal judge revoked Sam Bankman-Fried's bond release, saying the FTX founder appears to have "attempted to tamper with witnesses." Hermine Wong, former Coinbase head of policy and current principal at herminewong.xyz, joins "First Mover" with her reaction to Bankman-Fried's bond revocation. Plus, her outlook on crypto adoption as the industry is plagued with negative headlines.
Sam Bankman-Fried Jailed Ahead of Trial
FTX founder Sam Bankman-Fried was sent to jail ahead of his October trial after a federal judge revoked his bond last Friday, saying the former crypto heavyweight appears to have tried to tamper with witnesses. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down Judge Lewis Kaplan's conclusion at the hearing and the response from Bankman-Fried's defense team.
First Mover Americas: Hedera’s Token Gains on Fed Move
The latest price moves in crypto markets in context for August 14, 2023.
Sam Bankman-Fried Jailed Ahead of Trial
Bankman-Fried was accused of leaking former Alameda Research CEO Caroline Ellison's diary to the New York Times.
FTX's Sam Bankman-Fried Heads to Court; SEC Extends Review of Cathie Wood's Spot Bitcoin ETF
“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as the SEC pushes its review of the Ark 21Shares bitcoin ETF application. Sources tell CoinDesk beleaguered crypto custodian Prime Trust could face layoffs. A new report reveals the potential impact of PayPal's stablecoin debut. And, FTX founder Sam Bankman-Fried heads to court, as a judge could decide if he should be sent back to jail ahead of his trial.
Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth
The FTX and Alameda Research founder didn’t just violate his bail — he violated the trust of his family’s last remaining allies.
Could FTX's Sam Bankman-Fried Go to Jail?
Sam Bankman-Fried is set to appear at a hearing on Friday for a judge to decide whether the disgraced founder of FTX is going to jail before his trial in October over sharing former Alameda Research CEO Caroline Ellison's diary with the New York Times. CoinDesk's global policy and regulation managing editor Nikhilesh De shares his prediction. Plus, the latest on crypto exchange Bittrex's $24 million fine.
Campaign-Finance Charges Are Back on the Menu
Sam Bankman-Fried isn't escaping the charge as he faces potential jail time ahead of his trial.
