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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Finance

Sam Bankman-Fried's Bahamas Court Appearance Adds to Confusion

Earlier reports suggested the former FTX CEO was going to waive any extradition challenge.

By Stephen AlpherDec 19, 2022

Videos

Sam Bankman-Fried Prepares for US Extradition: Reports

Sam Bankman-Fried will no longer contest extradition to the U.S. from the Bahamas, according to multiple media outlets. This comes as Bloomberg reports the former FTX CEO could be extradited to the U.S. as soon as Monday. "The Hash" panel weighs in on the latest legal developments of Sam Bankman-Fried's arrest.

Dec 19, 2022

Videos

Sam Bankman-Fried Expected to Accept US Extradition: Reports

FTX founder and former CEO Sam Bankman-Fried will no longer contest extradition to the U.S. from the Bahamas, multiple media outlets have reported. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses his change of heart and what this means for his extradition hearing on Feb. 8.

Dec 19, 2022

Policy

Sam Bankman-Fried Won’t Contest US Extradition: Reports

The change of heart suggests the founder of the crypto exchange founder could leave his notorious Bahamas jail.

By Jack SchicklerDec 19, 2022

The US Department of Justice unveiled charges against Sam Bankman-Fried on Dec. 13. (Stephanie Keith/Getty Images)

Consensus Magazine

The Faulty Moral Universe of Sam Bankman-Fried

The FTX CEO's legal-scholar mother believed personal responsibility was an outdated concept. Did those ideas create a monster?

By David Z. MorrisDec 16, 2022

AI Artwork Sam Bankman-Fried SBF in Prison concept (Midjourney/CoinDesk)

Policy

Media Groups Win Right to Argue for Publication of FTX’s Million-Strong Creditor List

A final decision on whether to publish the names, which the collapsed crypto exchange says could advantage competitors and breach privacy laws, will follow in January.

By Jack SchicklerDec 16, 2022

Podcasts

What the 2022 Crypto Year Revealed and How Humanity Failed Again

By Sheila Warren, Michael J. CaseyDec 16, 2022

Money Reimagined Digital Money Stage at Consensus 2022

Videos

Bitcoin Levels to Watch Amid SBF Arrest, FTX Fraud Charges

Wave Financial CEO David Siemer discusses his outlook for bitcoin and the wider crypto markets as FTX founder Sam Bankman-Fried faces criminal charges from multiple authorities, and the U.S. Federal Reserve raises interest rates by half percent.

Dec 15, 2022

Policy

US Government Wants to ‘Send a Message’ to Crypto With SBF’s Arrest, Says Former US Prosecutor

Renato Mariotti, now a partner at international law firm Bryan Cave Leighton Paisner, discusses why regulators are “eager to plant a flag” on the crypto industry.

By Fran VelasquezDec 15, 2022

Videos

Sam Bankman-Fried Soured US Govt's View on Crypto: Former Federal Prosecutor

"I don't expect any industry-friendly regulation" in the short term, says Renato Mariotti, partner at law firm Bryan Cave Leighton Paisner and former federal prosecutor. He shares his regulatory outlook following the arrest of Sam Bankman-Fried.

Dec 15, 2022