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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Videos

FTX Founder Sam Bankman-Fried Arrested In Bahamas

Sam Bankman-Fried, former CEO of crypto exchange FTX, has been arrested by authorities in the Bahamas. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the latest turn of events following the stunning collapse of FTX and what happens next.

Dec 13, 2022

Videos

SEC Charges Sam Bankman-Fried for Defrauding FTX Investors, Legal Expert Weighs In

The U.S. Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried, the former CEO of defunct crypto exchange FTX, for defrauding investors of his platform, according to a release on Tuesday. Former CFTC Trial Lawyer Braden Perry explains why the charges are "unique." Plus, he adds that "there will be a race to regulation," following the rapid collapse of the crypto exchange.

Dec 13, 2022

Policy

FTX Founder Sam Bankman-Fried Formally Charged With Conspiracy, Fraud in US Court

Bankman-Fried was arrested in The Bahamas on Monday.

By Nikhilesh DeDec 13, 2022

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

Policy

Sam Bankman-Fried, fundador de FTX, fue detenido en las Bahamas

Las autoridades de Estados Unidos presentaron cargos penales contra Bankman-Fried y Bahamas está dispuesta a extraditarlo en cuanto lo soliciten.

By Nikhilesh DeDec 13, 2022

Sam Bankman-Fried, CEO de FTX, y Christine Lee, presentadora principal de CoinDesk, en Consensus 2022. (Suzanne Cordiero/Shutterstock/CoinDesk)

Policy

CFTC Sues Sam Bankman-Fried, Alameda Research for Fraud

In a filing, the regulator says Bankman-Fried misrepresented the health of his companies, impacting the price of bitcoin and ether.

By Parikshit Mishra, Jack SchicklerDec 13, 2022

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton/CoinDesk)

Markets

First Mover Americas: Bankman-Fried Arrested in Bahamas

The latest price moves in crypto markets in context for Dec. 13, 2022.

By Lyllah Ledesma, Omkar GodboleDec 13, 2022

FTX founder Sam Bankman-Fried was arrested in the Bahamas. (CoinDesk archives)

Policy

US SEC Charges Sam Bankman-Fried for Defrauding FTX Investors

Bankman-Fried illegitimately used customer funds to support his lavish lifestyle and make political donations, the regulator alleged.

By Parikshit Mishra, Jack SchicklerDec 13, 2022

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton/CoinDesk, modified by CoinDesk)

Policy

FTX's Bahamas Liquidators Seek to Exclude Over $200M Worth of Luxury Properties From Liquidation

The unwinding of Sam Bankman-Fried’s sprawling empire is proving as unwieldy as the company itself.

By Jack SchicklerDec 13, 2022

Policy

Top US Lawmaker Says FTX Hearing Will Continue Without Sam Bankman-Fried

House Financial Services Committee Chairwoman Maxine Waters said she was 'surprised' and 'disappointed' to hear of SBF's arrest.

By Eliza GkritsiDec 13, 2022

Sam Bankman-Fried at Consensus 2022 (Suzanne Cordiero/Shutterstock/CoinDesk)

Markets

First Mover Asia: QCP Capital Founder Sees Crypto Industry’s Immediate Future Tied to Genesis Debacle, Expects Rebound in 2024

During a panel discussion at Taipei Blockchain Week, Darius Sit noted continued institutional adoption of the crypto options and derivatives market, among industry high points; bitcoin rises; Bahamas announces the arrest of former FTX CEO Sam Bankman-Fried

By James Rubin, Sam ReynoldsDec 12, 2022

QCP Capital co-founder Darius Sit speaking at Korea Blockchain Week. (Shaurya Malwa/CoinDesk)