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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Agrees to Testify Before Lawmakers
Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, has said in a tweet that he'll testify before the House Financial Services Committee at a Dec. 13 hearing. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses what to expect from the meeting and insights on SEC's letter that urges companies to disclose crypto damage to investors.
Bitcoin Above $17K as Wholesale Price Inflation Is Hotter Than Expected
Bitcoin (BTC) is trading around $17,100 after a new wholesale inflation report is hotter than expected. Matrixport Head of Research and Strategy Markus Thielen discusses what this latest economic data means for the crypto market. Plus, insights on the surge in FTT token after Sam Bankman-Fried showed his support for an FTX revival plan.
Sam Bankman-Fried, CZ Battle It Out on Twitter Over Binance's Exit from FTX
The former FTX CEO and current Binance CEO disagree on the details of FTX's buyout of Binance's investment in it last year.
Sam Bankman-Fried Agrees to Testify Before US House Financial Committee
The chair of the House Financial Services Committee, Maxine Waters, said SBF's attendance was "imperative."
FTX Revival Proposal Supported by Sam Bankman-Fried Lifts FTT Token
The crypto exchange's founder tweeted his support for influencer Ran Neuner's revival idea, sending the battered tokens as much as 47% higher.
The Four Horsemen of the Cryptocalypse
This year has been a real mixed bag with market ups, downs, successes, progress, and now a crisis of faith for some in crypto. CoinDesk Chief Insights Columnist David Z. Morris joins "All About Bitcoin" to discuss why Do Kwon, Su Zhu, Alex Mashinsky and Stephen Ehrlich are four of CoinDesk’s Most Influential 2022. Plus, insights on Morris' latest op-ed about why former FTX CEO Sam Bankman-Fried could go to jail.
Did Sam Bankman-Fried Finally Admit the Obvious?
In an exchange with YouTuber Coffeezilla, the former CEO disclosed that client funds weren’t segregated as promised.
Fmr Mt. Gox CEO on SBF
Former Mt Gox CEO suggests Sam Bankman-Fried is "trying to hide something." That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."