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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

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'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits

An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations.

By Francine McKennaNov 18, 2022

FTX CEO Sam Bankman-Fried (Danny Nelson/CoinDesk)

Podcasts

Worse Than Enron? The FTX Collapse Leaves Many With Egg on Their Faces

By Michael J. CaseyNov 18, 2022

Money Reimagined Digital Money Stage at Consensus 2022

Policy

Sam Bankman-Fried Switches Legal Counsel as Investigations Into FTX Collapse Mount: Report

White-shoe law firm Paul Weiss is reportedly out – and SBF’s dad’s co-worker is in.

By Cheyenne LigonNov 17, 2022

Sam Bankman-Fried, CEO, FTX and Christine Lee, Lead Anchor, CoinDesk at Consensus 2022 (Suzanne Cordiero/Shutterstock/CoinDesk)

Podcasts

Guy Who Oversaw Enron Says FTX Is Worse

By Nathaniel WhittemoreNov 17, 2022

Videos

FTX Affiliate Alameda Research Loaned $4.1B to Related Parties: Court Filing

Alameda Research, the venture capital and trading firm affiliate of collapsed crypto exchange FTX, made $4.1 billion in loans to related parties, including $1 billion to former FTX CEO Sam Bankman-Fried, according to bankruptcy filings Thursday. CoinDesk Deputy Managing Editor Tracy Wang joins "All About Bitcoin" to discuss.

Nov 17, 2022

Podcasts

New FTX CEO Criticizes Management of Crypto Exchange During Sam Bankman-Fried's Tenure; Next Steps for Binance

By William Foxley, Zack Seward, Jennifer Sanasie, Wendy ONov 17, 2022

Videos

Alameda Had ‘Secret Exemption’ From FTX Liquidation Protocols: Bankruptcy Filings

Alameda Research, the crypto hedge fund at the center of Sam Bankman-Fried’s and FTX’s downfall, had a “secret exemption” from the crypto exchange’s liquidation procedures, according to Thursday's bankruptcy filings. CoinDesk Deputy Managing Editor Tracy Wang joins "All About Bitcoin" to discuss the latest revelations.

Nov 17, 2022

Markets

Crypto Market Analysis: Risk Management Remains Paramount in Coming Weeks

Derivatives markets show some signs of hope, but only slightly.

By Glenn Williams Jr.Nov 17, 2022

Finance

FTX Ventures Was a Disorganized Mess With Missing Financials, Bankruptcy Documents Say

The latest documents claim that the venture capital arm’s funds were barely tracked.

By Brandy BetzNov 17, 2022

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

Videos

Sam Bankman-Fried's Media Image and Tactics

Former FTX CEO Sam Bankman-Fried threw his meandering “What H-A-P-P-E-N-E-D” Twitter thread into damage control Wednesday after a Vox reporter published Twitter direct messages of him cursing about regulators, a group he famously and publicly courted for their influence. "The Hash" panel discusses what to make of his statements.

Nov 17, 2022