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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
All Custodial Crypto Exchanges Should Adopt Proof-of-Reserve Programs, but Even That Isn’t Enough
After last week’s FTX debacle, customers who don’t wish to take custody into their own hands should demand far better from their service providers.
FTX Hack Sparks Revolution at Serum DEX as Solana Devs Plot Alameda's Ouster
Developers are scrambling to create a new version of the on-chain liquidity hub that has no ties to Sam Bankman-Fried’s burning empire.
FTX Owes Miami $16.5M For Arena Sponsorship Cancellation
The contract between FTX and Miami-Dade County says FTX must pay the County three years of fees in the event of default.
'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
Post-FTX, What Happens to Crypto Markets?
The ongoing crypto crisis that sent digital asset prices plummeting may now offer a buying opportunity, albeit not without challenges.
Bitcoin Drops After FTX Bankruptcy Filing
Bitcoin (BTC) and other cryptocurrencies sharply fell on the news that troubled crypto exchange FTX is filing for bankruptcy and CEO Sam Bankman-Fried is resigning from the company. FTX US also froze crypto withdrawals, sending millions in assets to bankruptcy limbo. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Bitcoin Slides Below $17K After FTX Bankruptcy Filing
As bitcoin (BTC) continues to fall lower, CoinDesk Markets Managing Editor Brad Keoun and Regulatory Reporter Cheyenne Ligon discusses this week's crypto roller coaster following the implosion of FTX, as CEO Sam Bankman-Fried steps down. Where did it all go wrong, how is it different from other crypto blowups, and what does this mean for the future of the industry?
From Enron to FTX: Wall Street Turnaround Titan John Jay Ray III Takes Reins from FTX CEO Sam Bankman-Fried
Sam Bankman-Fried handed over control of his company to the veteran Wall Street bankruptcy lawyer, who will guide the company’s Chapter 11 process.
