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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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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Ava Labs CEO Rejects Crypto Leaks Allegations; Sam Bankman-Fried Denies Rumored Huobi Acquisition

Ava Labs CEO Emin Gun Sirer says Kyle Roche of the law firm Roche Freedman was never directed to file lawsuits against his competitors, as claimed by self-described "whistleblower" website Crypto Leaks. FTX CEO Sam Bankman-Fried denies reports suggesting the crypto exchange is planning to acquire Huobi. Singapore's central bank wants to promote a digital asset ecosystem while restricting crypto speculation.

29. Aug. 2022

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FTX’s Sam Bankman-Fried Denies Crypto Exchange Is Planning to Acquire Huobi

Huobi’s native token HT declined about 6% following Bankman-Fried’s tweet.

Von Nelson Wang29. Aug. 2022

FTX CEO Sam Bankman-Fried and Lauren Remington Platt (FTX)

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Co-CEO of Crypto Trading Firm Alameda Research Sam Trabucco Steps Down

Trabucco will stay on as an adviser, while Caroline Ellison will become the company’s sole CEO.

Von Nelson Wang24. Aug. 2022

Former Alameda Research co-CEO, Sam Trabucco (Alameda Research)

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FTX Could Buy BlockFi for Only $15M – or a Lot More If Crypto Lender Hits Big Goals

FTX’s option to acquire BlockFi includes performance targets around a key SEC approval and more than doubling client assets that boost the purchase price to $240 million, people familiar with the matter told CoinDesk.

Von Tracy Wang22. Aug. 2022

BlockFi CEO Zac Prince speaks at Consensus 2019. (CoinDesk archives)

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Crypto Exchange FTX Saw $1 Billion in Revenue Last Year: Report

Sam Bankman-Fried’s crypto exchange FTX posted $1.02 billion in revenue last year, jumping 1,000% from $89 million in the prior year, CNBC reported, citing internal documents it had viewed. FTX CEO Sam Bankman-Fried later tweeted that the numbers were “correct ballpark.” “The Hash” panel discusses the evolution of FTX’s brand and its hiring strategy.

22. Aug. 2022

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