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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Finance

Ledn Makes Competing Bid for Troubled Crypto Lender BlockFi: Report

BlockFi CEO Zac Prince denied a story that his company had agreed to a sale to FTX for just $25 million.

By Jamie CrawleyJul 1, 2022

BlockFi advertisement in Washington D.C.'s Union Station (CoinDesk archives)

Videos

FTX’s Sam Bankman-Fried Denies Robinhood Acquisition Rumor

“The Hash” group discusses FTX’s ever-expanding presence across crypto sector, its ambitions to integrate with traditional financial assets. Plus, how the company is weathering through the bear market and its growth plans.

Jun 28, 2022

Finance

Robinhood Shares Spike on Report FTX May Be Seeking to Acquire It

Plans are still in the preliminary stages, according to a report from Bloomberg.

By Nelson WangJun 27, 2022

Videos

FTX Token DAO Raises $7M From Community of Sam Bankman-Fried Fans

A community dedicated to FTT, the native token of crypto exchange FTX, has raised $7 million (250,000 FTT), which will be converted into an ecosystem fund for community-led projects across DeFi and crypto education. "The Hash" team discusses the latest in Sam Bankman-Fried's crypto empire.

Jun 27, 2022

Finance

FTX Token DAO Raises $7M From Community of Sam Bankman-Fried Fans

The money is destined for a fund that will contribute to community-led projects across DeFi and crypto education.

By Oliver KnightJun 27, 2022

Sam Bankman-Fried speaks at Crypto Bahamas 2022. (Danny Nelson/CoinDesk)

Videos

SBF Agrees Second Bailout; Pride in the Metaverse

Bitcoin, cryptocurrencies return to red with soaring U.K. inflation. Sam Bankman-Fried steps in to bail out BlockFi.Indian tax authorities to discuss 28% GST on crypto trading next week. Chinese regulators vow to prevent further crypto risks. Pride events head into the metaverse, offering a new safe space for the LGBT community. Those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."

Jun 23, 2022

Podcasts

Crypto News Roundup for June 22, 2022

By Adrian Blust, Adam B. LevineJun 22, 2022

Weekend Story | The Short-Sightedness of Run-Amok Regulators

Opinion

Is Sam Bankman-Fried a Modern-Day Robber Baron?

In bailing out the crypto industry, the digital asset titan is acting like at least one Gilded Age financier.

By Daniel KuhnJun 21, 2022

Finance

FTX Unit Buys Stock-Clearing Platform Embed to Expand Equity Trading Infrastructure

The acquisition is intended to aid FTX.US' equity trading ambitions.

By Michael BellusciJun 21, 2022

FTX US President Brett Harrison (Danny Nelson/CoinDesk)

Finance

FTX Founder Sam Bankman-Fried Signs Billionaires’ Giving Pledge

The crypto billionaire has promised to give away the majority of his wealth to philanthropic causes.

By Tracy WangJun 1, 2022