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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Reddit Expands Community Points Offering With FTX Pay Integration

Reddit users can now purchase ether directly on the app.

By Oliver KnightAug 9, 2022, 10:07 a.m. EDT

Reddit has submitted a filing with the Securities and Exchange Commission (SEC) to go public on the New York Stock Exchange under the ticker symbol “RDDT.” (Brett Jordan/Unsplash)

Finance

Crypto Lender Voyager Digital Has Received Several Purchase Offers Higher Than FTX’s: Report

The company last week rejected FTX’s proposal to purchase its assets and offer early liquidity to its customers.

By Cam ThompsonAug 4, 2022, 4:01 p.m. EDT

FTX CEO Sam Bankman-Fried (Craig Barritt/Getty Images)

Finance

Robinhood CEO Shuts Down FTX M&A Chatter, Says He Has Money to Do His Own Deals

Robinhood has $6 billion in cash should the brokerage want to explore potential acquisitions, CEO Vlad Tenev said Wednesday.

By Michael BellusciAug 3, 2022, 6:42 p.m. EDT

Trading app Robinhood has added Solana, Pepe, Cardano and XRP to the list of cryptocurrencies available to trade on its platform. (Unsplash)

Opinion

Crypto.com and FTX Bet Big on Stadium Naming Rights Before the Crypto Crash. What Happens if They Can’t Afford to Pay?

The glamour of a stadium naming deal can turn sour - just ask Enron. Here’s how a deal might unwind if things go bad.

By David Z. MorrisJul 29, 2022, 1:48 p.m. EDT

Finance

Alameda Research Leads $3.25M Seed Round for Trustless Media

The New York-based company lets creators tokenize TV productions with NFTs.

By Eli TanJul 27, 2022, 10:00 a.m. EDT

The NFT television landscape is in its infancy. (DPMike/Getty Images)

Videos

Fed Nerves Hit Crypto; Philippines Crypto Tax Pushed

Crypto prices fall ahead of the Fed meeting. Philippine President Marcos Jr. pushes tax for digital services to boost economy, cut debt. Talks between FTX and Bithumb over a potential buyout raise questions. Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal. Binance’s Changpeng Zhao sues Bloomberg in Hong Kong.

Jul 26, 2022, 11:24 a.m. EDT

Finance

Failed Lender Voyager: ‘No Customer Will Be Made Whole’ Under FTX Proposal

FTX CEO Sam Bankman-Fried said his firm's offer would give Voyager customers back 100% of the remaining assets, while Voyager’s lawyers argue that it only benefits FTX.

By Sam ReynoldsJul 25, 2022, 12:58 a.m. EDT

Sam Bankman-Fried on CoinDesk TV (CoinDesk TV screenshot)

Finance

FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager

The crypto exchange will allow the customers to create accounts funded by an early distribution of a part of their bankruptcy claims.

By Cam ThompsonJul 22, 2022, 4:39 p.m. EDT

Videos

Bitcoin’s Real Role Examined; 3AC’s Complex Ties Revealed

Report says Bitcoin users in emerging markets looking beyond investment. U.S. Senator Cynthia Lummis says vote on crypto bill unlikely this year. Sam Bankman-Fried says “moderately bad” deals okay during bailouts. Court documents show strong ties between 3AC and TPS Capital. Dubai scorches crypto winter with plans to support 40,000 metaverse jobs.

Jul 20, 2022, 11:20 a.m. EDT

Policy