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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Opinion

Crypto Is a Luxury Good

Unwrapping Sam Bankman-Fried's analogy about money-printing boxes.

By Daniel KuhnMay 5, 2022, 3:00 p.m. EDT

(Kelli McClintock/Unsplash, modified by CoinDesk)

Finance

Wall Street Goes Crypto in the Bahamas

The inaugural Crypto Bahamas conference was a four-day flex of FTX’s expanding empire – with a new era of “corporate crypto” firmly on display.

By Tracy WangMay 4, 2022, 2:57 p.m. EDT

Coming or already here? (Danny Nelson/CoinDesk)

Finance

Crypto Venture Capital's Rejection of Venture Capital and ‘The Box’

The mechanics behind crypto yield farming are eerily simple, but that simplicity should act as a warning label rather than an advertisement.

By George KaloudisMay 1, 2022, 10:50 a.m. EDT

What magically happens inside "The Box"? (PM Images/Stone/Getty Images)

Videos

Russian Crypto Miner BitRiver Hit by US Sanctions

CoinDesk Managing Editor for Global Policy and Regulation Nikhilesh De discusses Russian crypto mining firm BitRiver being hit with U.S. sanctions amid the invasion of Ukraine. Plus, a conversation about a recent meeting between FTX’s Sam Bankman-Fried and members of the Commodity Futures Trading Commission (CFTC).

Apr 21, 2022, 2:54 p.m. EDT

Finance

Sam Bankman-Fried: The Man, the Hair, the Vision

SBF is 30 and his company, FTX, is everywhere. He'll be appearing at CoinDesk's Consensus festival in June.

By Jeff WilserApr 14, 2022, 2:31 p.m. EDT

Opinion

Waves Founder Blames Short Sellers for Its Woes. Here's Why That's a Red Flag

To longtime finance observers, blaming shorts often looks like the last desperate deflection of a project in denial about its failures.

By David Z. MorrisApr 6, 2022, 2:01 p.m. EDT

The WAVES smart-contract ecosystem has hit a rough patch. Its attempt to stop short selling might not be a sustainable solution. (Gabe LHeureux/ Getty Images)

Podcasts

Post-Modern Monetary Theory

By Nathaniel WhittemoreMar 27, 2022, 9:00 a.m. EDT

Finance

Praxis Raises $15M in Series A Funding Round

The startup is trying to build a city organized around remote work.

By Stephen AlpherMar 3, 2022, 6:32 p.m. EST

Finance

Crypto Donations to Ukraine Jump to $20M

FTX founder Sam Bankman-Fried and Chain.com CEO Deepak Thapliyal have contributed.

By Sam ReynoldsFeb 28, 2022, 12:33 a.m. EST

Videos

FTX CEO Sam Bankman-Fried Talks Super Bowl, Future Plans, Crypto Regulation

Sam Bankman-Fried, CEO of crypto exchange empire FTX, joins “The Hash” to discuss the process behind his platform’s ad campaign that played during Sunday’s Super Bowl, featuring comedian Larry David. How did it compare with other crypto ads?

Feb 14, 2022, 2:20 p.m. EST