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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Videos

Sam Bankman-Fried Grilled by Prosecutor Over Public Statements Made Before FTX's Collapse

Sam Bankman-Fried was grilled on the stand Monday, as the prosecution drilled the FTX founder with questions on public statements he previously made or posted on X (formerly known as Twitter) before the collapse of the exchange. Katten partner and co-chair for the firm's financial markets and regulation practice group Dan Davis weighs in. "You almost guarantee these types of statements will come in if you testify," Davis said.

Oct 31, 2023

Videos

Sam Bankman-Fried's Trial Is 'Already' Impacting U.S. Crypto Regulation: Lawyer

FTX founder Sam Bankman-Fried is taking the stand again Tuesday for more cross-examination in his criminal trial. Katten partner and co-chair for the firm's financial markets and regulation practice group Dan Davis discusses his take on the latest legal proceedings and the impact on the U.S. crypto regulatory landscape. "I think any regulator and any person in Congress wants to make sure what happened with FTX does not happen again," Davis said.

Oct 31, 2023

Podcasts

SBF TRIAL Podcast 10/31: Was Sam Bankman-Fried Taking the Stand a Huge Mistake?

By CoinDeskOct 31, 2023

SBF TRIAL Podcast 11/03: Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial

Policy

Sam Bankman-Fried Needs Better Answers on the Stand

Bankman-Fried was charming in front of reporters before FTX collapsed. Now he's just defensive.

By Nikhilesh DeOct 31, 2023

FTX's Sam Bankman-Fried exiting a federal courthouse in New York last year. (Nikhilesh De/CoinDesk)

Policy

Bankman-Fried Had a Hairy Day in Court

And he's still got more to go.

By Danny Nelson, Nikhilesh DeOct 31, 2023

Policy

Sam Bankman-Fried's Defense Team Makes Last-Ditch Bid to Get 'English Law' Detail in Jury Instructions

The term may have implications for the fraud charges Bankman-Fried faces.

By Nikhilesh DeOct 31, 2023

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Policy

Sam Bankman-Fried's Post-Collapse Media Blitz Has Clearly Backfired

The FTX founder was grilled Monday by a prosecutor, who used the many words he said to journalists after his crypto company's collapse against him.

By Sam KesslerOct 30, 2023

NEW YORK, NEW YORK - NOVEMBER 30: Andrew Ross Sorkin and Sam Bankman-Fried on stage at the 2022 New York Times DealBook on November 30, 2022 in New York City. (Photo by Thos Robinson/Getty Images for The New York Times)

Videos

Sam Bankman-Fried on the Hot Seat; Hong Kong's New CBDC Report

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, including the Justice Department gearing up for its cross-examination of FTX founder Sam Bankman-Fried during his criminal trial. Animoca Brands has a new partnership with Saudi Arabia's NEOM. And, what a new report says about retail central bank digital currencies (CBDCs) in Hong Kong.

Oct 30, 2023

Podcasts

SBF TRIAL Podcast 10/30: Sam Bankman-Fried Takes The Stand For a Third Day In FTX Fraud Trial

By CoinDeskOct 30, 2023

Videos

Likelihood of Sam Bankman-Fried Convincing the Jury Is 'Zero,' Lawyer Predicts

Hodder Law Firm founder Sasha Hodder weighs in on Sam Bankman-Fried's decision to take the stand in his own defense for his criminal trial and expectations on his performance during the cross-examination. "He's just going to get skinned alive by these seasoned prosecutors," Hodder said. "They are not the people on Twitter spaces who were asking him questions last November."

Oct 30, 2023