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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Policy

Judge Denies Sam Bankman-Fried's Bid to Highlight 'Inconsistent Statements' by FTX Insiders Gary Wang, Nishad Singh

The duo testified at SBF's trial.

By Nikhilesh DeOct 25, 2023

Nishad Singh, left, exits a federal courthouse after testifying on Oct. 16, 2023 (Nikhilesh De/CoinDesk)

Policy

Sam Bankman-Fried to Testify at His Criminal Trial as Soon as Thursday

The FTX founder will directly appeal to jurors in his bid to prove he did not commit, or conspire to commit, fraud before his crypto juggernaut's spectacular collapse.

By Helene Braun, Nikhilesh DeOct 25, 2023

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Podcasts

SBF TRIAL Podcast 10/25: Sam Bankman-Fried's Defense May Depend on Character and Fact Witnesses

By CoinDeskOct 25, 2023

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

Finance

Sam Bankman-Fried’s Defunct Exchange FTX Receives Multiple Bids for Restart

Options also include a sale of the exchange, which boasted 9 million users before going bankrupt.

By Shaurya MalwaOct 25, 2023

Close up of former FTX CEO Sam Bankman-Fried

Policy

Sam Bankman-Fried's Defense May Depend on Character and Fact Witnesses

The FTX founder will call six witnesses to kick off his defense, a filing said.

By Elizabeth Napolitano, Nikhilesh DeOct 25, 2023

Policy

Sam Bankman-Fried Defense Has 6 Witnesses to Open With: DOJ

The DOJ filing did not name any of the potential defense witnesses, and it's still unclear whether Bankman-Fried himself will testify.

By Nikhilesh DeOct 24, 2023

Podcasts

SBF TRIAL PODCAST 10/24: Will Sam Bankman-Fried Take the Stand this week?

By CoinDeskOct 24, 2023

Videos

Bitcoin Hits 17-Month High Amid Spot Bitcoin ETF Hype; Sam Bankman-Fried's Defense Plans

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, after bitcoin (BTC) briefly pushed past $35,000 toward the end of the U.S. trading day on Monday. CFTC Commissioner Summer Mersinger weighs in on what this spike in institutional interest means during CoinDesk's State of Crypto 2023 event in Washington, D.C. And, an update on Sam Bankman-Fried's criminal trial.

Oct 24, 2023