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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

(One Part of) Sam Bankman-Fried's Defense Strategy Starts Paying Off

The defense team landed some hits during its cross-examination of a key witness against Sam Bankman-Fried.

By Nikhilesh De, Sam KesslerOct 18, 2023

Policy

Sam Bankman-Fried Dined With Eric Adams at NYC Mayor’s Go-To Italian Restaurant

Erstwhile crypto titan and avowed vegan Sam Bankman-Fried was also scheduled to meet New York Gov. Kathy Hochul at The Capital Grille steakhouse, according to FBI trial testimony.

By Danny NelsonOct 17, 2023

New York Mayor Eric Adams (Danny Nelson/CoinDesk)

Policy

Bahamian Prime Minister Asked Sam Bankman-Fried to Give His Son Advice on NFT Project

An email mentioning NFTs from Philip Davis was presented in court on Tuesday as part of prosecutors’ fraud case against the FTX founder.

By Helene BraunOct 17, 2023

Bahamian Prime Minister Philip Davis, right, meets Pope Francis (Vatican Media via Vatican Pool/Getty Images)

Podcasts

SBF TRIAL PODCAST 10/17: Why FTX Executive Nishad Singh Felt ‘Suicidal’ in Crypto Exchange’s Final Days

By CoinDeskOct 17, 2023

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

Videos

The SBF Trial: Ex-FTX Exec Nishad Singh Back in Court; Binance.US Halts Direct Dollar Withdrawals

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including the latest witness testimony in the Sam Bankman-Fried trial from former senior FTX executive Nishad Singh. Plus, the amended proposal that bankrupt crypto exchange FTX has floated to return up to 90% of creditor holdings. And, Binance.US users can no longer withdraw dollars directly from the platform after the exchange updated its terms of use.

Oct 17, 2023

Policy

For Once, Sam Bankman-Fried's Lawyer Lands a Punch at FTX CEO's Criminal Trial

Under questioning from defense attorney Mark Cohen, a former FTX exec and government witness admitted to some hazy memories.

By Nikhilesh De, Sam Kessler, Danny NelsonOct 17, 2023

Former FTX exec Nishant Singh leaving court on Oct. 17 (Danny Nelson/CoinDesk)

Videos

Ex-FTX Exec Nishad Singh Back in Court After Testifying about Sam Bankman-Fried's 'Excess' Spending

Former FTX executive Nishad Singh is testifying before jurors again Tuesday as Sam Bankman-Fried's criminal trial continues. Singh, who said he knew around $8 billion of FTX customers’ money had gone missing, was once part of Bankman-Fried’s inner circle. CoinDesk executive director of global content Emily Parker describes the latest legal proceedings.

Oct 17, 2023

Policy