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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Risks Another Sam Bankman-Fried if U.S. Doesn't Provide Clear Regulation

Sheila Warren, CEO of the Crypto Council for Innovation, looks at regulatory advancements around the world, which disincentive bad behavior and create a path to accountability.

By Sheila WarrenOct 9, 2023, 10:20 a.m. EDT

Sheila Warren writes Sam Bankman-Fried's case is a "tale as old as fraud." (Jesse Hamilton/CoinDesk)

Policy

The DOJ Has Come Out Swinging in the Sam Bankman-Fried Trial

Alameda owed FTX $11 billion it didn’t have.

By Helene Braun, Nikhilesh DeOct 9, 2023, 6:00 a.m. EDT

Policy

DOJ Wants to Block Sam Bankman-Fried From Bringing Up Anthropic AI Raise in Court

FTX owns a stake in Anthropic which was worth $500 million last year.

By Nikhilesh DeOct 8, 2023, 11:30 p.m. EDT

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

Podcasts

Did Sam Bankman-Fried Have Intent to Defraud FTX Investors?

By Laura ShinOct 6, 2023, 2:01 p.m. EDT

Videos

The SBF Trial Week 1: Here’s What You Missed

The first week of the Sam Bankman-Fried's criminal trial is wrapping up. "CoinDesk Daily" host Jennifer Sanasie shares some of the key legal developments including jury selection, opening arguments and witness testimony from FTX co-founder Gary Wang.

Oct 6, 2023, 11:50 a.m. EDT

Podcasts

SBF TRIAL PODCAST: 10/06 Update

By CoinDeskOct 6, 2023, 11:35 a.m. EDT

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

Policy

Former Alameda Research CEO Caroline Ellison to Testify Tuesday in Sam Bankman-Fried Trial

Gary Wang, a former top lieutenant in Bankman-Fried’s empire, testified that Alameda had “special privileges” at FTX that allowed the hedge fund to spend $8 billion of exchange customers’ money.

By Danny Nelson, Helene Braun, Elizabeth NapolitanoOct 6, 2023, 11:26 a.m. EDT

Sam Bankman-Fried (Liz Napolitano/CoinDesk)

Videos

Sam Bankman-Fried's Trial Kicks Off; Singapore Grants Crypto Licenses to Coinbase, Ripple

Host Megha Chaddah breaks down the latest developments in Sam Bankman-Fried's case as the FTX founder is goes to court in a New York. Plus, insights on the state of crypto adoption in Asia as Coinbase and Ripple secure full licenses for crypto payment services in Singapore. Those stories and other news shaping the cryptocurrency world are in this episode of "Forkast IQ."

Oct 6, 2023, 10:51 a.m. EDT

Videos

Sam Bankman-Fried's Trial: A Look Inside the Courtroom

CoinDesk's global policy and regulation managing editor Nikhilesh De shares the details of what it's been like inside the courtroom for FTX founder Sam Bankman-Fried's ongoing trial. Plus, insights on testimonies from witnesses including the exchange's co-founder Gary Wang.

Oct 6, 2023, 10:30 a.m. EDT

Policy