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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

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FTX Founder Sam Bankman-Fried’s Attorneys Fire Back at Prosecutors Over Laptop Access

Attorneys for Sam Bankman-Fried are clapping back at the Department of Justice in a new memo Friday, claiming prosecutors exaggerated the amount of access FTX founder really has to defense material. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the arguments in the letter and whether Bankman-Fried has a chance to be released from jail ahead of his trial in October.

Sep 11, 2023, 10:34 a.m. EDT

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DOJ Claims About Sam Bankman-Fried's Laptop Access Are 'Inaccurate', Defense Alleges

Prosecutors said they had fixed most of Bankman-Fried's laptop issues with the defense's help earlier this week. The defense continues to push for a "temporary release."

By Nikhilesh DeSep 8, 2023, 9:49 p.m. EDT

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Videos

Former FTX Executive Ryan Salame Could Forfeit $1.5B as Part of Guilty Plea

Former co-CEO of FTX Digital Markets Ryan Salame pleaded guilty to a number of federal criminal charges tied to the exchange. The former FTX executive has been ordered to forfeit more than $1.5 billion dollars as a part of his plea agreement with the government. CoinDesk's global policy and regulation managing editor Nikhilesh De discusses what Salame's guilty plea means ahead of FTX founder Sam Bankman-Fried's upcoming trial in October.

Sep 8, 2023, 11:02 a.m. EDT

Policy

Ex-FTX Executive Ryan Salame Could Forfeit $1.5B as Part of Guilty Plea

Salame admitted to being a "straw donor” to secretly funnel millions of dollars to Republican political candidates while Bankman-Fried donated to Democrats.

By Sam KesslerSep 7, 2023, 3:17 p.m. EDT

Ryan Salame leaving a New York courthouse on Sept. 7, 2023. (Sam Kessler/CoinDesk)

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Former FTX Executive Ryan Salame Will Plead Guilty to Charges: Bloomberg

Ryan Salame was co-CEO of FTX Digital Markets and handled political donations for the crypto exchange.

By Nick BakerSep 7, 2023, 10:20 a.m. EDT

The streets are clear outside the U.S. Court for the Southern District of New York (Dustin D.)

Videos

Grayscale Fires Back at SEC; Coinbase Eyes Large Institutional Investors

"CoinDesk Daily" host Jennifer Sanasie takes a closer look at the hottest crypto stories today, including what Grayscale said to the SEC about wanting to convert its Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund. Grayscale and CoinDesk are both owned by DCG. Coinbase is creating a new crypto lending service in the U.S. for institutional clients. And, an update on FTX founder Sam Bankman-Fried and his computer access ahead of his trial in October.

Sep 6, 2023, 11:54 a.m. EDT

Videos

FTX's Sam Bankman-Fried Has Access to a Laptop Seven Days a Week, DOJ Says

The U.S. Department of Justice said in a letter that Sam Bankman-Fried has access to a laptop seven days a week and three hard drives with defense material at all times. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the back-and-forth arguments over computer access between prosecutors and lawyers for the jailed FTX founder.

Sep 6, 2023, 10:31 a.m. EDT

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Sam Bankman-Fried's Laptop Has a New Battery Now, DOJ Says

A joint letter filed Tuesday details the amount of access the FTX founder has to discovery material.

By Nikhilesh DeSep 5, 2023, 7:20 p.m. EDT

Sam Bankman-Fried outside court in July 2023. (Nikhilesh De/CoinDesk)

Videos

DOJ Argues Super Bowl Ad Featuring Comedian Larry David Casts Doubt on FTX.US Separation

FTX ads featuring comedian Larry David and football star Tom Brady show a blurring between bankrupt crypto exchange FTX's U.S. and international businesses, the U.S Department of Justice said Friday. CoinDesk regulatory reporter Jack Schickler discusses the latest developments ahead of Sam Bankman-Fried's fraud trial in October.

Sep 5, 2023, 10:42 a.m. EDT

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