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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Finance

Robinhood to Buy Back Sam Bankman-Fried's Stake for $605.7M

The 55 million HOOD shares were owned by Sam Bankman-Fried and fellow FTX co-founder Gary Wang through Emergent Fidelity Technologies

By Jamie CrawleySep 1, 2023, 9:42 a.m. EDT

Robinhood app on a smartphone (Shutterstock)

Videos

Sam Bankman-Fried Lawyers Told Judge They ‘Need’ Him Out of Jail Ahead of Trial

Sam Bankman-Fried’s lawyers said in a Wednesday hearing that they "need" the FTX founder to be released temporarily from jail for his legal defense work, but the defense team failed to win any major concessions. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the scenes at the hearing.

Aug 31, 2023, 11:11 a.m. EDT

Policy

Sam Bankman-Fried Lawyers ‘Need’ Him Out Of Jail Ahead of Trial, They Tell Judge

The former FTX CEO-turned criminal defendant's team said they have “no faith” in prosecutors’ claimed efforts to address his jailhouse woes.

By Danny Nelson, Helene BraunAug 30, 2023, 2:44 p.m. EDT

Videos

FTX Founder Sam Bankman-Fried’s Planned Defense ‘Irrelevant’ Without More Details, Govt Says

Lawyers for the Department of Justice said in a Tuesday legal filing that Sam Bankman-Fried’s plan to argue his lawyers approved alleged fraud during his time at FTX should be struck down for being “irrelevant." "The Hash" panel discusses the FTX founder's defense strategy and the latest developments in Bankman-Fried’s case.

Aug 30, 2023, 1:38 p.m. EDT

Videos

Sam Bankman-Fried's Proposed Expert Witnesses Should All Be Barred From Testifying: DOJ

The Department of Justice said in a filing that all of Sam Bankman-Fried's proposed witnesses should be disqualified from testifying. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the latest filings as prosecutors push back on complaints and allegations from the FTX founder's defense team.

Aug 30, 2023, 10:42 a.m. EDT

Policy

Sam Bankman-Fried's Allotted Prison Tech Is Inconvenient, but Fair: U.S. DOJ

Federal prosecutors say the FTX founder's access to technology in pretrial detention goes "above and beyond '' that which other defendants have been offered.

By Elizabeth NapolitanoAug 30, 2023, 7:05 a.m. EDT

Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk)

Policy

Sam Bankman-Fried’s Planned Defense ‘Irrelevant’ Without More Details, Govt Says

The FTX founder’s constitutional rights are being violated because he is ‘unable’ to prepare his defense from jail, his lawyers argued

By Jack SchicklerAug 30, 2023, 3:32 a.m. EDT

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

Videos

Court Rules SEC Must Review Grayscale's Bitcoin ETF Bid; Francis Suarez Ends Presidential Campaign

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories in crypto today, as the markets react after the U.S. Court of Appeals potentially paved the way for spot bitcoin ETFs. A secret court filing related to Binance has some wondering whether more bad news is coming. The Justice Department says Sam Bankman-Fried’s proposed witnesses should be disqualified from testifying. Plus, crypto-friendly Miami mayor Francis Suarez suspends his presidential bid.

Aug 29, 2023, 2:46 p.m. EDT

Policy

Sam Bankman-Fried's Complaints About Discovery Are 'Misleading,' DOJ Says

Prosecutors push back on the ex-FTX CEO’s claims that they’re dumping too many documents on him, responding that the evidence had been at his fingertips for months.

By Sam Kessler, Elizabeth NapolitanoAug 29, 2023, 12:51 p.m. EDT