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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Former FTX Europe Head Pays $1.5M for Gold Watch Recovered From Titanic: WSJ

Gruhn said he bought the watch for his wife, Maren Gruhn, and that they would display the watch in museums, according to the report.

By Amitoj SinghMay 2, 2024

The sinking of the Titanic painted by German artist Willy Stoewer. (Gettyimages/BettmannArchive)

Opinion

As CZ Gets His Sentence, Michael Lewis Should Rewatch 'Star Wars'

He likened FTX's Sam Bankman-Fried to Luke Skywalker and Binance's Changpeng Zhao to Darth Vader. Federal judges saw it differently.

By Nick BakerMay 1, 2024

Michael Lewis (Danny Nelson/CoinDesk, modifed)

Policy

Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters

Bankman-Fried’s one-time friends and co-defendants Caroline Ellison, Gary Wang, and Nishad Singh have already settled with the investors.

By Cheyenne LigonApr 22, 2024

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Policy

Looking at Sam Bankman-Fried's Appeals Process

Bankman-Fried has 91 days to file a brief

By Nikhilesh DeApr 17, 2024

Policy

Elizabeth Warren Demands U.S. CFTC Chair Explain His Chats With SBF

CFTC chief Rostin Behnam previously disclosed there were meetings and messages with FTX's Sam Bankman-Fried, but he hasn't granted another senator's call to see all the records.

By Jesse HamiltonApr 15, 2024

Ex-FTX CEO Sam Bankman-Fried had a lot of interactions with the Commodity Futures Trading Commission, and two senators are demanding details. (Jesse Hamilton/CoinDesk)

Policy

FTX Founder Sam Bankman-Fried Appeals Fraud Conviction

Bankman-Fried was convicted last year on fraud and conspiracy charges.

By Nikhilesh De, Cheyenne LigonApr 11, 2024

FTX founder Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Policy

Is the Sam Bankman-Fried Story Over?

He was sentenced last month. What did we learn?

By Nikhilesh DeApr 10, 2024

Videos

Bitcoin Drops Below $66K; Sam Bankman-Fried Says He Feels Remorse

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as bitcoin fell below $66,500 during the Asian hours as the dollar index rose above 105.00 for the first time since mid-November. Plus, the latest from FTX founder Sam Bankman-Fried after getting a 25-year prison sentence. And, Tron founder Justin Sun asked a New York court to dismiss a lawsuit from the SEC.

Apr 2, 2024

Policy

Sam Bankman-Fried Expresses Remorse for His Actions After Getting a 25-Year Prison Sentence

Last Thursday, while announcing the sentence U.S. District Judge Lewis Kaplan said Bankman-Fried never offered "a word of remorse" for his "terrible crimes."

By Amitoj SinghApr 2, 2024