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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Videos

FTX's Sam Bankman-Fried Wants a 'Temporary Release' From Jail; Is Bitcoin Becoming an Election Issue?

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories in crypto today, including attorneys for Sam Bankman-Fried wanting to secure the FTX founder a "temporary release." Arkham Intelligence data shows trading platform Robinhood holds a significant amount in bitcoin (BTC) in a single wallet. And, Cathie Wood is speaking out on crypto's influence in the upcoming U.S. presidential elections.

Aug 28, 2023, 2:21 p.m. EDT

Policy

Sam Bankman-Fried Appeals Decision Jailing Him Ahead of Trial: Reuters

A judge had previously revoked bail for Bankman-Fried after he tried to tamper with witnesses. His lawyers argue that it is his constitutional right to have a fair chance to prepare for trial.

By Helene BraunAug 28, 2023, 2:07 p.m. EDT

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

Videos

FTX Founder Sam Bankman-Fried's Attorneys Renew Push for 'Temporary Release' Ahead of October Trial

FTX founder Sam Bankman-Fried's attorneys have filed a new motion to secure his "temporary release" from jail for his legal defense work. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the latest filings and Judge Lewis Kaplan's previous response to the request.

Aug 28, 2023, 11:06 a.m. EDT

Policy

Sam Bankman-Fried's Defense Renews Push for 'Temporary Release' Ahead of October Trial

The FTX founder's bond was revoked earlier this month, after a judge found he had violated his bail conditions on at least two occasions.

By Nikhilesh DeAug 27, 2023, 11:19 p.m. EDT

Sam Bankman-Fried, middle, walks into court on Aug. 11, 2023. (Victor Chen/CoinDesk)

Videos

Criminal Defense Attorney Reacts to Tornado Cash Indictment, SBF's Defense Strategy

Two Tornado Cash developers face allegations of money laundering and sanctions violations. Tully & Weiss Criminal Defense Attorney Joseph Tully discusses his reaction, drawing parallels to the legal considerations of Napster and Silk Road. Plus, what to make of the latest developments around Sam Bankman-Fried as the FTX founder settles on a defense strategy ahead of his criminal trial this October.

Aug 24, 2023, 11:12 a.m. EDT

Policy

Sam Bankman-Fried’s Lawyers Given Green Light for Unlimited Prison Visits

The FTX founder's lawyers will visit him in prison to prepare their defense after a judge denied Bankman-Fried’s request to have daily meetings at his lawyers’ Manhattan office.

By Elizabeth NapolitanoAug 24, 2023, 7:25 a.m. EDT

Videos

Sam Bankman-Fried's Defense Strategy; Binance.US Customers Now Have Access to MoonPay

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as bitcoin hovers around $26,300 and XRP has lost nearly all its gains since the historic Ripple ruling. FTX founder Sam Bankman-Fried has settled on a legal strategy ahead of his criminal trial this October. The FBI is warning North Korean hackers could try to sell millions of dollars worth of bitcoin. And, Binance.US customers now have access to MoonPay.

Aug 23, 2023, 2:35 p.m. EDT

Videos

Could Sam Bankman-Fried's 'Blame-the-Lawyers' Strategy Work?

Sam Bankman-Fried's defense team published a letter detailing a planned "advice of counsel" strategy, which argues that the FTX founder was acting in "good faith" in loaning funds to FTX and Alameda executives because he was following the advice of lawyers, including law firm Fenwick & West. "The Hash" panel weighs in on the latest developments in the case.

Aug 23, 2023, 2:33 p.m. EDT

Videos

FTX Founder Sam Bankman-Fried Intends to Blame Fenwick & West Lawyers in His Defense

Sam Bankman-Fried intends to argue he was acting in "good faith" in loaning funds to FTX and Alameda executives, in setting Signal messages to auto-delete and in setting up a set of North American entities because he was following the advice of lawyers, including law firm Fenwick & West. CoinDesk's global policy and regulation managing editor Nikhilesh De discusses the latest developments and what happened inside the courtroom during Bankman-Fried's Tuesday arraignment.

Aug 23, 2023, 10:56 a.m. EDT

Policy