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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Heads to Court; SEC Extends Review of Cathie Wood's Spot Bitcoin ETF

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as the SEC pushes its review of the Ark 21Shares bitcoin ETF application. Sources tell CoinDesk beleaguered crypto custodian Prime Trust could face layoffs. A new report reveals the potential impact of PayPal's stablecoin debut. And, FTX founder Sam Bankman-Fried heads to court, as a judge could decide if he should be sent back to jail ahead of his trial.

Aug 11, 2023, 2:43 p.m. EDT

Opinion

Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth

The FTX and Alameda Research founder didn’t just violate his bail — he violated the trust of his family’s last remaining allies.

By David Z. MorrisAug 11, 2023, 1:08 p.m. EDT

FTX founder Sam Bankman-Fried in March of 2023. He could be returning to jail early if a court decides he has violated conditions of his bail. (Michael M. Santiago/Getty Images)

Videos

Could FTX's Sam Bankman-Fried Go to Jail?

Sam Bankman-Fried is set to appear at a hearing on Friday for a judge to decide whether the disgraced founder of FTX is going to jail before his trial in October over sharing former Alameda Research CEO Caroline Ellison's diary with the New York Times. CoinDesk's global policy and regulation managing editor Nikhilesh De shares his prediction. Plus, the latest on crypto exchange Bittrex's $24 million fine.

Aug 11, 2023, 12:38 p.m. EDT

Policy

Campaign-Finance Charges Are Back on the Menu

Sam Bankman-Fried isn't escaping the charge as he faces potential jail time ahead of his trial.

By Nikhilesh DeAug 11, 2023, 11:30 a.m. EDT

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Videos

FTX Founder Sam Bankman-Fried Will Still Face Campaign Finance-Related Charge: DOJ

The U.S. Department of Justice still plans to bring a campaign finance-related charge against Sam Bankman-Fried. This comes after prosecutors had dropped a campaign finance charge against the FTX founder last month. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the charges that will be brought against the FTX founder. Plus, the latest on Ryan Salame, as Bloomberg reports that the former FTX executive is in talks with federal prosecutors.

Aug 9, 2023, 11:33 a.m. EDT

Videos

PayPal's Stablecoin Splash; Sam Bankman-Fried Still on the Hook for Campaign Finance-Related Charge

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, including what stablecoin players think of fintech giant PayPal launching its own PYUSD token. Bitcoin bulls Cathie Wood and Mike Novogratz, both vocalized their optimism over a spot Bitcoin ETF approval in the U.S.. And, the Department of Justice still plans to argue that FTX founder Sam Bankman-Fried conducted an "illegal campaign finance" scheme when he goes to trial in October.

Aug 8, 2023, 3:44 p.m. EDT

Policy

Former FTX Exec Ryan Salame Talking to Prosecutors About Plea Deal: Bloomberg

It was not known whether Salame would cooperate with prosecutors and testify against FTX co-founder and CEO Sam Bankman-Fried.

By Nelson WangAug 8, 2023, 3:21 p.m. EDT

Policy

Sam Bankman-Fried Will Still Face Campaign Finance-Related Charge, Justice Department Says

Prosecutors had dropped a campaign-finance charge against the FTX founder last month.

By Nikhilesh DeAug 8, 2023, 12:44 p.m. EDT

Markets

Sino Global Files $67M Claim Against FTX-Alameda

Sino Global invested in tokens heavily affected by the decline of Sam Bankman-Fried's FTX crypto empire and partnered with FTX on a fund raised with outside investors' capital.

By Sam ReynoldsAug 7, 2023, 10:35 a.m. EDT

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

Videos

Could FTX's Sam Bankman-Fried Go to Jail Ahead of His Trial?

Sam Bankman-Fried's defense isn't denying that he shared former Alameda Research CEO Caroline Ellison's diary with the New York Times, and therefore he should be "detained pending trial," according to the latest filing from the U.S. Department of Justice. "The Hash" panel weighs in on the legal road ahead for the disgraced FTX founder.

Aug 4, 2023, 1:23 p.m. EDT