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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Policy

Sam Bankman-Fried Hit With Additional Bank Fraud Charges in New Indictment

The document calls on the former FTX CEO to forfeit hundreds of millions of dollars' worth of assets, which in many cases have already been seized by the U.S. government.

By Nikhilesh De, Jack Schickler, Sandali HandagamaFeb 23, 2023

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

Policy

Sam Bankman-Fried’s Lawyers Move to Quash Voyager Subpoena

The former exchange CEO's lawyers say the subpoena is procedurally deficient, presents an undue burden,and potentially violates Bankman-Fried's Fifth Amendment rights.

By Sam ReynoldsFeb 22, 2023

Sam Bankman-Fried outside U.S. District Court on Feb. 9, 2023 (Liz Napolitano/CoinDesk)

Videos

CoinDesk Wins Polk Award for Explosive FTX Coverage

CoinDesk journalists Ian Allison and Tracy Wang won a George Polk Award for the scoop that led to FTX founder Sam Bankman-Fried's $32 billion cryptocurrency empire collapsing in days and for two explosive follow-up stories. CoinDesk Senior Reporter Ian Allison and Finance and Deals Deputy Managing Editor Tracy Wang share their insights after winning the prestigious prize for their financial reporting.

Feb 21, 2023

Finance

CoinDesk Wins a Polk Award, One of Journalism's Top Prizes, for Explosive FTX Coverage

Three stories were honored, including Ian Allison’s scoop that led to Sam Bankman-Fried’s $32 billion crypto empire collapsing in days.

By Nick Baker, Marc HochsteinFeb 20, 2023

Finance

Voyager Creditors Subpoena Sam Bankman-Fried, Other Former FTX, Alameda Executives

Voyager’s creditors also subpoenaed Samuel Trabucco, Nishad Singh, Gary Wang, and Caroline Ellison.

By Sam ReynoldsFeb 20, 2023

Voyager's bankrupcy has left creditors in the lurch. (Danny Nelson/CoinDesk)

Policy

Former FTX Executive Nishad Singh Planning to Plead Guilty to Fraud: Bloomberg

Singh, the former engineering director for the collapsed crypto exchange, was a member of Bankman-Fried’s inner circle.

By Cheyenne Ligon, Tracy WangFeb 17, 2023

Policy

BlockFi Looks to Dismiss Bankruptcy Case for SBF’s Robinhood Shell Company

Emergent Fidelity’s case is "futile," says the bankrupt crypto lender seeking access to its 55 million Robinhood shares.

By Jack SchicklerFeb 17, 2023

Policy

Bankman-Fried $250M Bond Is a ‘Joke,’ Claims Securities Lawyer

“MetaLawMan” James Murphy says that in 30 years of experience he has “never seen anything this lenient in a situation” where someone has lost millions of dollars of users’ money.

By Fran VelasquezFeb 16, 2023

El fundador de FTX, Sam Bankman-Fried, vuelve a comparecer ante el tribunal en las Bahamas. (Joe Raedle/Getty Images)

Policy

Bankman-Fried Remains Out on Bond, but Judge Warns ‘Revocation’ Proceedings Possible in Future

Federal Judge Lewis Kaplan warned Sam Bankman-Fried that he could hold a hearing to revoke the FTX founder’s bond should SBF continue violating court orders.

By Cheyenne LigonFeb 16, 2023