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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Sam Bankman-Fried Trial Developments; Report Says Ordinals Protocol Triggered Revival in Bitcoin Development

A federal judge rejected a joint request to modify Sam Bankman-Fried's bail conditions to allow him to use certain messaging tools. Separately, research firm FSInsight said in a recent report that the Ordinals protocol has triggered a revival of interest in bitcoin (BTC) development and has led to an increase in average block size as more users join the network.

Feb 7, 2023

Policy

Sam Bankman-Fried Appeals Judge’s Decision to Reveal Names of His $250M Bond Backers

Judge Lewis Kaplan ruled early last week that the two currently unidentified people who co-signed the bond could be made public.

By Nelson WangFeb 7, 2023

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton, modified by CoinDesk)

Videos

Sam Bankman-Fried's Bail Modification Request Rejected by Judge

U.S. District Judge Lewis Kaplan of the Southern District of New York rejected a joint request to modify former FTX CEO Sam Bankman-Fried's bail conditions to allow him to use certain messaging tools. The motion is "denied without prejudice" until a hearing on Thursday. "The Hash" panel discusses the latest developments.

Feb 7, 2023

Policy

US Prosecutors Ask for Postponement of SEC, CFTC Cases Against Sam Bankman-Fried

The prosecutors are asking that the civil cases be put off until the criminal case against FTX’s founder is decided.

By Nelson WangFeb 7, 2023

FTX founder Sam Bankman-Fried leaves federal court in New York after his arraignment and bail hearings on Dec. 22. (Michael M. Santiago/Getty Images)

Policy

US Judge Rejects Bankman-Fried's Bail Modification Request

The former FTX CEO's attorneys and prosecutors made a joint request to allow him to use certain messaging apps on Monday.

By Nikhilesh DeFeb 7, 2023

FTX founder Sam Bankman-Fried during his extradition to the U.S. (Royal Bahamas Police Force)

Policy

Sam Bankman-Fried Lawyer Says Agreement Has Been Reached on Use of Messaging Apps

The former CEO of FTX was previously barred form using any messaging apps.

By Nelson Wang, Nikhilesh DeFeb 6, 2023

FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

Policy

Independent FTX Examiner Could Cost Crypto Exchange $100M, Court Told

Government and FTX lawyers argued the matter in federal court on Monday.

By Jack SchicklerFeb 6, 2023

Videos

FTX Asks Lawmakers to Return Sam Bankman-Fried's Donations

FTX Group is sending "confidential letters" to politicians and other political beneficiaries of Sam Bankman-Fried, his deputies and his companies, asking them to return the money by the end of the month. This comes as Emergent Fidelity Technologies, a firm co-founded by SBF and former executive Gary Wang, filed for Chapter 11 bankruptcy protection. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses what we know so far.

Feb 6, 2023

Finance

Sam Bankman-Fried's Emergent Fidelity Technologies Files for Bankruptcy

Emergent is owner of 56 million shares of online brokerage Robinhood.

By Nikhilesh DeFeb 3, 2023

Sam Bankman-Fried sticking his tongue out while at Crypto Bahamas earlier this year. (Danny Nelson/CoinDesk)

Videos

Sam Bankman-Fried Negotiating Bail Conditions, Court Filing Says

Counsel for former FTX CEO Sam Bankman-Fried is currently in talks with U.S. prosecutors to “resolve the outstanding issues related to Bankman-Fried’s bail conditions,” according to a court filing. Meanwhile, Proposals to subpoena FTX founder Sam Bankman-Fried, his immediate family and senior staff of the bankrupt crypto exchange have been opposed by the U.S. Trustee. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De breaks down the latest on Sam Bankman-Fried and FTX's hearings.

Feb 3, 2023