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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

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, 1:47 p.m. EST

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, 10:36 a.m. EST

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, 5:16 p.m. EST

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, 12:07 p.m. EST

Finance

Bankman-Fried Family Subpoenas Opposed by US Government in FTX Filing

Plans for FTX and creditors to demand information on dealings would duplicate the work of the independent examiner who has yet to be appointed, the U.S. trustee said.

By Jack SchicklerFeb 3, 2023, 4:44 a.m. EST

Sam Bankman-Fried sale del tribunal federal en la ciudad de Nueva York. (David Dee Delgado/Getty Images)

Finance

Sam Bankman-Fried Negotiating Bail Conditions: Court Filing

Bankman-Fried’s current bail conditions bar contact with current or former employees of FTX and Alameda Research, something the disgraced founder is alleged to be doing.

By Sam ReynoldsFeb 2, 2023, 10:38 p.m. EST

FTX Sam Bankman-Fried arrest press in December (U.S. Attorney's Office for the Southern District of New York)

Videos

Sam Bankman-Fried Barred From Contacting FTX Employees, Using Signal

A New York judge has prohibited Sam Bankman-Fried from attempting to contact any former or current employees of Alameda Research or FTX. Bankman-Fried has also been prohibited from using Signal or other ephemeral messaging applications. Hodder Law Firm Founder and Managing Partner Sasha Hodder discusses the feasibility of enforcing this ruling.

Feb 2, 2023, 11:38 a.m. EST

Videos

FTX Held Roughly $1.4B in Cash at End of 2022

Bankrupt cryptocurrency exchange FTX had around $1.4 billion in cash as of the end of 2022, according to an interim financial update filed on Wednesday. Hodder Law Firm Founder and Managing Partner Sasha Hodder discusses the latest update from FTX's bankruptcy and the implications for creditors.

Feb 2, 2023, 10:37 a.m. EST

Finance

Better Exchange Due Diligence Could Help Define Crypto’s 2023

The CEO of Digital Asset Research, Doug Schwenk, thinks vetting crypto exchanges can open doors to more institutional investment.

By Christopher RobbinsFeb 2, 2023, 9:44 a.m. EST

Videos

Sam Bankman-Fried Banned From Contacting FTX Employees By Judge

A New York judge has prohibited Sam Bankman-Fried from attempting to contact any former or current employees of Alameda Research or FTX. Bankman-Fried has also been prohibited from using Signal or other ephemeral messaging applications. "The Hash" panel discusses the latest developments in FTX's bankruptcy process.

Feb 1, 2023, 1:38 p.m. EST