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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Bitcoin Drops Below $66K; Sam Bankman-Fried Says He Feels Remorse

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as bitcoin fell below $66,500 during the Asian hours as the dollar index rose above 105.00 for the first time since mid-November. Plus, the latest from FTX founder Sam Bankman-Fried after getting a 25-year prison sentence. And, Tron founder Justin Sun asked a New York court to dismiss a lawsuit from the SEC.

Apr 2, 2024, 11:52 a.m. EDT

Policy

Sam Bankman-Fried Expresses Remorse for His Actions After Getting a 25-Year Prison Sentence

Last Thursday, while announcing the sentence U.S. District Judge Lewis Kaplan said Bankman-Fried never offered "a word of remorse" for his "terrible crimes."

By Amitoj SinghApr 2, 2024, 1:19 a.m. EDT

Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Policy

SBF Is Going to Prison for 25 Years

A judge sentenced Bankman-Fried to a quarter century after a brief hearing.

By Cheyenne Ligon, Nikhilesh DeMar 29, 2024, 6:00 a.m. EDT

Opinion

Sam Bankman-Fried Deserves a Life After Prison

He did incalculable harm, but arguing for a sentence longer than 25 years is unfair to the man and the industry he once represented.

By Daniel KuhnMar 28, 2024, 12:49 p.m. EDT

Policy

Sam Bankman-Fried Sentenced to 25 Years in Prison

The former FTX CEO was convicted of seven counts of fraud and conspiracy in November, a year after the once-giant cryptocurrency exchange collapsed.

By Nikhilesh De, Sam Kessler, Cheyenne LigonMar 28, 2024, 9:30 a.m. EDT

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

Policy

Recapping FTX Founder Sam Bankman-Fried's Trial

Bankman-Fried's sentencing kicks off in a few hours.

By Helene BraunMar 28, 2024, 6:00 a.m. EDT

Policy

How Sam Bankman-Fried's Sentencing Hearing May Play Out

He faces decades in prison.

By Nikhilesh DeMar 27, 2024, 6:00 a.m. EDT

Videos

How Many Years in Jail Will Sam Bankman-Fried Get? Nigeria Charged Binance With Tax Evasion

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Coinbase research report that looked at bitcoin ETFs' first week of net outflows in two months. Plus, Nigerian authorities charged Binance with tax evasion and traders bet on how many years Sam Bankman-Fried will be sentenced to.

Mar 25, 2024, 1:07 p.m. EDT