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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

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Solana Surges as Memecoin Bonk Fires Up Community Interest

Solana's SOL token has been jumping in the past 24 hours, while other cryptocurrencies like bitcoin (BTC) and ether (ETH) are trading sideways. This comes as interest in the Solana community is swirling around the decision by the newly launched shiba inu-themed token Bonk (BONK) to do a large airdrop. "The Hash" panel discusses what this means for the ecosystem at large, as the token has faced recent selling pressure due in part to Solana's close links to Sam Bankman-Fried.

Jan 3, 2023

Policy

Previewing FTX Founder Sam Bankman-Fried’s Not Guilty Plea in Court

The third day of 2023 to the U.S. federal court system is Sam Bankman-Fried's arraignment, which will take place at 500 Pearl St. in Manhattan

By Nikhilesh DeJan 3, 2023

Fundador de FTX, Sam Bankman-Fried. (David Dee Delgado/Getty Images)

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Sam Bankman-Fried's Lawyers Ask Court To Redact Identities of $250M Bail Co-Signers

Court filings reveal that lawyers for Sam Bankman-Fried have asked a judge to redact the names and identifying information of the two co-signers, in addition to his parents, for the former FTX CEO's $250 million bail. "The Hash" panel discusses the latest legal developments ahead of the former FTX CEO's appearance in a New York City court Tuesday afternoon.

Jan 3, 2023

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Solana Foundation Exec on FTX and Alameda's Impact on the Ecosystem

Sam Bankman-Fried was a prominent backer of Solana, and the token has faced recent selling pressure in the wake of FTX's collapse. Solana's Head of Strategy and Communications, Austin Federa, discusses the current state of the ecosystem amid lingering crypto contagion concerns.

Jan 3, 2023

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Expert Compares Sam Bankman-Fried's Downfall to Bernie Madoff

Champel Capital Co-Founder Amir Weitmann, who has written a book on Bernie Madoff, compares the American fraudster to Sam Bankman-Fried. Madoff "was not promising his investors incredible returns," he says.

Jan 3, 2023

Videos

FTX Founder Sam Bankman-Fried Expected To Enter Not Guilty Plea: Report

FTX Founder Sam Bankman-Fried awaits arraignment in New York federal court, where he is reportedly expected to plead not guilty, according to the Wall Street Journal. Champel Capital Co-Founder Amir Weitmann discusses his take on the FTX implosion and how it compares to the Bernie Madoff scandal. Plus, his outlook for VC crypto investments.

Jan 3, 2023

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What to Expect from Sam Bankman-Fried's Court Appearance

FTX founder Sam Bankman-Fried is expected to plead not guilty to eight different charges at his arraignment in New York, according to a report from the Wall Street Journal. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De weighs in on what to expect from today's court proceedings.

Jan 3, 2023

Policy