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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Bernie Madoff’s Former Attorney on FTX Implosion

FTX founder Sam Bankman-Fried is reportedly expected to waive his right to extradition to the U.S. after a confusing Bahamas court appearance Monday that the presiding judge deemed a "waste of time." Ira Lee Sorkin, former attorney for Bernie Madoff, discusses his take on Bankman-Fried's case.

Dec 21, 2022

Finance

Sam Bankman-Fried Reportedly Set for Extradition to the US

A hearing in The Bahamas is set for Wednesday morning, and Bankman-Fried will fly to the U.S. the same day.

By Stephen AlpherDec 21, 2022

FTX founder Sam Bankman-Fried is seen arriving at court on Dec. 19, 2022 in Nassau, Bahamas. (MEGA/GC Images)

Videos

FTX to Seek Retrieving Voluntary Payments From Third Parties

FTX will attempt to recoup voluntary payments made to third parties prior to its collapse, possibly including founder Sam Bankman-Fried's political donations, and pursuing them in court if necessary. Meanwhile, FTX's new management told a procedural hearing Tuesday it had over $1 billion in assets identified. Murphy & McGonigle founder James Murphy discusses the latest in FTX's bankruptcy and what this means for the crypto markets.

Dec 20, 2022

Videos

Examining the Whirlwind Quarter in Crypto

The fourth quarter was a whirlwind for the crypto markets, as investors witnessed the Federal Reserve hike rates in November and December, FTX file for bankruptcy and Sam Bankman-Fried get arrested in the Bahamas. CoinDesk Indices Managing Director Jodie Gunzberg takes a comprehensive look at Q4, based on the CoinDesk Market Ex Stablecoins Index (CMIX) and sector indices.

Dec 20, 2022

Finance

FTX Will Look to Retrieve Voluntary Payments From Third Parties, Possibly Including SBF's Political Donations

FTX said it had been "approached by a number of recipients of contributions or other payments" looking to return them what they had received from Bankman-Fried or other FTX executives.

By Jamie CrawleyDec 20, 2022

FTX founder and former CEO Sam Bankman-Fried (Nikhilesh De/CoinDesk)

Podcasts

Sam Bankman-Fried's Reported Extradition Plans; Twitter Under Elon Musk

By William Foxley, Zack Seward, Jennifer Sanasie, Wendy ODec 19, 2022

Videos

Sam Bankman-Fried’s Bahamas Court Appearance Adds to Confusion

Counsel for Sam Bankman-Fried appeared blindsided by his appearance in a Bahamas court Monday as weekend reports suggested Bankman-Fried had changed his mind and was not going to challenge extradition to the U.S. CoinDesk Regulatory Reporter Cheyenne Ligon breaks down the latest confusion around the former FTX CEO's court appearance.

Dec 19, 2022

Finance

FTX’s Bankman-Fried Gave Ex-Jane Street Traders Who Formed Modulo Capital $400M

Founded in early 2022, Modulo operated out of the same luxury Bahamian condominium community where Sam Bankman-Fried and other FTX employees lived.

By Tracy WangDec 19, 2022

Sam Bankman-Fried speaks at Consensus C22 (CoinDesk)

Finance

Sam Bankman-Fried's Bahamas Court Appearance Adds to Confusion

Earlier reports suggested the former FTX CEO was going to waive any extradition challenge.

By Stephen AlpherDec 19, 2022

Videos

Sam Bankman-Fried Prepares for US Extradition: Reports

Sam Bankman-Fried will no longer contest extradition to the U.S. from the Bahamas, according to multiple media outlets. This comes as Bloomberg reports the former FTX CEO could be extradited to the U.S. as soon as Monday. "The Hash" panel weighs in on the latest legal developments of Sam Bankman-Fried's arrest.

Dec 19, 2022