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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Podcasts

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

By William Foxley, Zack Seward, Jennifer Sanasie, Wendy ODec 19, 2022, 5:43 p.m. EST

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, 4:40 p.m. EST

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, 4:05 p.m. EST

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, 1:18 p.m. EST

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, 1:12 p.m. EST

Videos

Sam Bankman-Fried Expected to Accept US Extradition: Reports

FTX founder and former CEO Sam Bankman-Fried will no longer contest extradition to the U.S. from the Bahamas, multiple media outlets have reported. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses his change of heart and what this means for his extradition hearing on Feb. 8.

Dec 19, 2022, 10:38 a.m. EST

Policy

Sam Bankman-Fried Won’t Contest US Extradition: Reports

The change of heart suggests the founder of the crypto exchange founder could leave his notorious Bahamas jail.

By Jack SchicklerDec 19, 2022, 5:57 a.m. EST

The US Department of Justice unveiled charges against Sam Bankman-Fried on Dec. 13. (Stephanie Keith/Getty Images)

Consensus Magazine

The Faulty Moral Universe of Sam Bankman-Fried

The FTX CEO's legal-scholar mother believed personal responsibility was an outdated concept. Did those ideas create a monster?

By David Z. MorrisDec 16, 2022, 12:31 p.m. EST

AI Artwork Sam Bankman-Fried SBF in Prison concept (Midjourney/CoinDesk)

Policy

Media Groups Win Right to Argue for Publication of FTX’s Million-Strong Creditor List

A final decision on whether to publish the names, which the collapsed crypto exchange says could advantage competitors and breach privacy laws, will follow in January.

By Jack SchicklerDec 16, 2022, 11:04 a.m. EST