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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Levels to Watch Amid SBF Arrest, FTX Fraud Charges

Wave Financial CEO David Siemer discusses his outlook for bitcoin and the wider crypto markets as FTX founder Sam Bankman-Fried faces criminal charges from multiple authorities, and the U.S. Federal Reserve raises interest rates by half percent.

Dec 15, 2022, 4:02 p.m. EST

Policy

US Government Wants to ‘Send a Message’ to Crypto With SBF’s Arrest, Says Former US Prosecutor

Renato Mariotti, now a partner at international law firm Bryan Cave Leighton Paisner, discusses why regulators are “eager to plant a flag” on the crypto industry.

By Fran VelasquezDec 15, 2022, 2:46 p.m. EST

Videos

Sam Bankman-Fried Soured US Govt's View on Crypto: Former Federal Prosecutor

"I don't expect any industry-friendly regulation" in the short term, says Renato Mariotti, partner at law firm Bryan Cave Leighton Paisner and former federal prosecutor. He shares his regulatory outlook following the arrest of Sam Bankman-Fried.

Dec 15, 2022, 11:09 a.m. EST

Videos

Understanding the Charges Brought Against Sam Bankman-Fried

FTX founder and former CEO Sam Bankman-Fried faces a litany of charges from the Department of Justice, U.S. Securities and Exchange Commission (SEC) and CFTC (Commodity Futures Trading Commission) as he sits in jail in the Bahamas. Renato Mariotti, partner at law firm Bryan Cave Leighton Paisner and former federal prosecutor, breaks down the charges.

Dec 15, 2022, 10:54 a.m. EST

Markets

The FTX Meltdown Calls for Higher Standards in Crypto Journalism

Revelations that Bankman-Fried secretly funded crypto news publisher The Block deepened mistrust of the crypto industry.

By Christopher RobbinsDec 15, 2022, 9:00 a.m. EST

Policy

Top FTX Group Executive Tipped Off Bahamas Authorities About Commingling of Funds in November

Former CEO Sam Bankman-Fried has said he didn't know of any comingling of funds between his companies.

By Eliza GkritsiDec 15, 2022, 1:38 a.m. EST

Sam Bankman-Fried (Danny Nelson/CoinDesk)

Policy

After Sam Bankman-Fried's Arrest, the FTX Show Goes On

Sam Bankman-Fried was arrested, Congress is holding multiple hearings and FTX’s bankruptcy case continues to work its way through court.

By Nikhilesh DeDec 14, 2022, 5:00 p.m. EST

U.S. Attorney Damian Williams announcing the Department of Justice's charges against Sam Bankman-Fried (Stephanie Keith/Getty Images)

Videos

Sen. Pat Toomey on FTX Collapse: 'Code Committed No Crime'

"Code committed no crime," Sen. Pat Toomey (R-Pa.) said Wednesday during a U.S. Senate hearing on the collapse of Sam Bankman-Fried's crypto exchange FTX. "With FTX, the problem was not with the instruments that were used. The problem was the misuse of customer funds."

Dec 14, 2022, 4:16 p.m. EST

Videos

Inside Sam Bankman-Fried’s First Bahamas Court Hearing After His Arrest

Sam Bankman-Fried, former CEO of crypto exchange FTX, told a Bahamas judge Tuesday he was not waiving his right to fight extradition to the United States. CoinDesk Regulatory Reporter Cheyenne Ligon, who was in the courtroom, shares her insights into Bankman-Fried's first court hearing since his arrest and what could happen next.

Dec 14, 2022, 4:16 p.m. EST

Policy

Sam Bankman-Fried Was a ‘Pathological Liar’: Congressman

Rep. Ritchie Torres (D-N.Y.) discusses how the disgraced former CEO “misled the public,” and what he did with Bankman-Fried’s $2,900 political donation.

By Fran VelasquezDec 14, 2022, 4:13 p.m. EST