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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Policy

House Financial Services Chief Waters Not Planning to Subpoena Sam Bankman-Fried: Report

However, Waters tweeted on Wednesday evening that "lies are circulating" that she's not willing to subpoena the disgraced former head of FTX.

By Nelson WangDec 7, 2022, 5:00 p.m. EST

Rep. Maxine Waters (Sarah Morris/Getty Images)

Opinion

Be Patient: Sam Bankman-Fried Could Go to Prison for a Very, Very Long Time

The former wonder boy could be behind bars for life, according to U.S. federal sentencing guidelines.

By David Z. MorrisDec 7, 2022, 12:16 p.m. EST

Videos

Sam Bankman-Fried Hires High-Profile Defense Attorney: Reuters

According to Reuters, Sam Bankman-Fried has retained high-profile defense attorney Mark Cohen, citing confirmation from Bankman-Fried's spokesperson Mark Botnick. A partner at Cohen & Gresser, Mark Cohen is a former federal prosecutor and recently represented Ghislaine Maxwell in her sex trafficking trial. "First Mover" hosts Christine Lee and Lawrence Lewitinn discuss the latest developments.

Dec 7, 2022, 11:47 a.m. EST

Finance

Sam Bankman-Fried Hires Mark Cohen as His Attorney: Reuters

The former head of the now-bankrupt crypto exchange, Bankman-Fried has yet to be charged with any crimes.

By Stephen AlpherDec 6, 2022, 3:59 p.m. EST

Podcasts

SBF Declines a Congressional Invite; Alameda CEO Is Seen in New York City

By Nathaniel WhittemoreDec 5, 2022, 5:15 p.m. EST

Podcasts

Crypto Update | What a Securities Lawyer Would Ask FTX’s Bankman-Fried

By Adrian Blust, Adam B. LevineDec 5, 2022, 4:15 p.m. EST

Weekend Story | The Short-Sightedness of Run-Amok Regulators

Videos

Sam Bankman-Fried Is One of CoinDesk’s Most Influential 2022

The 30-year-old CEO of FTX shocked the world when his $40 billion crypto empire collapsed last month, with billions in customer assets still unaccounted. That's why Sam Bankman-Fried is one of CoinDesk’s Most Influential 2022. CoinDesk Deputy Managing Editor Tracy Wang joins "All About Bitcoin" to discuss.

Dec 5, 2022, 4:11 p.m. EST

Finance

Bankman-Fried Is a ‘Master of Deflection,’ Securities Lawyer Says

James Murphy said the FTX founder has used his interviews with the media to say falsely that his actions weren't intentional.

By Fran VelasquezDec 5, 2022, 2:11 p.m. EST

Securities lawyer James A. Murphy says FTX founder Sam Bankman-Fried will soon be facing criminal charges. (Murphy & McGonigle, P.C.)

Policy

El testimonio del nuevo CEO de FTX es “falso”, según Bankman-Fried

El fundador del exchange de criptomonedas dijo que la documentación existía, a pesar de que John Ray continúe quejándose de que tenían malos controles.

By Jack SchicklerDec 5, 2022, 1:43 p.m. EST