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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Finance

Former FTX CEO Sam Bankman-Fried: 'I Didn’t Knowingly Commingle Funds'

In a highly anticipated interview at Wednesday’s DealBook Summit, Sam Bankman-Fried expressed regret over his exchange's collapse, but clung to the narrative that it was a bet gone wrong.

By Tracy WangDec 1, 2022

Andrew Ross Sorkin speaks with FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

Opinion

FTX’s Collapse Was a Crime, Not an Accident

Sam Bankman-Fried is a con man and fraudster of historic proportions. But you might not learn that from the New York Times, CoinDesk's Chief Insights Columnist David Z. Morris writes.

By David Z. MorrisNov 30, 2022

Opinion

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

New York Times columnist Aaron Ross Sorkin will interview Sam Bankman-Fried at the DealBook Summit. Here are 10 questions a practiced fraud lawyer would ask the former chief executive.

By James A. MurphyNov 30, 2022

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton/CoinDesk)

Policy

Sam Bankman-Fried Called to FTX Hearing by Texas Securities Regulator

The Texas State Securities Board has been investigating FTX US since October.

By Jesse Hamilton, Cheyenne LigonNov 29, 2022

Former FTX CEO Sam-Bankman-Fried (Danny Nelson/CoinDesk)

Finance

Crypto Services Firm Prime Trust Replaces CEO Tom Pageler

It’s the latest shakeup in a rocky month for the crypto industry. FTX’s Sam Bankman-Fried sent political donations through the firm.

By Danny Nelson, Nikhilesh DeNov 29, 2022

Prime Trust CEO Tom Pageler. (Prime Trust)

Videos

BlockFi Has $355M in Crypto Frozen on FTX; Sam Bankman-Fried Addresses FTX Collapse

Crypto lender BlockFi has about $355 million in crypto frozen on FTX. Sam Bankman-Fried addresses Bahamian FTX withdrawals and the collapse of his crypto exchange in a newly released audio interview from Tiffany Fong. Coinbase Wallet will no longer support the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC) and others, effective Dec. 5.

Nov 29, 2022

Policy

Beto O’Rourke Returned a $1M Campaign Donation From Sam Bankman-Fried: Report

The former Texas Democratic candidate for governor was uncomfortable accepting such a large unsolicited donation, according to the Texas Tribune.

By Cheyenne LigonNov 29, 2022

Former Texas Democratic gubernatorial candidate Beto O'Rourke (Eric Thayer/Getty Images)

Finance

Sam Bankman-Fried Addresses Withdrawals, FTX Collapse in Newly Released Audio Interview

The FTX founder said he unpaused Bahamian FTX withdrawals to “appease” local customers and added his lawyers to the groups of people he said can “go f**k themselves.”

By Sam Kessler, Nelson WangNov 29, 2022

El ex CEO de FTX, Sam Bankman-Fried. (Danny Nelson/CoinDesk)

Videos

Bankrupt BlockFi Sues Sam Bankman-Fried Over Robinhood Shares: FT

Cryptocurrency lender BlockFi, which filed for Chapter 11 bankruptcy protection on Monday, on the same day sued FTX founder Sam Bankman-Fried's Emergent Fidelity Technologies holding company for Robinhood Markets (HOOD) shares held by the company and pledged to BlockFi as collateral, the Financial Times reported, citing loan documents it had seen. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De dicusses the latest developments.

Nov 29, 2022