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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Vidéos

Legal Expert on What FTX's Collapse Means for Users

Crypto exchange FTX US – the U.S. wing of Sam Bankman-Fried's crypto trading empire – warned its users to close their positions as it might halt trading in the coming days. Keystone Law Partner Louise Abbott discusses the legal considerations of FTX's downfall and what they suggest about the fate of its users.

10 nov. 2022, 4:03 p.m. UTC−5

Vidéos

FTX Balances Fell 87% in 5 Days in Epic Crypto Deposit Run, Data Shows

A glance at data from Arkham Intelligence shows the behind-the-scenes operational reality that drove billionaire Sam Bankman-Fried's beleaguered FTX exchange to order a withdrawal halt this week. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.

10 nov. 2022, 4:02 p.m. UTC−5

Vidéos

FTX US Warns of Possible Trading Halt; SBF Tweets: Well Played, You Won

Crypto exchange FTX US warned its users to close their positions as it might halt trading in the coming days. Plus, FTX CEO Sam Bankman-Fried tweets "Alameda Research is winding down trading" and wrote in an apparent dig to Binance, "Well played; you won."

10 nov. 2022, 4:01 p.m. UTC−5

Analyses

The Role Regulators Played in the FTX Fiasco

The collapse of Sam Bankman-Fried's blockchain empire is a direct result of crypto’s centralized development and lack of U.S. regulations.

Par Daniel Kuhn10 nov. 2022, 2:33 p.m. UTC−5

FTX CEO Sam Bankman-Fried (Alex Wong/Getty Images)

Marchés

Tron's TRX Jumps 140% Amid 1:1 FTX Redemption of Tron-Based Tokens

FTX announced that Tron-based assets could be moved to external wallets.

Par Helene Braun10 nov. 2022, 2:26 p.m. UTC−5

Tron's TRX token jumped about 140% on crypto exchange FTX on Thursday. (FTX)

Juridique

White House Says FTX Crash ‘Underscores’ Crypto Concerns

White House Press Secretary Karine Jean-Pierre told reporters that the Biden administration is aware of FTX’s ongoing problems and will continue to monitor the situation.

Par Cheyenne Ligon10 nov. 2022, 2:19 p.m. UTC−5

The White House, the executive office of the U.S. President (Jesse Hamilton/CoinDesk)

Vidéos

Sam Bankman-Fried Tweets Apology as FTX Fallout Continues

FTX CEO Sam Bankman-Fried took to Twitter to apologize for the crisis plaguing his troubled crypto exchange and affiliate Alameda Research. "The Hash" panel discusses the latest in the downfall of FTX and what the future holds.

10 nov. 2022, 1:53 p.m. UTC−5

Podcasts

Crypto Update | Behind Sam Bankman-Fried and His FTT Tokens

Par Adrian Blust, Adam B. Levine10 nov. 2022, 1:38 p.m. UTC−5

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

Finance

FTX US Warns of Trading Halt Hours After Bankman-Fried Says It's '100% Liquid'

Sam Bankman-Fried said the FTX US entity's users would be able to withdraw all their funds.

Par Nikhilesh De10 nov. 2022, 1:35 p.m. UTC−5

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

Juridique

FTX Violated Its Own Terms of Service and Misused User Funds, Lawyers Say

Although the crypto exchange's terms of service prevented it from using customer assets, lawyers suggest FTX's swift downfall indicates the funds were misused.

Par Sandali Handagama10 nov. 2022, 12:17 p.m. UTC−5