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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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

Sam Bankman-Fried

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Sam Bankman-Fried dice que Alameda se retira y promete a los clientes de FTX US que sus fondos “están bien”

El propietario de la empresa de trading tuiteó las novedades el jueves a la mañana.

Ni Danny Nelson, Nikhilesh De, Nick Baker

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

Merkado

FTX Balances Tumbled 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.

Ni Sage D. Young

Investors rush to withdraw their savings during a stock market crash, circa 1929. (Hulton Archive/Getty Images)
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Regulatory Gap Limiting CFTC's Crypto Purview: Commissioner Johnson

CFTC Commissioner Kristin N. Johnson discusses her take on FTX's downfall and whether U.S. regulators might probe Sam Bankman-Fried, the head of a non-U.S. entity, the way they did former BitMEX CEO Arthur Hayes. "We are vigorously enforcing any instances where we can," Johnson said. "There is a regulatory gap ... that really limits our ability."

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Trust Is Gained Over Time but Lost in an Instant: Analyst

Tokens related to cryptocurrency exchange FTX, including FTT and Solana (SOL), have fallen sharply amid contagion fears. Citi Digital Asset Analyst Joe Ayoub said "that's largely because of a lack of trust from users in these projects that are related to Sam [Bankman-Fried]."

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FTX Japan Ordered by Regulator to Pause Operations Following Withdrawal Halt

Japan's Financial Services Agency has ordered the local unit of Sam Bankman-Fried's crypto exchange FTX to suspend operation amid its liquidity crisis. CoinDesk Executive Director of Global Content Emily Parker discusses the details and the implications for FTX in Asia. Why did FTX leave Hong Kong and what is the country's state of crypto regulation now?

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Sam Bankman-Fried Says Alameda Winding Down, Promises FTX US Customers' Funds Are 'Fine'

FTX CEO Sam Bankman-Fried promised to use “every penny” his crypto exchange has to repay users ahead of investors, apologizing in a tweet thread on Thursday. The 30-year-old former billionaire also said Alameda Trading – his empire’s once mighty crypto quant shop and market maker – would wind down trading. CoinDesk Technology Reporter Sam Kessler weighs in.

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Pananalapi

Jefferies CEO Expressed Doubts About Sam Bankman-Fried in July

Rich Handler, a restructuring expert, said SBF was "over his head" in trying to rescue crypto outfits.

Ni Brandy Betz

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

Patakaran

FTX Japan to Go Into 'Close-Only' Mode Following Regulator's Order to Suspend Operations

The Financial Services Agency had ordered the local arm of Sam Bankman-Fried's crypto exchange to halt operations until December following a withdrawal halt.

Ni Sandali Handagama

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

Pananalapi

Sam Bankman-Fried Says Alameda Winding Down, Promises FTX US Customers' Funds Are 'Fine'

The trading company's owner tweeted the news on Thursday morning.

Ni Danny Nelson, Nikhilesh De, Nick Baker

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

Patakaran

Washington, D.C.’s Buddy Sam Bankman-Fried Has Some Explaining to Do

FTX CEO Bankman-Fried has been crypto’s shining star in U.S. policy circles, and it’s unclear whether he has an obvious successor.

Ni Jesse Hamilton

Sam Bankman-Fried and former U.S. President Bill Clinton at Crypto Bahamas conference in Nassau in April 2022 (Danny Nelson/CoinDesk)
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