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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Prosecutor Promises 'Handcuffs for All' Crypto Crooks
Damian Williams, the U.S. attorney for the powerful Southern District of New York, set an ominous warning following the conviction of former crypto kingpin Bankman-Fried.
Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial
A tentative sentencing date was set for March 28, 2024. Bankman-Fried could spend decades in prison and potentially up to 115 years.
Sam Bankman-Fried Lambasted by Prosecutor Right Before Jurors Began Deciding His Fate: SBF Thought 'He Could Fool the World'
A verdict in the SBF trial could come before the end of Thursday – on the first anniversary of the CoinDesk scoop that caused his empire to crumble.
CoinDesk Published a Scoop on Alameda Research One Year Ago
CoinDesk senior reporter Ian Allison, the journalist who broke the story that eventually led to the collapse of FTX, takes a look back on the implosion of Sam Bankman-Fried's empire and how the crypto industry has changed in the last year. Allison notes that his sources did not anticipate the gravity of the information they were sharing at the time. "They were as surprised as I was," he said.
A Look Back on the Collapse of Sam Bankman-Fried's Empire
FTX founder Sam Bankman-Fried's downfall began on Nov. 2, 2022, when CoinDesk published a big scoop that raised questions about the health of crypto hedge fund Alameda Research and by extension, how safe Alameda Research's sister company FTX was. CoinDesk senior reporter Ian Allison, the journalist who authored that story, takes a look back on the collapse of Sam Bankman-Fried's empire and how the industry has changed in the last year.
Sam Bankman-Fried Demonstrates Ineffective Altruism at Its Worst
The road to hell is paved with good intentions.
A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High
The FTX founder's downfall began on Nov. 2, 2022 – a year ago Thursday – when CoinDesk published a big scoop. Jurors are poised to begin deliberating his fate on the anniversary of that story, at a time when the SOL tokens FTX owns just got $1 billion more valuable.
Sam Bankman-Fried on Verge of Tears as His Lawyer Concludes Defense
The alleged fraudster and ex-FTX CEO acted "in good faith," Bankman-Fried's attorney said in an emotional closing argument.
