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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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 Dined With Eric Adams at NYC Mayor’s Go-To Italian Restaurant
Erstwhile crypto titan and avowed vegan Sam Bankman-Fried was also scheduled to meet New York Gov. Kathy Hochul at The Capital Grille steakhouse, according to FBI trial testimony.
Bahamian Prime Minister Asked Sam Bankman-Fried to Give His Son Advice on NFT Project
An email mentioning NFTs from Philip Davis was presented in court on Tuesday as part of prosecutors’ fraud case against the FTX founder.
The SBF Trial: Ex-FTX Exec Nishad Singh Back in Court; Binance.US Halts Direct Dollar Withdrawals
"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including the latest witness testimony in the Sam Bankman-Fried trial from former senior FTX executive Nishad Singh. Plus, the amended proposal that bankrupt crypto exchange FTX has floated to return up to 90% of creditor holdings. And, Binance.US users can no longer withdraw dollars directly from the platform after the exchange updated its terms of use.
For Once, Sam Bankman-Fried's Lawyer Lands a Punch at FTX CEO's Criminal Trial
Under questioning from defense attorney Mark Cohen, a former FTX exec and government witness admitted to some hazy memories.
Ex-FTX Exec Nishad Singh Back in Court After Testifying about Sam Bankman-Fried's 'Excess' Spending
Former FTX executive Nishad Singh is testifying before jurors again Tuesday as Sam Bankman-Fried's criminal trial continues. Singh, who said he knew around $8 billion of FTX customers’ money had gone missing, was once part of Bankman-Fried’s inner circle. CoinDesk executive director of global content Emily Parker describes the latest legal proceedings.
SBF Trial: Nishad Singh Felt ‘Suicidal’ in Crypto Exchange’s Final Days
“Five years of blood, sweat, and tears turned out to be for something evil,” Nishad Singh told a jury.
FTX Plans to Return 90% of Customer Funds, but There's a Catch
An amended proposal released early Tuesday will be filed by the FTX Debtors by mid-December if approved.
