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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
The SBF Trial Week 1: Here’s What You Missed
The first week of the Sam Bankman-Fried's criminal trial is wrapping up. "CoinDesk Daily" host Jennifer Sanasie shares some of the key legal developments including jury selection, opening arguments and witness testimony from FTX co-founder Gary Wang.
Former Alameda Research CEO Caroline Ellison to Testify Tuesday in Sam Bankman-Fried Trial
Gary Wang, a former top lieutenant in Bankman-Fried’s empire, testified that Alameda had “special privileges” at FTX that allowed the hedge fund to spend $8 billion of exchange customers’ money.
Sam Bankman-Fried's Trial Kicks Off; Singapore Grants Crypto Licenses to Coinbase, Ripple
Host Megha Chaddah breaks down the latest developments in Sam Bankman-Fried's case as the FTX founder is goes to court in a New York. Plus, insights on the state of crypto adoption in Asia as Coinbase and Ripple secure full licenses for crypto payment services in Singapore. Those stories and other news shaping the cryptocurrency world are in this episode of "Forkast IQ."
Sam Bankman-Fried's Trial: A Look Inside the Courtroom
CoinDesk's global policy and regulation managing editor Nikhilesh De shares the details of what it's been like inside the courtroom for FTX founder Sam Bankman-Fried's ongoing trial. Plus, insights on testimonies from witnesses including the exchange's co-founder Gary Wang.
THORSwap Pauses Platform After Series of FTX Hack-Linked Trades
A THORSwap developer said the team “stands firmly against any and all criminal actions” in a message to CoinDesk. After the move, the FTX Exploiter started swapping funds into the Threshold Network's tBTC tokens.
3 Times Bankman-Fried Allegedly Lied Before He Was Famous
It's not yet clear whether the disgraced FTX founder will testify in his fraud trial. But can you even take him at his word?
Sam Bankman-Fried, Other FTX Execs Committed Financial Crimes, Co-Founder Wang Testifies
Gary Wang, the former chief technology officer and co-founder of FTX, told a jury that he, Bankman-Fried and fellow former executives Caroline Ellison and Nishad Singh committed multiple forms of fraud.
