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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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’s Biggest Grift? His ‘Best In Class’ Exchange
Never mind the alleged fraud. The centerpiece of the FTX empire – the exchange – really wasn’t that good, traders say.
Sam Bankman-Fried Can Use an 'Air-Gapped' Laptop in Court, Judge Rules
Judge Lewis Kaplan will also allow Bankman-Fried to appear in a suit for the trial.
Sam Bankman-Fried Can Ask DOJ Witnesses About Drug Use
The judge overseeing the FTX founder's case sorted through some pretrial motions on Tuesday.
Crypto Influencer Ben Armstrong Released on Bail; Coinbase Registers With Spain's Central Bank
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, including a report finding crypto funds could have assets of as much as $650 billion within five years. Coinbase registers with the central bank of Spain. Crypto influencer Ben Armstrong was released on bail after an apparent confrontation with his former business partner. And, Sam Bankman-Fried renews a request for temporary release from jail during his trial.
FTX Founder Sam Bankman-Fried Refiles for Temporary Release Ahead of Trial
Lawyers for Sam Bankman-Fried filed another letter late Monday to the Judge overseeing the case, hoping to once again request for the FTX founder's temporary release from prison before the trial starts on Oct. 3. CoinDesk's global policy and regulation managing editor Nikhilesh De discusses the arguments and terms of the letter. Plus, insights on whether Bankman-Fried could get a 115-year prison sentence based on his charges.
Overcrowded, No Heat, Little Light: Inside SBF's Prison Digs
The former CEO who founded FTX, Sam Bankman-Fried, is probably not having a great time as he awaits his criminal trial in federal court.
