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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.
Crypto.com and FTX Bet Big on Stadium Naming Rights Before the Crypto Crash. What Happens if They Can’t Afford to Pay?
The glamour of a stadium naming deal can turn sour - just ask Enron. Here’s how a deal might unwind if things go bad.
Alameda Research Leads $3.25M Seed Round for Trustless Media
The New York-based company lets creators tokenize TV productions with NFTs.
Fed Nerves Hit Crypto; Philippines Crypto Tax Pushed
Crypto prices fall ahead of the Fed meeting. Philippine President Marcos Jr. pushes tax for digital services to boost economy, cut debt. Talks between FTX and Bithumb over a potential buyout raise questions. Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal. Binance’s Changpeng Zhao sues Bloomberg in Hong Kong.
Failed Lender Voyager: ‘No Customer Will Be Made Whole’ Under FTX Proposal
FTX CEO Sam Bankman-Fried said his firm's offer would give Voyager customers back 100% of the remaining assets, while Voyager’s lawyers argue that it only benefits FTX.
FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager
The crypto exchange will allow the customers to create accounts funded by an early distribution of a part of their bankruptcy claims.
Bitcoin’s Real Role Examined; 3AC’s Complex Ties Revealed
Report says Bitcoin users in emerging markets looking beyond investment. U.S. Senator Cynthia Lummis says vote on crypto bill unlikely this year. Sam Bankman-Fried says “moderately bad” deals okay during bailouts. Court documents show strong ties between 3AC and TPS Capital. Dubai scorches crypto winter with plans to support 40,000 metaverse jobs.
FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry
The crypto exchange's CEO is also willing to buy bitcoin for his company depending on the price.
Bankruptcy Filing Reveals Biggest Celsius Creditors
Celsius Network's chapter 11 bankruptcy filing reveals the extended influence of crypto billionaire and FTX CEO Sam Bankman-Fried, according to Bloomberg. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Crypto Winter Hits NFTs; 3AC Files for Bankruptcy
Monthly NFT sales fall below US$1 billion for the first time in a year. Three Arrows Capital files for Chapter 15 bankruptcy in the US. Sam Bankman-Fried's FTX doubles down on BlockFi bailout. Experts weigh in on the future of stablecoins. Those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
Sam Bankman-Fried Says He’d Consider Acquiring Troubled Crypto Miners Next
The FTX CEO said helping bail out crypto miners might help mitigate the credit contagion in the crypto sector.
