Sam Bankman-Fried

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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 SBF was arrested in December 2022, and his bail was revoked due to alleged witness tampering.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.

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How Many Years in Jail Will Sam Bankman-Fried Get? Nigeria Charged Binance With Tax Evasion
How Many Years in Jail Will Sam Bankman-Fried Get? Nigeria Charged Binance With Tax Evasion
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Coinbase research report that looked at bitcoin ETFs'...
How Many Years in Jail Will Sam Bankman-Fried Get? Nigeria Charged Binance With Tax Evasion

Blockchain's fortune tellers have no more a crystal ball than in any other sphere of life. But these predictions are as good as any. (Francis Hayman/Metropolitan Museum of Art, modified by CoinDesk)
How Many Years Will SBF Get? Jury's Out on Betting Platform Polymarket
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Blockchain's fortune tellers have no more a crystal ball than in any other sphere of life. But these predictions are as good as any. (Francis Hayman/Metropolitan Museum of Art, modified by CoinDesk)

Sam Bankman-Fried exits a federal courthouse in lower Manhattan on July 26, 2023. (Nikhilesh De/CoinDesk)
U.S. Government's Legal Precedents Don't Support Lengthy Prison Term, Bankman-Fried's Defense Argues
Bankman-Fried was found guilty of fraud last year and will be sentenced on March 28.
Sam Bankman-Fried exits a federal courthouse in lower Manhattan on July 26, 2023. (Nikhilesh De/CoinDesk)

BlackRock Joins Asset Tokenization Race; North Korea Hackers Stole $3B in Crypto Since 2017
BlackRock Joins Asset Tokenization Race; North Korea Hackers Stole $3B in Crypto Since 2017
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as BlackRock enters the tokenization race with a new fund on the...
BlackRock Joins Asset Tokenization Race; North Korea Hackers Stole $3B in Crypto Since 2017

New FTX CEO John J. Ray III (C-Span)
FTX Was Down to Last 105 Bitcoins When Bankruptcy Rescue Crew Arrived: John Ray
Ray said Bankman-Fried’s victims “will never be returned to the same economic position they would have been in today absent his colossal fraud.”
New FTX CEO John J. Ray III (C-Span)

Sam Bankman-Fried outside a courthouse in July 2023. (Nikhilesh De/CoinDesk)
DOJ's Proposed 50-Year Sentence for Sam Bankman-Fried 'Disturbing,' FTX Founder's Lawyers Say
Bankman-Fried's defense team attacked prosecutors' lengthy prison term recommendation in a new letter Tuesday.
Sam Bankman-Fried outside a courthouse in July 2023. (Nikhilesh De/CoinDesk)

Sam Bankman-Fried exiting the federal courthouse at 500 Pearl Street earlier this year. (Nikhilesh De/CoinDesk)
Sam Bankman-Fried Should Spend 40-50 Years in Prison, DOJ Says
The U.S. government also recommended an $11 billion fine and forfeiture.
Sam Bankman-Fried exiting the federal courthouse at 500 Pearl Street earlier this year. (Nikhilesh De/CoinDesk)