The swift demise of cryptocurrency exchange FTX in 2022 had damaging domino effects on the cryptocurrency industry, stoking widespread mistrust among the public and toppling cryptocurrency services that did business with it. At the time, FTX was the third-largest crypto exchange, widely regarded as o...
On December 13, 2022, the Office of the U.S. Attorney for the Southern District of New York unsealed an eight-count indictment charging Bankman-Fried with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to com...
Sam Bankman-Fried, the founder of FTX, was found guilty on all seven criminal fraud counts linked to the collapse of crypto exchange FTX and its sister hedge fund, Alameda Research. Despite pleading not guilty, he was convicted of wire fraud, conspiracy to commit wire fraud, securities fraud...
were more than just supportive parents backing their child’s business. Mr. Bankman was a paid FTX employee who traveled frequently to the Bahamas, where the exchange was based. Ms. Fried did not work for the company, but her son was among the donors in a political advocacy network that s...