Samuel Benjamin Bankman-Fried (born 1992), commonly known as SBF, is an American entrepreneur who founded the cryptocurrency exchange FTX and was for a time celebrated as one of the industry's leading figures, with FTX operating more than 130 international affiliates at its peak. In November 2022, as questions about the company finances surfaced, customers rushed to withdraw their funds and FTX collapsed into bankruptcy within days. Bankman-Fried was arrested in the Bahamas the following month and extradited to the United States, where a jury convicted him on all seven counts of fraud, conspiracy and money laundering he faced, and in March 2024 he was sentenced to twenty five years in prison and ordered to forfeit eleven billion dollars.
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Bankman-Fried founded and ran the FTX cryptocurrency exchange before its collapse amid allegations of misappropriated customer funds, making his case a standard reference in finance practice on custody of client assets.
Source Sam Bankman-Fried - Wikipedia
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Sam Bankman-Fried - Wikipedia
Associated With: Finance, lead sectionQuote, Associated With: Finance, lead section
is an American entrepreneur convicted of fraud. Bankman-Fried founded the FTX cryptocurrency exchange and was celebrated as a "poster boy" for crypto, with FTX having a global reach with more than 130 international affiliates.
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