Sam Bankman-Fried

Sam Bankman-Fried, also known as SBF, was born in California to two Stanford Law School professors on March 6, 1992. He later became a prominent figure in the cryptocurrency industry.

During the summer of 2013, Bankman-Fried worked as an intern for New York–based Jane Street Capital.

In 2014, Bankman-Fried graduated from MIT with a degree in physics and a minor in mathematics.

In November 2017, Sam Bankman-Fried co-founded Alameda Research, a quantitative trading firm, which played a crucial role in his career trajectory.

In April 2019, Sam Bankman-Fried founded the cryptocurrency exchange FTX, which was launched the following month, providing a platform for trading various digital assets.

In 2020, FTX acquired the Blockfolio exchange and platform for $150 million. This acquisition led to an expansion of FTX's user base and provided a solid foundation for Bankman-Fried in the cryptocurrency markets.

During bankruptcy proceedings, FTX reveals $1.4 billion in assets but states it will take time to finalize the balance sheet. The company discloses owing $3.1 billion to top 50 creditors without revealing their identities.

SBF is arrested in the Bahamas before his scheduled testimony in the US Congress, following fraud charges filed by the US government. He is denied bail and sent to Fox Hill prison.

FTX co-founder Gary Wang and Carolyn Ellison plead guilty to wire fraud, securities fraud, and commodities fraud charges, while SBF maintains his innocence.

SBF is released on $250 million bail to the custody of his parents from a Manhattan courthouse.

Bankman-Fried pleads not guilty in a New York court, maintaining his innocence.

An unsealed indictment reveals Bankman-Fried faces more charges including bank fraud and operating an unlicensed money transmitter, adding to the existing counts for his upcoming trial.

Bankman-Fried's net worth dropped from $26.5 billion to nearly zero within a week in November 2022.

On November 8, FTX blocked customers from withdrawing money, leading to a situation where hundreds of thousands of customers were unable to access their funds. Subsequently, the company filed for bankruptcy due to an $8 billion gap, caused by mismanagement of funds, lack of liquidity, and a high volume of withdrawals.

On November 11, 2022, Bankman-Fried resigned from FTX following the collapse of the company and the filing for Chapter 11 bankruptcy. The resignation came after a report by CoinDesk raised concerns about potential leverage and solvency issues involving Alameda Research.

Sam Bankman-Fried participated in an interview with New York Times columnist Andrew Ross Sorkin at the DealBook Summit on November 30, 2022. He discussed FTX's collapse, attributing it to sloppy accounting and a market crash rather than criminal activity. Despite being the former CEO, he joined the summit virtually from the Bahamas against his lawyers' advice.

On December 12, 2022, Sam Bankman-Fried (SBF) is arrested in the Bahamas a day before his scheduled testimony before the House. He faces charges of wire fraud and conspiracy as per the indictment from the U.S. Attorney for the Southern District of New York.

Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, admitted to defrauding investors in a plea bargain agreement as announced by U.S. Attorney Damian Williams.

On December 22, 2022, a New York judge grants SBF a $250 million bail, which he secures in part by using his parents' Palo Alto home as collateral.

On January 3, 2023, Sam Bankman-Fried pleaded not guilty to fraud and other charges, attributing the collapse of the business to mismanagement of the exchange rather than fraud. Additional criminal charges were later added against him in February.

On February 14, 2023, the judge overseeing SBF's case orders him to stop using a VPN to obscure internet browsing, after reports of him using it to watch the Super Bowl.

On August 11, 2023, Judge Kaplan revoked Bankman-Fried's bail after concluding that witness tampering had likely occurred. Bankman-Fried was taken into custody at the Metropolitan Detention Center in Brooklyn.

On August 22, 2023, SBF's lawyers claim that the Metropolitan Detention Center in Brooklyn where he is held does not accommodate his vegan diet or provide access to his prescription of Adderall.

On September 12, 2023, Sam Bankman-Fried was denied early release before his trial, which is scheduled for early October. The federal judge handling his case argued that he should remain in custody due to having ample time to prepare and access to relevant electronic materials.

Sam Bankman-Fried has reportedly failed a crucial exam in his life, raising concerns.

The trial concluded on November 2, 2023, with Bankman-Fried being found guilty on all seven counts of fraud and conspiracy. The sentencing hearing is set for March 28, 2024, with speculations on the potential prison time he may face.

Bankman-Fried was convicted of one of the biggest financial frauds in American history on November 3, 2023.

The lawyer representing FTX founder Sam Bankman-Fried urges the judge to reject the recommended 100-year sentence. This legal maneuver adds a new twist to the ongoing legal proceedings against Sam Bankman-Fried.

Prosecutors are pushing for a lengthy prison sentence of 40 to 50 years for Sam Bankman-Fried due to his involvement in cryptocurrency fraud. The legal battle intensifies for the dethroned crypto king.

The chief executive of FTX, a cryptocurrency exchange, publicly criticizes Sam Bankman-Fried for his statements regarding fraud victims not suffering. This adds to the controversy surrounding Sam Bankman-Fried.

Sam Bankman-Fried, a prominent figure in the cryptocurrency world, is facing a potential sentence of up to 110 years in prison. His sentencing is scheduled for March 28, 2024.