Kein Wunderkind mehr, bloß ein Betrüger

ZEIT ONLINE: Sam Bankman-Fried hielt sich für den König Midas der Kryptowelt. Er endete als schnöder Abzocker. Sein Untergang lässt die Bitcoin-Idee jetzt umso richtiger erscheinen.

Schuldig in allen Punkten: Sam Bankman-Fried war einer der reichsten Menschen der Welt, jetzt droht ihm ein Leben im Gefängnis. © Felix Burchardt/ZEIT ONLINE; Bildquelle: Eduardo Munoz/Reuters
Sam Bankman-Fried
ZEIT ONLINE: Sam Bankman-Fried hielt sich für den König Midas der Kryptowelt. Er endete als schnöder Abzocker. Sein Untergang lässt die Bitcoin-Idee jetzt umso richtiger erscheinen.

Vor Prozessbeginn gegen Sam Bankman-Fried, den Gründer der Kryptobörse FTX und des Hedgefonds Alameda Research, gab es die verständliche Sorge, ob die Jury mit diesem Fall nicht überfordert sein könnte. Schließlich gehe es nicht nur um komplizierte Finanzgeschäfte, sondern noch dazu um Kryptowährungen – eine seltsame neue Form von digitalem, fast magischem Geld, das die meisten Jurymitglieder nur vom Hörensagen kennen dürften. Wenn man, so die Befürchtung, erst einmal damit anfange, der Jury Kryptowährungen und die Funktionsweise einer Blockchain zu erklären, was ein Token ist und was eine Exchange, dann könne es technisch schnell sehr komplex werden und am Ende würde in dem Dickicht technischer Details die Frage der Schuld und der Verantwortung immer weniger greif- und zurechenbar. » | Von Ijoma Mangold | Freitag, 3. November 2023

The Rise & Fall of Sam Bankman-Fried

Nov 6, 2023 | It took exactly one year for Sam Bankman-Fried to transform from beloved billionaire entrepreneur to convicted felon. On Nov. 2, a New York jury found Bankman-Fried guilty on all seven counts he was charged with by the Department of Justice. TIME Tech Correspondent Andrew Chow watched the trial unfold from the courtroom and breaks down the case.

Former Crypto Billionaire Sam Bankman-Fried Found Guilty | #shorts

Bankman-Fried has just got fried.

Sam Bankman-Fried Is Found Guilty of 7 Counts of Fraud and Conspiracy

THE NEW YORK TIMES: The case against the founder of the failed FTX exchange had come to symbolize the excesses of the volatile cryptocurrency industry.

The FTX founder Sam Bankman-Fried, shown in February, was convicted on Thursday after a federal jury in Manhattan deliberated for more than four hours. | Hiroko Masuike/The New York Times
Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday of seven charges of fraud and conspiracy after a monthlong trial that laid bare the rampant hubris and risk-taking across the crypto industry.

Mr. Bankman-Fried became a symbol of crypto’s excesses last year when FTX collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending. A jury of nine women and three men took just over four hours of deliberation on Thursday to reach a verdict, convicting Mr. Bankman-Fried of wire fraud, conspiracy and money laundering.

Together the counts carry a maximum sentence of 110 years. Mr. Bankman-Fried, 31, is expected to appeal. He’s scheduled to be sentenced on March 28.

Before the verdict was announced, Mr. Bankman-Fried, wearing a gray suit and purple tie, stood to face the jury, with his hands clasped in front of him. He showed little visible emotion as a juror repeated the word “guilty” seven times. He then took his seat, with his head angled down. » | David Yaffe-Bellany, Matthew Goldstein and J. Edward Moreno | Reporting from the Daniel Patrick Moynihan U.S. Courthouse in Manhattan | Thursday, November 2, 2023

ARTIKEL AUF DEUTSCH:

Kryptounternehmer Bankman-Fried in Betrugsprozess verurteilt: Sam Bankman-Fried wurde einst als Finanz-Genie gefeiert – und nun von New Yorker Geschworenen in einem Betrugsprozess schuldig gesprochen. Dem einstigen Star der Kryptowährungsbranche drohen Jahrzehnte im Gefängnis. »

Sam Bankman-Fried Trial: Fallen Crypto Mogul Convicted in Collapse That Cost Users Billions

THE NEW YORK TIMES: Sam Bankman-Fried, whose FTX cryptocurrency exchange collapsed last year, was accused of using the firm as his personal piggy bank. Prosecutors said he orchestrated a scheme to steal as much as $10 billion from his users.

Sam Bankman-Fried’s crypto empire was valued at $32 billion before is suddenly collapsed last year. | Brittainy Newman for The New York Times
Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday of all seven charges of fraud and conspiracy after a monthlong trial that laid bare the hubris and risk-taking across the crypto industry. These charges carry a maximum sentence of 110 years.

Mr. Bankman-Fried became a symbol of crypto’s excesses last year, when FTX collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending.

Mr. Bankman-Fried, 31, is expected to appeal. » | David Yaffe-Bellany, Matthew Goldstein and J. Edward Moreno | November 2, 2023

Sam Bankman-Fried found guilty of defrauding FTX customers: A jury in Manhattan federal court convicted him on all seven counts of fraud and conspiracy »

Sam Bankman-Fried Built ‘Pyramid of Deceit’, Jurors Hear in Closing Arguments

GUARDIAN US: Founder of FTX platform, 31, painted by prosecution as scammer and liar who defrauded customers out of billions of dollars

Sam Bankman-Fried’s crypto fraud trial neared its end with closing arguments on Wednesday in Manhattan federal court following weeks of testimony that lifted the veil of FTX’s stunning collapse – and a broader murkiness surrounding digital currency markets. The prosecution quickly painted Sam Bankman-Fried as an unabashed scammer rather than the image of the wayward math nerd proffered by the defense throughout the trial, saying he created a “pyramid of deceit” with his cryptocurrency exchange, FTX.

Assistant US attorney Nicholas Roos also used Bankman-Fried’s own testimony against him.

“FTX was bankrupt. Billions of dollars from thousands of people, gone,” Roos said. “He spent his customers’ money, and he lied about it.” » | Victoria Bekiempis in New York | Wednesday, November 1, 2023

Sam Bankman-Fried’s fraud trial testimony: six key takeaways: FTX founder, once the darling of Washington and Silicon Valley, blamed his ex-girlfriend and said ‘I do not recall’ a lot »

Sam Bankman-Fried denies messy hair part of ‘tech genius’ persona during trial: Disgraced former CEO of crypto exchange FTX admits to disparaging regulators on third day of testimony »

Sam Bankman-Fried’s Trial Nears Finish as Closing Arguments Are Made: Prosecutors said Mr. Bankman-Fried had built his FTX crypto exchange into a “pyramid of deceit” while the defense said he was simply a “math nerd” who had no intent to defraud. »

Sam Bankman-Fried's Ex-girlfriend Caroline Ellison Testifies against Him at Fraud Trial

Oct 11, 2023 | Caroline Ellison, Sam Bankman-Fried's ex-girlfriend, is back on the witness stand Wednesday in the FTX founder's fraud trial. Ellison previously pleaded guilty to multiple charges and agreed to cooperate with the prosecution. CBS News national correspondent Errol Barnett is at the courthouse and has the latest on Ellison's testimony.

Witness Testifies Sam Bankman-Fried Directed Her to Commit Fraud

Oct 11, 2023 | Former Alameda Research CEO Caroline Ellison, the government's star witness against Sam Bankman-Fried, took the stand Tuesday and said the former crypto boss directed her to commit crimes. CBS News national correspondent Errol Barnett was in the courtroom and joins to break down the day's proceedings.

Bankman-Fried’s ex-girlfriend to take stand again after day of dramatic testimony: Caroline Ellison said in her first day of testimony that she committed crimes at Bankman-Fried’s direction »

How Sam Bankman-Fried Fooled the Media, Silicon Valley and the World

Oct 9, 2023 | Finance whiz Sam Bankman-Fried was supposed to be the future of finance. Why did his crypto empire come crashing down and how did his alleged crimes fly under the radar for so long? To explain, CNN's Jon Sarlin spoke with investigative finance reporter Zeke Faux.

Sam Bankman-Fried Trial Begins | Bloomberg Television

Oct 3, 2023 | The trial against FTX founder Sam Bankman-Fried has begun with jury selection in downtown Manhattan. Former US Assistant Attorney Josh Naftalis joined "Bloomberg Crypto" co-host Kailey Leinz outside the courthouse to discuss the jury process and prosecution. Plus, Blockchain Association's Kristin Smith on crypto lobbying efforts without FTX; and former Senator Pat Toomey discusses his work on the Coinbase Global Advisory Council.

Gary Wang, an FTX Founder, Says Sam Bankman-Fried Steered Misuse of Funds

THE NEW YORK TIMES: Mr. Wang is one of three key witnesses who pleaded guilty and agreed to cooperate against Mr. Bankman-Fried, the onetime crypto mogul on trial for fraud.

Since his firm collapsed, Sam Bankman-Fried has become a symbol of the cryptocurrency industry’s excesses. | Brittainy Newman for The New York Times
Gary Wang, a former top executive of the failed FTX cryptocurrency exchange, testified that Sam Bankman-Fried, the company’s founder, was the final decision maker at the firm and directed a closely related hedge fund to misuse as it pleased billions of dollars in money from FTX customers.

Over more than six hours of testimony in federal court in Manhattan on Thursday and Friday, Mr. Wang said Mr. Bankman-Fried was fully aware that a sister cryptocurrency trading firm, Alameda Research, had siphoned off $8 billion in customer money from FTX. He said Mr. Bankman-Fried had lied in his public statements in November about FTX customer assets being safe and secure.

Mr. Bankman-Fried called the shots on big issues at FTX, Mr. Wang told the jury of nine women and three men. “In the end, it was Sam’s decision,” he said.

Mr. Wang, 30, who was also a founder of FTX and programmed its code base, is a crucial witness in Mr. Bankman-Fried’s high-profile criminal fraud trial. Mr. Wang is one of Mr. Bankman-Fried’s three close advisers who have pleaded guilty and agreed to cooperate against the entrepreneur, who has been charged with orchestrating a conspiracy to use as much as $10 billion of FTX customer money for all manner of personal projects. » | David Yaffe-Bellany, J. Edward Moreno and Matthew Goldstein, Reporting from the Daniel Patrick Moynihan U.S. Courthouse in Manhattan. | Friday, October 6, 2023

FTX Co-Founder Wang Testifies He, SBF Committed Giant Fraud

Oct 6, 2023 | FTX co-founder Gary Wang took a stand at Sam Bankman-Fried trial, saying he and his onetime math camp buddy and MIT roommate committed a multibillion-dollar fraud. Ava Benny-Morrison reports on Bloomberg Television.

Patrick Boyle: "How Involved Were SBF’s Parents?"

Premiered Sep 23, 2023

Historic Financial Fraud Trial Begins: Who Is Sam Bankman-Fried? | Amanpour & Company

Originally aired on October 5, 2023

Sam Bankman-Fried’s ‘young, eccentric billionaire’ shtick was just another part of the grift: As with Elizabeth Holmes and Billy McFarland, the story seemed too good to be true – because it was »

Prosecutor Opens Trial for FTX Founder Sam Bankman-Fried Saying He Stole At Least $10 billion | News

Oct 4, 2023 | A prosecutor opened a fraud trial Wednesday by telling jurors that FTX founder Sam Bankman-Fried was on top of the world a year ago, hobnobbing with celebrities, before his historic fraud was exposed, leaving customers and investors without at least $10 billion they thought was secure. A defense lawyer insisted his client didn’t steal from anyone.

Too Late for Bankman-Fried to Get a Deal: Naftalis

Oct 3, 2023 | Pallas Partners Partner Joshua Naftalis says US prosecutors should be able to win their fraud case against FTX founder Sam Bankman-Fried. He also says prosecutors won't offer Bankman-Fried any deal now. Naftalis speaks on "Bloomberg Crypto."

'He Couldn't Let Go of It': Inside the Rise and Fall of Sam Bankman-Fried

Oct 4, 2023 | Author Michael Lewis joins Chris Hayes to discuss “Going Infinite,” a new book about indicted crypto executive Sam Bankman-Fried. “I think of him as a creature of modern finance, says Lewis. “At almost any period in history he’s like a high school physics teacher.”

Sam Bankman-Fried's Fraud Trial Begins Today - Here's What It Means for the Future of Crypto

Oct 3, 2023 | This week, Sam Bankman-Fried, known as SBF, will stand trial in what federal prosecutors have called one of the biggest frauds in US history.

The 31-year-old former crypto superstar has pleaded not guilty to seven counts of fraud and conspiracy in connection with the collapse of FTX, his crypto-trading platform. If convicted and sentenced to the maximum punishment, he could spend the rest of his life in prison.

Forbes’ Director of Research for Digital Assets Steven Erich sat down with reporter Rosemarie Miller to talk about what SBF has been charged with, how big the fraud was and what it means for the future of cryptocurrency.

Sam Bankman-Fried's Parents Aren't Out of Legal Peril Themselves: New Yorker's Sheelah Kolhatkar

Oct 2, 2023 | Sheelah Kolhatkar, The New Yorker staff writer, joins 'Squawk Box' to discuss the upcoming criminal trial of FTX founder Sam Bankman-Fried, the unique relationship Bankman-Fried's parents played in FTX, what can expect at the trial, and more. For access to live and exclusive video from CNBC.

Rise, Fall of Sam Bankman-Fried, FTX at Center of Michael Lewis' New Book | 60 Minutes

Oct 2, 2023 | Author Michael Lewis met with FTX founder Sam Bankman-Fried more than 100 times. Lewis breaks down the crypto superstar’s rise and fall in his new book, “Going Infinite.”

Crypto Goes on Trial, as Sam Bankman-Fried Faces His Reckoning: The FTX founder’s uphill court battle starts Tuesday, after he has come to symbolize everything that went wrong with the cryptocurrency industry. »

Related article here.

Le procès de Sam Bankman-Fried, le « Mozart des cryptomonnaies », et de la faillite de FTX s’ouvre à New York : Inculpé notamment de fraude et de blanchiment, celui qui était surnommé le « Mozart des cryptos » risque plus de cent ans de prison. Son procès doit s’ouvrir mardi. » [€]