Sam Bankman-Fried (SBF)

Extracted Attributes

• Education

  Bachelor of Science in Physics, Massachusetts Institute of Technology (MIT)

• Full Name

  Samuel Benjamin Bankman-Fried

• Date of Birth

  1992-03-05

• Place of Birth

  Stanford, California, U.S.

• Prison Sentence

  25 years

• Peak Wealth Rank

  41st-richest American in the Forbes 400

• Criminal Convictions

  7 counts including wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance violations

• Financial Forfeiture

  $11 billion

• Philosophical Affiliation

  Effective Altruism and Utilitarianism

Timeline

• Born in Stanford, California; some sources also cite March 6, 1992. (Source: Biography.com)

  1992-03-05

• Graduated from MIT and began working at the trading firm Jane Street in New York. (Source: Biography.com)

  2014-01-01

• Co-founded Alameda Research, a quantitative trading firm. (Source: Britannica)

  2017-01-01

• Founded the FTX cryptocurrency exchange. (Source: Britannica)

  2019-01-01

• FTX collapsed following a run on customer deposits and revelations of mismanagement, leading to bankruptcy. (Source: Wikipedia)

  2022-11-01

• Arrested in the Bahamas and subsequently extradited to the United States. (Source: Wikipedia)

  2022-12-12

• Criminal trial began at the Daniel Patrick Moynihan United States Courthouse in Manhattan. (Source: Wikipedia)

  2023-10-03

• Convicted on all seven counts of fraud, conspiracy, and money laundering. (Source: Wikipedia)

  2023-11-02

• Sentenced to 25 years in prison and ordered to forfeit $11 billion. (Source: Britannica)

  2024-03-28

• Filed a pro se motion for a new trial claiming new evidence in the case. (Source: CoinDesk)

  2026-02-10

Sam Bankman-Fried

Samuel Benjamin Bankman-Fried (born March 5, 1992), commonly known as SBF, is an American entrepreneur who was convicted of fraud and related crimes in November 2023. 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. At the peak of his net worth, he was ranked the 41st-richest American in the Forbes 400. In November 2022, as evidence of potential fraud began to surface, depositors quickly withdrew their assets from FTX, forcing the company into bankruptcy. On December 12, 2022, Bankman-Fried was arrested in the Bahamas and extradited to the United States, where he was indicted on seven criminal charges, including wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance law violations. In the case of United States v. Bankman-Fried, he was convicted of all seven counts of fraud, conspiracy, and money laundering. On March 28, 2024, he was sentenced to 25 years in prison and ordered to forfeit $11 billion. The trial was one of the most notorious cases of white-collar crime in the United States; the financier Anthony Scaramucci termed Bankman-Fried "the Bernie Madoff of crypto".

Web Search Results

• Sam Bankman-Fried | FTX, Education, Conviction, & Prison

  Sam Bankman-Fried (born March 6, 1992, Stanford, California, U.S.) was the founder and former chief executive officer (2019–22) of FTX Trading Ltd., a cryptocurrency exchange. The exchange became the second largest of its kind, making Bankman-Fried a powerful figure within the market of digital assets and in discussions in the United States Congress regarding the industry’s regulation. It was closely tied to Alameda Research LLC, a quantitative trading firm Bankman-Fried had cofounded in 2017. The exchange collapsed suddenly in November 2022 when revelations of broad mismanagement at both FTX and Alameda Research led to a run on customer deposits. The following year Bankman-Fried was convicted of wire fraud, conspiracy, and money laundering, and he was later sentenced to 25 years in [...] money laundering, and he was later sentenced to 25 years in prison. [...] philanthropic values when marketing FTX, he lived a lavish lifestyle in the Bahamas that garnered less attention.

• Sam Bankman-Fried

  The trial began on October 3, 2023, at the Daniel Patrick Moynihan United States Courthouse in Manhattan, presided over by Judge Lewis Kaplan. Bankman-Fried faced seven counts of fraud and conspiracy. The Guardian summarized the trial as a question of "whether Bankman-Fried is a crypto criminal mastermind or just an unlucky 'math nerd'". Bankman-Fried was accused of having "stole[n] billions from thousands of people" by funnelling customers' money from FTX into Alameda to fund investments, loan repayments, real estate, and political donations. The defense, on the other hand, told the story of a young but earnest entrepreneur critically out of his depth. Bankman-Fried, they said, worked 12 to 22 hours a day, "didn't drink or party", and wanted to fund more work on pandemic prevention. A [...] He was a member of Giving What We Can and donated around half of his Jane Street salary to charity. In June 2022, he signed the Giving Pledge; his name was removed from the list's website in December 2022 following his arrest. Bankman-Fried is the founder of Future Fund, whose team included Scottish philosopher and author William MacAskill, one of the founders of the effective altruism movement. After the collapse of FTX, all members of Future Fund simultaneously resigned. As of September 1, 2022, Future Fund stated it had committed around $160 million to 110 nonprofits. [...] process," with the caveat that a "clawback can attempt to recover the difference in the payments."

• Sam Bankman-Fried Was a Crypto King. ...

  ## Quick Facts FULL NAME: Samuel Bankman-Fried BORN: March 5, 1992 BIRTHPLACE: Stanford, California ASTROLOGICAL SIGN: Pisces ## Early Life Samuel Bankman-Fried, also known as SBF, was born in Stanford, California, on March 5, 1992 (His birthdate has also been reported as March 6, 1992). He is the first child of two Stanford University professors: Joseph Bankman, a legal scholar specializing in tax law, and Barbara Fried, who focuses on moral philosophy and the law. Sam grew up in a home on the Stanford campus with his younger brother, Gabriel. Family discussions introduced Sam to the concept of utilitarianism and acting to bring happiness to the most people. [...] SBF took the stand in his own defense. He apologized for mistakes he’d made while CEO of FTX, such as poor risk management, but argued he hadn’t been aware of how customer money moved between FTX and Alameda. He also said Ellison, as CEO, bore responsibility for Alameda’s collapse. During cross-examination, a prosecutor challenged him with evidence of past statements that contradicted his testimony, such as his previously saying he was committed to safeguarding user funds. [...] After a young Sam cried to his mother, “I am so bored I feel like I’m going to die,” his parents signed him up for extracurricular math classes. SBF continued to excel at math while attending nearby Crystal Springs Uplands School, a private school. Sam next attended the Massachusetts Institute of Technology, where he majored in physics. Playing board games late into the night at his fraternity was a favorite pastime of his. MIT is also where he learned about effective altruism and “earning to give,” the belief that someone who made a lot of money then donated it would help the most people. This motivated Sam to pursue a career in finance. After graduating in 2014, he took a job at the trading firm Jane Street in New York and began giving away half his salary.

• Sam Bankman-Fried Biography: The life of a Crypto Mogul

  The book "Sam Bankman-Fried Biography: The life of a Crypto Mogul" paints a complex portrait, full of innovations in the world of cryptocurrency and finance. Bankman-Fried, best known as the founder and CEO of FTX, revolutionized the cryptocurrency trading experience. His popularity comes not only from his expertise in creating leading cryptocurrency products, but also from his smart and efficient business philosophy. Despite facing challenges and changing trends in the industry, he maintains his position as a leader in the field. Furthermore, he has played a key role in shaping a new era in the industry focused on great customer experiences. [...] Those interested in the world of cryptocurrency have certainly heard the name Sam Bankman-Fried. He is an important figure in this field. The book we recommend, titled "Sam Bankman-Fried Biography: The life of a Crypto Mogul", will reveal the secrets of his life.

• Sam Bankman-Fried files for new trial over FTX fraud charges

  Since being convicted and imprisoned on a 25-year sentence, SBF has been continually challenging his situation in court. The latest motion for a new trial, first reported on Tuesday by Inner City Press, was filed by his mother, Barbara Fried, claiming new evidence in the case would justify a reset. The filing noted the initial absence of testimony from figures, including FTX's Ryan Salame, who fought his own, separate legal battle. The former FTX executive, Salame, was also convicted on federal charges but had claimed he made an arrangement to cooperate with prosecutors that should have protected his wife, Michelle Bond, from legal pursuit. She was later charged with allegedly taking illegal campaign contributions in her congressional bid. [...] SBF's 35-page document arrived at the court as a pro se request, meaning the defendant is representing himself. Earlier efforts by SBF to argue he didn't get a fair initial trial — which came to a head in November — were met with some skepticism by appellate judges. SBF's defense in seeking a retrial through appeal focused attention on the later solvency of FTX, and his account on the social media site X continues to make the argument that the company wasn't bankrupt when it collapsed. However, judges contended in November that solvency didn't seem to be the primary issue.