The rise and fall of FTX's Sam Bankman-Fried, the onetime crypto billionaire prosecutors now want jailed after they say he interfered with witnesses in his criminal case
2023-07-26 - Scroll down for original article
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Sam Bankman-Fried catapulted into a crypto billionaire, but it took just one day for most of his fortune to be wiped out. He was extradited to the US and released on $250 million bail on December 22. In late July 2023, prosecutors said he was tampering with witnesses and asked for him to be jailed. Morning Brew Insider recommends waking up with, a daily newsletter. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address By clicking “Sign Up,” you also agree to marketing emails from both Insider and Morning Brew; and you accept Insider’s Terms and Privacy Policy Click here for Morning Brew’s privacy policy. Just months ago, Sam Bankman-Fried was a 30-year-old with a mop of brown hair and enough clout to go by his initials, SBF. He had a cryptocurrency exchange called FTX, a trading firm called Alameda Research, and $15.6 billion to his name, according to estimates from Bloomberg. He had catapulted into one of the biggest names in crypto in a matter of four years and was setting his sights on mainstream finance. Now, all he has left are his initials, and several legal proceedings ahead of him. Bankman-Fried was arrested on December 12 by Bahamian authorities at the US government's request. He's since been extradited to the US and released on bail of $250 million. He's staying with parents in Palo Alto, California as he awaits the trial of FTX. Bankman-Fried originally faced eight criminal counts that included charges of wire fraud, securities fraud, commodities fraud, and money laundering. But on February 23, federal prosecutors unsealed an updated indictment that poses 12 total criminal charges against him including more counts of conspiracy. Here's how SBF went from crypto's poster child to its greatest cautionary tale: