Sam Bankman-Fried, also known as SBF, is an American entrepreneur. Born on March 5, 1992, he gained prominence as the founder and CEO of the cryptocurrency exchange FTX and co-founder of the cryptocurrency trading firm Alameda Research. FTX, under his leadership, became one of the largest cryptocurrency exchanges. Bankman-Fried was once celebrated as a "poster boy" for crypto. His success led to a peak net worth that ranked him as the 41st-richest American in the Forbes 400. He was also known for his political donations, contributing significantly to Democratic campaigns.
However, Bankman-Fried's reputation and career took a dramatic turn when FTX collapsed in November 2022. Evidence of fraud emerged, revealing that billions of dollars of customer funds had been misappropriated. Following a high-profile trial, Bankman-Fried was found guilty on multiple counts of fraud, conspiracy, and money laundering in November 2023. On March 28, 2024, he was sentenced to 25 years in prison and ordered to forfeit $11 billion. Currently, Bankman-Fried is serving his sentence. He has recently renewed claims that FTX was solvent at the time of its collapse and is pursuing a retrial.
