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Sam Bankman-Fried

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Dec 17

Watch 5:13
The effects of FTX’s collapse on the cryptocurrency industry

After reaching a peak market value of $3 trillion in 2021, cryptocurrencies have spent the better part of 2022 in a tailspin fueled by scandal, financial losses and a public perception crisis. This past week, crypto firm FTX’s founder Sam…

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Dec 14

WATCH: Senate hearing indicates regulation may be on the way for cryptocurrency

By Glenn Gamboa, Associated Press

Whether increased regulation would have prevented the spectacular collapse of cryptocurrency exchange FTX was fiercely debated at a hearing of the Senate’s banking committee Wednesday. However, new legislation is potentially on the way.

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Dec 13

Watch 4:47
News Wrap: Labor Department report shows inflation is slowing

In our news wrap Tuesday, the U.S. economy is giving fresh hope that the worst of inflation may have passed, stocks surged on the inflation news then eased back to wait for Wednesday's interest rate decision, a French court convicted…

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Dec 13

Watch 8:38
FTX founder Sam Bankman-Fried indicted on battery of fraud charges

By John Yang, Alexis Cox

Federal prosecutors unveiled a battery of charges against Sam Bankman-Fried, founder of the bankrupt cryptocurrency exchange FTX. They include wire fraud, money laundering and lying to investors. Bankman-Fried was arrested Monday in the Bahamas just hours before he was scheduled…

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Dec 13

WATCH: Current FTX CEO says lax oversight, bad decisions caused failure

By Glenn Gamboa, Associated Press

The new CEO of the failed cryptocurrency exchange FTX is appearing before a House committee Tuesday, detailing for lawmakers the lack of oversight and financial controls that he discovered since taking over the company a month ago.

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Dec 13

WATCH: U.S. Attorney’s office gives update on the arrest of FTX founder Sam Bankman-Fried

By Ken Sweet, Associated Press

U.S. prosecutors gave more details about the criminal charges filed against FTX founder Sam Bankman-Fried Tuesday, including an allegation that he made illegal campaign contributions totaling in the "tens of millions of dollars."…

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Dec 13

Former FTX CEO Bankman-Fried charged with wire fraud, money laundering

By Ken Sweet, Associated Press

Sam Bankman-Fried was also charged with violating campaign finance laws, a notable as Bankman-Fried was one of the largest political donors this year.

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Dec 12

Sam Bankman-Fried, former FTX CEO, arrested in the Bahamas

By Associated Press

Bankman-Fried's arrest comes just a day before he was due to testify in front of the House Financial Services Committee, along with the company’s current CEO.

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Dec 01

Former FTX CEO Bankman-Fried says he didn’t ‘knowingly’ misuse customers’ funds

By Ken Sweet, Associated Press

The former CEO of the failed cryptocurrency exchange FTX says that he did not "knowingly" misuse customers' funds.

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Nov 14

FTX head Sam Bankman-Fried’s downfall sends shockwaves through cryptocurrency

By Ken Sweet, Associated Press

Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world's first trillionaire.

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