Biography

Sam Bankman-Fried was one of the richest people in crypto, thanks to his FTX exchange and Alameda Research trading firm, before his empire came crashing down in November 2022. After users began withdrawing their investments from FTX at a rapid pace, Bankman-Fried filed for bankruptcy for FTX, FTX's U. S. operations and Alameda Research. On March 28, 2024, Samuel Bankman-Fried, also known as SBF, 32, of Stanford, California, was sentenced to 25 years in prison, three years of supervised release, and ordered to pay $11 billion in forfeiture for his orchestration of multiple fraudulent schemes.