The legal saga surrounding Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, reached its climax with a conviction on fraud charges. Delve into the key moments that shaped this year-long trial.

2017: Bankman-Fried's Journey Begins

Sam Bankman-Fried, a Massachusetts Institute of Technology graduate, takes a bold step by quitting his job as a quantitative trader at Jane Street Capital to establish Alameda Research, a trading firm specializing in cryptocurrency.

May 2019: Birth of FTX

Bankman-Fried and former Google employee Gary Wang join forces to launch FTX, a revolutionary platform for trading crypto tokens and derivatives, marking a significant milestone in the digital asset landscape.

October 2021: FTX's Meteoric Rise

FTX secures a staggering $420 million in venture funding, propelling its valuation to $25 billion. Bankman-Fried's ascent to the Forbes billionaires list solidifies his status as a prominent figure in the crypto realm.

February 2022: Super Bowl Showdown

The NFL Super Bowl witnesses a surge in cryptocurrency advertisements, with FTX commercial featuring actor Larry David capturing attention. Amidst the crypto frenzy, Bankman-Fried's brainchild shines on the global stage.

June-July 2022: The White Knight Emerges

Bankman-Fried emerges as a savior during a turbulent period for the crypto market. Alameda extends substantial credit facilities to crypto lenders Voyager Digital and BlockFi, positioning Bankman-Fried as a key player in the industry.

November 2022: Turmoil Strikes FTX

FTX faces a barrage of challenges, including a leaked balance sheet revealing significant holdings in its own token, FTT. Customer withdrawals soar, and Binance's failed attempt to acquire FTX's non-U.S. unit sends shockwaves across the industry.

December 2022: Legal Battle Begins

Bankman-Fried's troubles escalate as he is indicted on fraud and conspiracy charges. His subsequent arrest in the Bahamas and extradition to the United States mark the beginning of a legal ordeal.

January 2023: Pleading Innocence

Bankman-Fried maintains his innocence, pleading not guilty to all charges. However, mounting pressure from former colleagues pleading guilty adds complexity to his defence.

August 2023: Bail Revoked

Judge Lewis Kaplan revokes Bankman-Fried's bail after allegations of witness tampering surface. He is remanded to detention pending trial, further intensifying the legal battle.

October 2023: The Trial Commences

The highly anticipated trial kicks off in Manhattan federal court, drawing widespread attention from the crypto community and beyond.

November 2023: Verdict Day

After weeks of testimony and deliberation, Bankman-Fried is convicted on all charges, marking the end of a tumultuous chapter in his career.

As the dust settles on this landmark trial, the crypto world reflects on the implications of Bankman-Fried's conviction and awaits the next chapter in this ongoing saga.

February 2024: Lawyers Protection
Sam Bankman-Fried's new legal team filed his sentencing memo, alongside 29 different character references and other supporting documents, arguing he shouldn't face a lengthy prison term after his conviction last November on two fraud and five conspiracy charges.