Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
Brut.Big Picture: The Sam Bankman-Fried case
Brut America
Follow
2/19/2023
The Sam Bankman-Fried case: How did this young billionaire lose everything and now faces up to 115 in jail if convicted? Here's the big picture.
Category
š¤
Tech
Transcript
Display full video transcript
00:00
That's how this young billionaire lost everything and now faces up to 115 years in jail if convicted.
00:05
This is Sam Bankman-Fried, also known as SBF. In 2017, he was just 25 when he created Alameda
00:11
Research, a cryptocurrency trading company which was earning up to $1 million a day by 2018.
00:16
In 2019, he created FTX, a crypto exchange platform. It was a massive success.
00:21
SBF became one of the most influential personalities in crypto and was even
00:24
featured on the cover of Forbes magazine. A multi-billionaire, he appeared on different
00:28
TV shows where he told people that he wanted to use his riches to make the world a better place.
00:32
It was all smooth sailing until some news outlets began doubting the stability of FTX.
00:36
By November 2022, all hell broke loose. There were allegations that SBF used billions of
00:41
dollars of FTX customer money for Alameda Research. When word got out and customers
00:46
started withdrawing billions of dollars from FTX, the withdrawals were halted as SBF tried
00:51
to get a bailout. Suddenly, FTX's more than 1.2 million users were unable to access their
00:56
crypto wallets. That's when the truth about SBF started tumbling out. He had bought more than 30
01:00
luxury villas, slept in $60,000 a night hotel rooms, and spent more than $7 million on meals.
01:06
Since Amazon didn't deliver to FTX headquarters in the Bahamas, he even hired private jets to
01:10
deliver packages from Miami. On December 12, 2022, SBF was arrested. He was charged with fraud and
01:17
spent 10 days in jail before being bailed out with $250 million, paid by his parents and two
01:22
unknown donors. He was sent back to the US where he was placed under house arrest,
01:25
had his password revoked, and was forbidden from talking to his former colleagues.
Recommended
7:18
|
Up next
The Rise & Fall of Sam Bankman-Fried
TIME
11/4/2023
1:00
BEHIND THE NUBERS - 25 years in prison for FTX's Sam Bankman-Fried
MarketScreener
4/3/2024
1:25
Ex-Goldman banker Roger Ng gets 10 years in jail in 1MDB corruption case
The Star
3/10/2023
32:29
Dirty Money - Crypto Crook Sam Bankman-Fried
Entrepreneur
4/5/2023
1:41
FTX founder Sam Bankman-Fried released on bail of $250 million; parents pay | Oneindia News *News
Oneindia
12/23/2022
0:51
FTX Collapse Trial Nears Climax, Leaving Defense Without Compelling Narrative
Benzinga
10/24/2023
6:28
Why Sam Bankman-Fried is facing up to 110 years in prison
Business Insider
11/4/2023
1:21
Former FTX CEO Sam Bankman-Fried Found Guilty On All Criminal Fraud Charges ā Faces Up To 115 Years In Prison
Benzinga
11/3/2023
1:47
Former FTX CEO Sam Bankman-Fried found guilty on all charges
The Street
11/3/2023
2:22
The Almost Perfect Bank Robbery | movie | 1999 | Official Clip
JustWatch
10/17/2024
0:19
Watch timelapse of cloud rolling over Minnesota as storms cause power outages across state
The Independent
today
0:46
England manager Sarina Wiegman sings and dances with Burna Boy at Euro 2025 victory parade
The Independent
today
0:55
Jeffrey Epsteinās brother claims the paedophile financier āhad dirt on peopleā
The Independent
today
1:08
These Companies Paid the Consequences for Their Monopolies
FYI News
5/14/2019
0:57
People React to Breakdancing Addition to 2024 Olympics
FYI News
5/14/2019
1:11
Jesse Pinkman's Best Scenes in Breaking Bad
FYI News
2/26/2019
0:44
Sea otter shows off rock to fisherman
Brut America
6/27/2025
6:48
Danny Boyle on his new film "28 Years Later"
Brut America
6/26/2025
0:35
Paris police car plays Titanicā music in flooded street after storms.
Brut America
6/26/2025
1:00
Police caught thief by testing the DNA on his lost shoe.
Brut America
6/25/2025
2:20
Trump to put a statue garden near Mt. Rushmore
Brut America
6/25/2025
1:30
What is the pink triangle in San Francisco?
Brut America
6/24/2025
0:44
Lawyer accidentally calls judge honey
Brut America
6/24/2025
1:30
Elon Musk shares clean urine drug test on X
Brut America
6/19/2025
4:47
The story of the Spice Girls
Brut America
4/9/2025