Gone quiet · last update Sep 10, 2026 / Sam Bankman-Fried

FTX's collapse and Sam Bankman-Fried's fraud conviction

Overview · reviewed October 31, 2026

In November 2022 the cryptocurrency exchange FTX collapsed into bankruptcy days after agreeing to sell itself to its rival Binance, billions of dollars short and under Justice Department scrutiny.[1][2] Its founder, Sam Bankman-Fried, was convicted of fraud in 2023 and sentenced in March 2024 to 25 years in prison for stealing at least $10 billion.[3][4] He has appealed the conviction.[5]

Read the timeline

Follow this story to see new developments when you return.

Its founder, Sam Bankman-Fried, was convicted of fraud in 2023 and sentenced in March 2024 to 25 years in prison for stealing at least $10 billion.[3][4] He has appealed the conviction.[5]

Coverage over time

Share of tracked outlets · monthly average of weekly shares (UTC)

Nov 2022: average weekly share 19% (left 6%, center 8%, right 5%), from 4 of 4 weeksDec 2022: average weekly share 18% (left 5%, center 8%, right 5%), from 4 of 4 weeksJan 2023: average weekly share 5% (left 2%, center 2%, right 1%), from 5 of 5 weeksFeb 2023: average weekly share 3% (left 1%, center 1%, right 1%), from 4 of 4 weeksMar 2023: average weekly share 3% (left 1%, center 2%, right under 1%), from 4 of 4 weeksApr 2023: average weekly share 1% (left under 1%, center under 1%, right under 1%), from 4 of 4 weeksMay 2023: average weekly share 1% (left under 1%, center under 1%, right under 1%), from 5 of 5 weeksJun 2023: average weekly share 2% (left 1%, center 1%, right 1%), from 4 of 4 weeksJul 2023: average weekly share 1% (left under 1%, center 1%, right under 1%), from 5 of 5 weeksAug 2023: average weekly share 7% (left 2%, center 3%, right 2%), from 4 of 4 weeksSep 2023: average weekly share 3% (left 1%, center 1%, right 1%), from 4 of 4 weeksOct 2023: average weekly share 17% (left 6%, center 7%, right 4%), from 5 of 5 weeksNov 2023: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksDec 2023: average weekly share 2% (left 1%, center 1%, right under 1%), from 4 of 4 weeksJan 2024: average weekly share 1% (left 0%, center under 1%, right under 1%), from 5 of 5 weeksFeb 2024: average weekly share 1% (left 1%, center 1%, right under 1%), from 4 of 4 weeksMar 2024: average weekly share 9% (left 3%, center 4%, right 2%), from 4 of 4 weeksApr 2024: average weekly share under 1% (left under 1%, center under 1%, right under 1%), from 5 of 5 weeksMay 2024: average weekly share 4% (left 2%, center 2%, right 1%), from 4 of 4 weeksJun 2024: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksJul 2024: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksAug 2024: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksSep 2024: average weekly share 3% (left 1%, center 1%, right 1%), from 5 of 5 weeksOct 2024: average weekly share under 1% (left under 1%, center under 1%, right 0%), from 4 of 4 weeksNov 2024: average weekly share 2% (left under 1%, center 1%, right 1%), from 4 of 4 weeksDec 2024: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksJan 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksFeb 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksMar 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksApr 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksMay 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksJun 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksJul 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksAug 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksSep 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksOct 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksNov 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksDec 2025: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksJan 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksFeb 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksMar 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksApr 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksMay 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksJun 2026: average weekly share under 1% (left under 1%, center 0%, right under 1%), from 5 of 5 weeksJul 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksAug 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 5 of 5 weeksSep 2026: average weekly share under 1% (left under 1%, center under 1%, right 0%), from 4 of 4 weeksOct 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 4 of 4 weeksNov 2026: average weekly share 0% (left 0%, center 0%, right 0%), from 2 of 2 weeks, so far

LeftCenterRight

Each bar is the share of the outlets on our Left / Center / Right rating scale that we tracked publishing that week which carried reporting on this story, split by the outlets' ratings. Over more than two years each bar is a month: the average of that month's weekly shares, so the shape stays readable. The weekly table below keeps every week. We track more outlets now than in the archive, so a share keeps earlier and later weeks comparable. An outlet counts once a week however much it published, and outlets in one ownership or syndication group count as one on each side they appear on. A rating describes the outlet, not the report. A gap means no such reports were collected that week, not that nothing was reported anywhere. Weeks run Monday to Sunday in UTC, so a report published on a Sunday evening in US Eastern time counts in the next week. 14 more outlets off the scale (not rated, or outside the left-right graphs) also reported; they are not in this chart. See them.

Weekly counts, outlets and reports (46 weeks with coverage)
Outlets on the rating scale that carried this story each week, of the outlets tracked that week, newest first
Week of (UTC)LeftCenterRightOf trackedShareReceipts
Sep 7, 20261809 of 4802%
Jun 8, 20261034 of 2002%
Nov 18, 202425310 of 2254%
Nov 11, 20241326 of 2113%
Oct 28, 20241203 of 1962%
Sep 23, 2024910827 of 21413%
Sep 9, 20241618 of 2303%
May 27, 202463211 of 2474%
May 6, 20241212428 of 23612%
Apr 8, 20241416 of 2642%
Mar 25, 202425301671 of 24529%
Mar 11, 202457315 of 2436%
Feb 26, 202467215 of 2566%
Jan 22, 20240347 of 2383%
Dec 25, 202358316 of 2078%
Oct 30, 202327381681 of 23335%
Oct 23, 202318191047 of 23820%
Oct 16, 20231236 of 2482%
Oct 9, 2023128727 of 23711%
Oct 2, 20231717842 of 24317%
Sep 25, 20231214 of 2272%
Sep 18, 202383415 of 2336%
Sep 4, 202353210 of 2534%
Aug 28, 20231337 of 2653%
Aug 21, 202346313 of 2435%
Aug 14, 202343512 of 2465%
Aug 7, 202316171144 of 25917%
Jul 24, 20232417 of 2623%
Jul 17, 20234329 of 2673%
Jun 12, 20232147 of 2503%
Jun 5, 202356213 of 2655%
May 8, 202346515 of 2546%
Apr 17, 20233216 of 2542%
Mar 27, 20231417536 of 27813%
Feb 27, 20233014 of 1852%
Feb 20, 202369419 of 18410%
Jan 9, 202334411 of 1986%
Jan 2, 20231517638 of 19120%
Dec 26, 20220235 of 1633%
Dec 19, 202215221249 of 18427%
Dec 12, 202218311665 of 18735%
Dec 5, 202245413 of 1907%
Nov 28, 20221013932 of 18817%
Nov 21, 2022814830 of 16618%
Nov 14, 20221115834 of 18618%
Nov 7, 20221720845 of 19124%

Latest coverage

The newest reporting in this story's record.

  1. Sep 10, 2026 · first reported · Headline from Local News 8

    Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme Court

Background

FTX's new chief executive, a veteran bankruptcy lawyer, blasted the company's handling of its finances,[6] and its lawyers said a substantial amount of its assets were stolen or missing.[7] Bankman-Fried said he did not "knowingly" misuse customers' money.[8] He was arrested in the Bahamas in December 2022 at the request of the United States, charged with fraud and released on a $250 million bond.[9][10][11] Prosecutors later added a charge that he directed $40 million in bribes to Chinese officials.[12]

A judge jailed him in August 2023 after concluding he had tampered with witnesses.[13] At the trial his former top executive, Caroline Ellison, testified that he had corrupted her values so she could lie and steal;[14] she was later sentenced to two years in prison.[15] In May 2024 FTX said nearly all of its customers would get back the money they were owed.[16]

Supporting stories (16)
  1. Binance to buy rival FTX Trading in apparent bailout
  2. FTX cryptocurrency exchange files for bankruptcy
  3. Sam Bankman-Fried found guilty in FTX crypto fraud case
  4. Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
  5. Sam Bankman-Fried appeals fraud conviction tied to FTX collapse
  6. New CEO of FTX blasts its handling of financial information
  7. $740M in crypto assets recovered in FTX bankruptcy so far
  8. Ex-FTX CEO Says He Did Not 'Knowingly' Misuse Millions of Dollars in Customer Funds
  9. Bankman-Fried, former CEO of crypto firm FTX, arrested in Bahamas
  10. FTX founder charged in scheme to defraud crypto investors
  11. FTX founder Bankman-Fried allowed $250M bond, house arrest
  12. Sam Bankman-Fried directed $40M cryptocurrency bribe to Chinese officials, federal prosecutors allege
  13. FTX founder Sam Bankman-Fried jailed; judge says crypto mogul tampered with witnesses
  14. Caroline Ellison, saying Sam Bankman-Fried corrupted her values, found relief when truth came out
  15. Former FTX executive Caroline Ellison gets 2 years in prison over fraud
  16. FTX says it will return money to most of its customers

The full record

Each date is when an update was first reported.

All 75 recorded updates

September 2026

  1. Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme CourtHeadline from Local News 8 · 9 outlets

November 2024

  1. FTX co-founder gets no prison time after cooperating in case against Sam Bankman-FriedHeadline from MyNorthwest · 11 outlets
  2. FTX sues crypto exchange Binance and its former CEO Zhao for $1.8 billionHeadline from NBC 6 South Florida · 7 outlets

October 2024

  1. FTX’s Nishad Singh gets no jail time for role in crypto fraudHeadline from NBC News · 3 outlets

September 2024

  1. Former FTX executive Caroline Ellison gets 2 years in prison over fraudHeadline from ABC 13 Houston · 32 outlets
  2. Sam Bankman-Fried appeals fraud conviction tied to FTX collapseHeadline from ABC 7 New York · 8 outlets

May 2024

  1. Former FTX executive Ryan Salame sentenced to seven and a half years in prisonHeadline from CNN · 12 outlets
  2. FTX says it will return money to most of its customersHeadline from Delaware Public Media · 30 outlets

April 2024

  1. Sam Bankman-Fried appeals FTX fraud conviction and 25-year jail termHeadline from France 24 · 9 outlets

December 2023

  1. Bankman-Fried Won’t Face Second Trial on Remaining ChargesHeadline from Bloomberg · 18 outlets

Coverage & sources

Read the reports, see how much was collected over time, or compare outlets by political leaning.

Coverage & sources →