$8.00B
Involved
FTX Cryptocurrency Exchange Collapse
🇺🇸
United States
fraud
Convicted
Date Discovered
November 2, 2022
Organization
FTX, Alameda Research
Victims
1,000,000
Perpetrators
Sam Bankman-Fried, Caroline Ellison, Gary Wang
Legal Outcome
SBF convicted on 7 counts, sentenced to 25 years. Ellison and Wang cooperated with prosecutors.
Economic Impact
Crypto market crash, customer funds lost, contagion to other crypto firms (BlockFi, Genesis).
Regulatory Changes
Increased crypto regulation calls, SEC enforcement actions, stablecoin legislation debates.