← Back to Hall of Fame
★ Forbes 30U30 2021✅ Convicted
SAM BANKMAN-FRIED
FTX · 2022
Crypto exchange fraud / customer fund misappropriation
Sam Bankman-Fried founded FTX in 2019, growing it into one of the world's largest crypto exchanges. He secretly transferred billions in customer funds to his affiliated trading firm Alameda Research, used for speculative bets, political donations, and real estate. When FTX collapsed in November 2022, approximately $8B in customer funds were missing. SBF was convicted on all 7 counts of fraud and conspiracy in November 2023 and sentenced to 25 years in federal prison in March 2024.
Raised
$1.8B
Outcome
🔒 Prison
Prison
25 yrs
Victims
1,000,000
Investors
Sequoia CapitalSoftBankParadigmTemasekTiger Global