Bankman-Fried founded cryptocurrency exchange FTX, which collapsed in November 2022 amid revelations that billions of dollars in customer funds had been misused.

He also founded Alameda Research (2017), the trading firm at the center of the misuse of FTX customer deposits.

• In 2023, he was convicted on seven counts of fraud and conspiracy, and in 2024 he was sentenced to 25 years in federal prison.

• In 2026, a federal appeals court upheld his conviction and sentence; he has since petitioned the U.S. Supreme Court.

• At the height of his success, Forbes ranked him among the wealthiest Americans, and he was known for his extensive philanthropic work.