The Government’s Case Against SBF

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SBF was convicted on seven counts of fraud and conspiracy following the collapse of FTX and Alameda Research in 2022.

Prosecutors claimed he misused client funds to support Alameda and finance other ventures while misleading investors about FTX’s stability. Former executives testified that he authorized deceptive balance sheets and hid Alameda’s debt.

The trial, held in the Southern District of New York, concluded with a guilty verdict in November 2023, after a turbulent period for the crypto market—including the collapse of Luna, Three Arrows Capital, and a broader crypto crash.