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Timothy A. Clary/AFP/Getty
The last thing you may have heard about Sam Bankman-Fried was that he was sentenced to 25 years in prison for fraud. Since then, controversy has swirled around his former company's expensive bankruptcy.
In November 2022, his company, FTX, imploded within a matter of days. All around the world, customers of the cryptocurrency exchange were suddenly cut off from their money.
“I tried to withdraw an amount, you know, and it would spin and say, your, your withdrawal is pending,” says Tareq Morad, an investor from Canada. “I remember myself doing that around 7, 8 o’clock at night, checking back, going to look: Okay, did it go through? Did it go through? No. No. No.”
Meanwhile, inside the company, employees were panicking. “All that we were told was there's been a run on the bank and, somehow, money is missing, and we don't know who to trust,” remembers Caroline Papadopoulos, part of FTX’s accounting leadership at the time.
This week on Reveal, in an update of an episode that first aired in September 2025, we use exclusive interviews to take you through the collapse of his company and examine the bankruptcy battles that have played out since Bankman-Fried’s conviction.
Bonus: You can also read the FTX bankruptcy estate’s on-the-record statement to Reveal.
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