● Curated Timeline

FTX, SBF & The Crypto Crash Timeline

How 'effective altruism' and $8B in customer funds quietly merged into one courtroom.

13documented receipts·1993 — 2026timeline span·11years covered

FTX didn't just collapse — it was looted in real time, on company Slack, by people wearing cargo shorts. This timeline collects the SBF paper trail, the Alameda receipts, the Binance backchannel, and every subsequent crypto implosion.

1993

1 receipt

PENDING REVIEWApril 16, 1993·Technology

The US government tried to mandate a backdoor in every phone with the Clipper Chip — and the NSA key escrow system was cracked

In 1993, the Clinton administration introduced the Clipper Chip (MYK-78), requiring all phones to include an NSA-designed encryption chip with built-in government backdoor access via key escrow. The encryption algorithm 'Skipjack' was classified, preventing peer review. In 1994, cryptographer Matt Blaze found a critical flaw that allowed the escrow system to be bypassed entirely. The chip was abandoned by 1996 after massive public opposition, but the concept of mandated encryption backdoors resurfaces regularly.

▲ 0💬 0— Matt Blaze / Cryptographers

1995

1 receipt

CONFIRMEDMarch 1, 1995·Intelligence

Crypto AG, the world's leading encryption company, was secretly owned by the CIA and BND for decades

A 2020 Washington Post investigation revealed that Crypto AG — a Swiss company that sold encryption devices to over 120 governments — was secretly owned by the CIA and German BND since 1970. The agencies rigged the devices so they could easily break the encryption and read classified communications from allies and adversaries alike. The operation, codenamed 'Rubicon,' was called 'the intelligence coup of the century' in CIA documents.

▲ 0💬 0— Crypto AG Investigators / CIA Historians

2007

1 receipt

PENDING REVIEWAugust 1, 2007·Technology

The NSA planted a backdoor in a global encryption standard and paid RSA $10 million to make it the default

Dual_EC_DRBG, a random number generator standardized by NIST in 2006, contained a cleverly hidden kleptographic backdoor enabling the NSA to decrypt SSL/TLS connections. Cryptographers Shumow and Ferguson identified the suspicious design in 2007, but it was only confirmed by Snowden's 2013 leaks. Reuters revealed the NSA paid RSA Security $10 million to make the compromised algorithm the default in their widely-used BSAFE library. NIST withdrew the standard in 2014.

▲ 0💬 0— Matt Blaze / Cryptographers

2014

1 receipt

PENDING REVIEWMay 1, 2014·Finance & Banking

The U.S. government secretly pressured banks to cut off legal businesses it politically opposed -- 'Operation Choke Point'

Beginning in 2013, the DOJ and FDIC pressured banks to deny financial services to legal but politically disfavored industries including gun dealers, payday lenders, and later cryptocurrency companies. Banks received 'informal suggestions' to drop clients. A 2.0 version under the Biden administration targeted 30+ crypto firms. Marc Andreessen testified that founders were 'debanked' with no explanation. The FDIC settled lawsuits admitting it had issued improper informal guidance.

▲ 0💬 0— Marc Andreessen

2017

1 receipt

PENDING REVIEWNovember 1, 2017·Finance & Banking

Tether claimed every USDT was backed 1:1 by dollars -- it was only backed 27.6% of the time

Tether, issuer of the world's largest stablecoin USDT, claimed for years that every token was backed 1:1 by U.S. dollars in a bank account. The CFTC investigation revealed Tether held sufficient reserves only 27.6% of the days in a 26-month period. Tether was fined $41.6 million for misrepresentation. Despite this, USDT grew to over $100 billion in circulation. Tether has never completed a full independent audit and refused to disclose which banks hold its reserves.

▲ 0💬 0— ICIJ Investigators

2018

1 receipt

PENDING REVIEWJanuary 1, 2018·Finance & Banking

Crypto markets are systematically manipulated by institutional whales running pump-and-dump schemes worth billions

Research found over half of unregulated cryptocurrency exchanges fail market manipulation tests. Analysis of 355 pump-and-dump cases showed average price distortions of 65% and trading volumes in the millions. One pump group moved $267 million globally. Organized groups use hierarchical Telegram channels where higher-ranked members get target names seconds earlier. In 2025, the FBI created a fake token (NexFundAI) to catch market makers -- seizing over $25 million in fraudulent proceeds.

▲ 0💬 0— ICIJ Investigators

2020

1 receipt

PENDING REVIEWFebruary 11, 2020·Intelligence

CIA Secretly Owned the World's Leading Encryption Company, Reading 120 Countries' Secrets for 50 Years

Crypto AG, a Swiss company that sold encryption machines to over 120 countries, was secretly owned by the CIA and German BND since 1970. For half a century, foreign governments paid good money for equipment that allowed American and German intelligence to read their most sensitive communications. A CIA internal report called it 'the intelligence coup of the century.'

▲ 0💬 0— CIA Internal Assessment

2022

2 receipts

PENDING REVIEWNovember 10, 2022·Finance & Banking

FTX's Sam Bankman-Fried stole $8 billion in customer funds, laundering $40+ million into political donations to buy regulatory protection

Sam Bankman-Fried funneled billions of FTX customer deposits to his trading firm Alameda Research, which used the stolen funds for real estate, investments, and over $40 million in political donations in the 2022 cycle. Donations were disguised under co-conspirators' names and went to both parties to 'purchase influence over cryptocurrency regulation.' He made 300+ illegal campaign contributions. SBF was convicted on 7 federal counts and sentenced to 25 years in prison.

▲ 0💬 0— Dennis Kelleher / Better Markets

CONFIRMEDNovember 11, 2022·Corporate

Sam Bankman-Fried used stolen FTX customer funds to make $93 million in illegal political donations

SBF was charged with using misappropriated customer deposits to make over 300 illegal political donations to both Democratic and Republican candidates, totaling $93 million. The scheme evaded individual donation limits and reporting requirements. The DOJ stated it was all 'in service of Bankman-Fried's desire to buy bipartisan influence.' He was convicted on seven federal counts and sentenced to 25 years in prison.

▲ 0💬 0— Coffeezilla / Crypto Investigators

2023

1 receipt

PENDING REVIEWMarch 12, 2023·Corporate

Crypto regulations are designed to protect the banking monopoly, not consumers — regulators blocked crypto-friendly banks while approving bank-owned crypto products

Operation Chokepoint 2.0 saw banking regulators pressure banks to close accounts for legal crypto businesses. Signature Bank and Silvergate — the two most crypto-friendly banks — were shut down in 2023 under controversial circumstances. Meanwhile, BlackRock's Bitcoin ETF was approved and accumulated $86B. The SEC sued Coinbase and Binance while allowing JPMorgan and Goldman Sachs to launch crypto custody services. Former CFTC chair Chris Giancarlo admitted the 2017-18 Bitcoin futures were launched specifically to 'pop the bubble.' Senator Cynthia Lummis alleged FDIC directed banks to 'debank' crypto companies.

▲ 0💬 0— Crypto Advocates / DeFi Researchers

2024

1 receipt

PENDING REVIEWJanuary 11, 2024·Corporate

BlackRock's Bitcoin ETF accumulated $86 billion and 56% market share within a year — giving one company unprecedented influence over crypto markets

BlackRock's iShares Bitcoin Trust (IBIT) launched in January 2024 and within one year accumulated over $86 billion in assets, capturing 56% of the spot Bitcoin ETF market. This gave a single traditional finance company enormous influence over cryptocurrency markets — the very markets that were designed to be decentralized and free from institutional control. Critics note BlackRock can now influence Bitcoin's price through its massive holdings, lending practices, and market-making activities. The company also manages $10 trillion in total assets and is the largest shareholder in most S&P 500 companies.

▲ 0💬 0— BlackRock / ETF Analysts

2026

2 receipts

DISPUTEDMarch 29, 2026·Intelligence

MakerDAO co-founder tweeted about a pedo elite trafficking ring — he drowned 4 hours later

Nikolai Mushegian, co-founder of MakerDAO and Balancer Labs, tweeted on October 28, 2022 that a pedo elite trafficking blackmail ring was operating out of Puerto Rico. He was found drowned at a beach approximately 4 hours after posting the tweet.

▲ 0💬 0

PENDING REVIEWApril 25, 2026·Finance & Banking

DOJ opens $40M victim fund for OneCoin's $4B crypto Ponzi — the 'Cryptoqueen' is still on the FBI Most Wanted list

The DOJ opened a $40 million victim compensation claim process for OneCoin — one of the largest fraud schemes in history at $4 billion. Co-founder Ruja Ignatova, known as the 'Cryptoqueen,' has been on the FBI Most Wanted list since 2022 and remains at large.

▲ 0💬 0

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