Who Is Gabe Bankman-Fried?

Diana Ember
Diana Ember Crypto
4 Min Read

Gabe Bankman-Fried, an ex-Democratic congressional staffer and creator/former head of Guarding Against Pandemics (GAP), is the brother of Sam Bankman-Fried, founder of the FTX cryptocurrency exchange that went under in 2022. In this article, we will discuss his formative years, his role at FTX, and the court case regarding the defunct exchange.

Gabe Bankman-Fried’s Early Life

Gabe Bankman-Fried, the son of Stanford University law professors Barbara Fried and Joe Bankman, was brought up in sunny California and graduated from Brown University in 2017. His mother is also well known for establishing Mind the Gap, a pro-Democratic super PAC that channels money from Silicon Valley donors to Democratic campaigns and endeavors – making it one of her most admirable accomplishments. Moreover, he is the brother of Sam Bankman-Fried, who has achieved success as an eminent cryptocurrency entrepreneur.

After graduating college, Gabe Bankman-Fried held short positions as a trader at Jane Street Capital and a data consultant for the Democratic political data firm Civis Analytics. In 2019 he made an even bigger career leap by joining Congressman Sean Casten’s (D-IL) team working in the capacity of legislative correspondent until 2021.

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Founding of the FTX

FTX was a cryptocurrency derivatives exchange that was founded in 2019 by Gabe Bankman-Fried’s brother Sam and Gary Wang. The company’s mission was to build a powerful and user-friendly platform, providing traders with the tools they need to manage risk and maximize their profits.

Gaining Popularity: Gabe Bankman-Fried Helped His Brother with Politics

FTX’s platform offered various futures, options, leveraged tokens, and spot markets for various cryptocurrencies and traditional assets. The company also offered several innovative products, such as prediction markets, volatility indices, and leveraged tokens that track specific assets.

Gabe Bankman-Fried partnered with his brother to develop one of the most generous political patrons in history, allocating over $70 million from 2021 through FTX’s demise on research initiatives, advocacy, and political contributions. This strategy—called “effective altruism”—funded progressive policy efforts and projects that other funds would not accept. Furthermore, their family fortune allowed them to co-establish the Guarding Against Pandemics advocacy group alongside a foundation titled Building a Stronger Future.

The End of the Beginning

The FTX company was praised for its unparalleled dependability and cutting-edge innovation, prompting renowned venture capital firms such as Sequoia Capital, Coinbase Ventures, and Paradigm to pour investments into it. Moreover, the prominent industry partnerships with organizations like the NBA gave even more attention to FTX in mainstream markets.

Unfortunately, all this success came crashing down when FTX filed for bankruptcy on Nov 11th, 2022, after an influx of customer withdrawals that same month. As CEO Sam Bankman-Fried recognized later on, there were not enough assets held by the company at that time to successfully fulfill customers’ needs anymore.

Gabe Bankman-Fried’s Involvement in the FTX Case

Following the FTX’s downfall and Sam Bankman-Fried being held accountable for his actions that played a part in its demise, all of Sam Bankman-Fried’s kin are now feeling the repercussions of his choices. Gabe Bankman-Fried resigned from Guarding Against Pandemics in November. (He did not respond to requests for comment.) Additionally, Gabe Bankman-Fried was under investigation for the collapsed exchange. 


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The thesis I wrote in my last year of university was on future currencies, but it was a very new field for me as the blockchain and crypto world were not that mature yet. Today, I find myself writing on these topics in various news channels, and I can say that I have fulfilled my dreams of university.
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