The collapse of FTX, a Bahamas-based cryptocurrency exchange, has been described by federal prosecutors as “one of the biggest financial frauds in American history”.   In November 2023, Sam Bankman-Fried, chief executive of FTX, was convicted of defrauding customers and lenders of Alameda Research, a trading firm affiliated with FTX. His swift conviction was largely attributed to the cooperation of key co-conspirators, who received either significantly reduced sentences or avoided incarceration altogether. FTX serves as a powerful example of how cooperation can shape enforcement investigations. Join Geoff Berman and Ilan Graff as they examine key lessons learned from the bankruptcy of FTX and discuss corporate cooperation under the Trump and Biden administrations.