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i was the ceo of ftx." he said, "i was responsible." the judge admonishing bankman-fried, saying, "there is a risk that this man will be in position to do something very bad in the future." and adding, in his 30 years, he's never seen a performance like bankman-fried's trial testimony, saying, "when he wasn't outright lying, he was evasive." >> how you feeling today? >> no comment. >> reporter: bankman-fried's parents solemn outside the courthouse, saying in a statement they "are heartbroken and will continue to fight for our son." bankman-fried's lawyers say they plan to appeal. >> it was really, really difficult. i mean, i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. today, he says he's still waiting to get that money back. >> i think that it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> kate, when ftx collapsed, there were real questions about crypto's future. how is it faring now? >> reporter: at the time, lester, sam bankman-fried'
i was the ceo of ftx." he said, "i was responsible." the judge admonishing bankman-fried, saying, "there is a risk that this man will be in position to do something very bad in the future." and adding, in his 30 years, he's never seen a performance like bankman-fried's trial testimony, saying, "when he wasn't outright lying, he was evasive." >> how you feeling today? >> no comment. >> reporter: bankman-fried's parents solemn outside the...
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Mar 29, 2024
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. >> you just need ftx! >> reporter: with celebrity endorsements and bankman-fried's guarantees money would be safe, ftx became the premier crypto exchange. it collapsed in late 2022 after bankman-fried used billions in ftx customer funds without permission to keep his privately controlled hedge fund alameda research afloat. at trial, prosecutors playing this abc news interview. >> so, you do know, and you did know, that ftx deposits were being funneled to alameda? >> so, i was vaguely aware that that was how some wires were being sent in the first place. >> didn't that set off alarm bells in your head? >> so, there are a lot of people who were involved in that process, and, look, i really deeply wish i had taken, like, a lot more responsibility for understanding what the details were of what was going on there. >> reporter: in court today, one victim told the judge he lost "money i wanted to spend on a family home." the judge saying he received more than 200 letters. a man with two young children writing he
. >> you just need ftx! >> reporter: with celebrity endorsements and bankman-fried's guarantees money would be safe, ftx became the premier crypto exchange. it collapsed in late 2022 after bankman-fried used billions in ftx customer funds without permission to keep his privately controlled hedge fund alameda research afloat. at trial, prosecutors playing this abc news interview. >> so, you do know, and you did know, that ftx deposits were being funneled to alameda? >>...
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Mar 28, 2024
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KQED
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how did ftx come crumbling down? david: sure. so just 18 months ago, sam bankman-fried was a huge star in the business world. he ran a cryptocurrency exchange, ftx, which was basically a platform where you could take your dollars and spend them to buy bitcoin or ether other cryptocurrencies. and you could also store your crypto on the platform. so it kind of operated as a bank as well. and it became really popular as the crypto industry grew and grew. and then in november 2022, there was essentially a run on the bank, and that posed a big billion dollar hole in the money that ftx was supposed to be holding on behalf of its customers. and that kind of kick started this series of events that kind of brought the whole edifice crashing down. william: and so those people who had quote-unquote banked their money in his exchanges, they lost all the money. those are the victims in this case? david: those are sort of one subset of the victims. they're probably the largest subset. but the other victims include venture capital investors, wh
how did ftx come crumbling down? david: sure. so just 18 months ago, sam bankman-fried was a huge star in the business world. he ran a cryptocurrency exchange, ftx, which was basically a platform where you could take your dollars and spend them to buy bitcoin or ether other cryptocurrencies. and you could also store your crypto on the platform. so it kind of operated as a bank as well. and it became really popular as the crypto industry grew and grew. and then in november 2022, there was...
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Mar 28, 2024
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. >>> ftx founder sam freed sentenced to 25 years in jail. the judge saying he didn't hear a word of remorse for the crimes. aaron katersky outside the courthouse. >>> tracking storms on both coasts tonight. heavy rain and flood washes from north carolina to maine. back-to-back systems taking aim at the west. heavy rain and snow from california to colorado. rob marciano timing it out. >>> chilling new details about the horrific stabbing rampage across multiple locations in rockford, illinois. four people killed including a 15-year-old girl. her mother says she died protecting her sister and a friend. alex perez with new reporting. >>> the race for the white house tonight. president biden joined by former presidents obama and clinton for a show of force against donald trump and a record-breaking $25 million fund-raiser at new york's radio city music hall. at the same time, trump attending a wake for a fallen nypd officer, less than three weeks before the start of his criminal trial in manhattan. mary bruce here in new york. >>> newly released
. >>> ftx founder sam freed sentenced to 25 years in jail. the judge saying he didn't hear a word of remorse for the crimes. aaron katersky outside the courthouse. >>> tracking storms on both coasts tonight. heavy rain and flood washes from north carolina to maine. back-to-back systems taking aim at the west. heavy rain and snow from california to colorado. rob marciano timing it out. >>> chilling new details about the horrific stabbing rampage across multiple...
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Mar 29, 2024
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i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. he's still waiting to get that money back. >> i think it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> and our thanks to kate for that report. >>> still to come, beyonce does dolly, and a brand-new take on a country music staple. right after this. sic staple. right after this. try the swiffer powermop. ♪♪ an all-in-one cleaning tool that gives you a mop and bucket clean in half the time ♪♪ our cleaning pad has hundreds of scrubbing strips that absorb and lock dirt away, ♪♪ and it has a 360-degree swivel head that goes places a regular mop just can't. so, you can clean your home, faster than ever. ♪♪ don't mop harder, mop smarter, with the swiffer powermop. can an oven roasted turkey breast don't mop harder, pack so much succulent flavor, that the mere glimpse of it induces turkey sandwich daydreams? if it's hillshire farm, oh, hill yeah.™ it ain't my dad's razor, dad. ay watch it! it's from gillette
i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. he's still waiting to get that money back. >> i think it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> and our thanks to kate for that report. >>> still to come, beyonce does dolly, and a brand-new take on a country music staple. right after this. sic staple. right after this. try the swiffer powermop. ♪♪ an...
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just two years ago, ftx founder sam bankman-fried mingled with the rich and powerful. this morning, the one time king of crypto is off to federal prison for 25 years, although experts say that sentence could be cut in half with good behavior. and by completing prison rehab programs. ftx was the premier crypto exchange, but it collapsed in late 2022 after bankman-fried used billions in customer funds to keep his hedge fund, alameda research, afloat. at his trial, prosecutors played this abc news interview. >> so you do know, and you did know that fdx deposits were being funneled to alameda. >> so i was vaguely aware that that was how some wires were being sent in the first place. >> didn't that set off alarm bells in your head? >> so there are a lot of people who are involved in that process. and look, i really deeply wish that i had taken like a lot more responsibility for understanding what the details were of what was going on there. >> his lawyer, seeking a more lenient sentence, described bankman-fried as an awkward math nerd, but his victims claim he was more calc
just two years ago, ftx founder sam bankman-fried mingled with the rich and powerful. this morning, the one time king of crypto is off to federal prison for 25 years, although experts say that sentence could be cut in half with good behavior. and by completing prison rehab programs. ftx was the premier crypto exchange, but it collapsed in late 2022 after bankman-fried used billions in customer funds to keep his hedge fund, alameda research, afloat. at his trial, prosecutors played this abc news...
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Mar 28, 2024
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>> it doesn't seem like he's got the money personally, but the attorneys who are in charge of ftx now who are running the bankruptcy, they've come out and said we've been scouring the world for assets. we found a lot of them. we think we will be able to repay the customers. a lot of that is actually because crypto has been booming lately, and sam's assets included a lot of like random coins that he wasn't able to sell when customers wanted their money back. the bankruptcy estate held onto those and has gained billions of dollars on its crypto holdings, but the judge addressed that in court today, and he said, listen, to put it colloquially, it's as if you went in and robbed a bank, you took the money to a casino in las vegas, you gambled with it, you won. i don't care, you still robbed the bank. >> that's an interesting analogy. so what does this mean for crypto overall, do you think, or does it mean anything for crypto overall? >> it means a lot of people who thought it was a legitimate long-term investment or a hedge for inflation, those people -- those people really lost. they lost
>> it doesn't seem like he's got the money personally, but the attorneys who are in charge of ftx now who are running the bankruptcy, they've come out and said we've been scouring the world for assets. we found a lot of them. we think we will be able to repay the customers. a lot of that is actually because crypto has been booming lately, and sam's assets included a lot of like random coins that he wasn't able to sell when customers wanted their money back. the bankruptcy estate held onto...
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what was ftx? this was a crypto exchange widely advertised and endorsed by celebrities, who by the way were paid. it was pitched as the way for main street to get into the riches of the criminal world. what was happening behind the scenes is a jury agreed he was using it as a personal bank and making risky investments in alameda, an affiliated hedge fund. that he was using the money to buff up his own prestige in washington and to live a lavish lifestyle. hubris and access is what the jury believed. we are waiting, any hour we could get the verdict from the judge. >> thank you so very much. appreciate the update. >>> new developments about the six workers presumed dead after a bridge collapse in baltimore. just last night officials recovered the bodies. bodies. 35 years old and originally from mexico he had been living in mexico. we are also learning more about the other victims. miguel luna 38, originally from el salvador, a husband and father of three. he had been living in maryland for at least
what was ftx? this was a crypto exchange widely advertised and endorsed by celebrities, who by the way were paid. it was pitched as the way for main street to get into the riches of the criminal world. what was happening behind the scenes is a jury agreed he was using it as a personal bank and making risky investments in alameda, an affiliated hedge fund. that he was using the money to buff up his own prestige in washington and to live a lavish lifestyle. hubris and access is what the jury...
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Mar 28, 2024
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bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software debugging? hello and welcome. if you just joined us, i'm sally bundock. we're looking at the top business stories. we start in the us, where in the next few hours sam bankman—fried — the former cryptocurrency tycoon convicted of stealing billions of dollars from customers — will be sentenced for his crimes. the 32—year—old founder of collapsed crypto exchange could now face decades in prison. our cyber correspondent joe tidy was the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise — and downfall — of the man behind one of the biggest financial
bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software...
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what's going on with ftx now? >> not i don't that ftx exists. they've recovered money. the folks employed there are flow longer involved with the company. it's really not a player in the crypto space any longer. crypto is still alive and well and kicking. bitcoin's at $70,000. it hasn't had any impact necessarily on the price of the coin itself or the industry overall. but ftx is no longer. >> is he going to have the chance to try to shorten the sentence? >> i would imagine so. michael milken was convicted and sentenced to 24 months, got out in 22. elizabeth holmes may be able to also shorten her sentence. bernie madoff died in prison, so that -- many ways is a moot point. yeah, i suspect he might. my preference was that he serve the full time. this is -- this was a big fraud. one of the biggest frauds in the history of financial markets. and so you know, i think it's certainly a fair sentence, my own opinion, not a legal opinion. but you know, he did use nor money and did lose investor money and used it not only to live high on the hog, he made political donations, phi
what's going on with ftx now? >> not i don't that ftx exists. they've recovered money. the folks employed there are flow longer involved with the company. it's really not a player in the crypto space any longer. crypto is still alive and well and kicking. bitcoin's at $70,000. it hasn't had any impact necessarily on the price of the coin itself or the industry overall. but ftx is no longer. >> is he going to have the chance to try to shorten the sentence? >> i would imagine...
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Mar 28, 2024
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now the collapse of ftx sent ripples through the crypto world, sending bitcoin prices down. and companies going bank run. several executives testified that sbf misprappropriated thos funds. and also generating some false financial statements. they all pleaded guilty, the former executives to similar charges. they are expected to be sentenced in the coming months. sbf is expected to go to prison. the question is for how long. prosecutors are requesting 40 to 50 years when his defenders are requesting five to seven years. >> more than 700 tons of -- >> still to come to come, ml,ml day. >>> that's coming up right after this. that's coming up right aftr this. feeling sluggish or weighed down? could be a sign that your digestive system isn't at its best. but a little metamucil everyday can help. metamucil's psyllium fiber gels to trap and remove the waste that weighs you down... so you can lighten every day the metamucil way. mr. clean magic eraser powers through tough messes. so it makes it look like i spent hours cleaning, and you know i didn't. it makes my running shoe look li
now the collapse of ftx sent ripples through the crypto world, sending bitcoin prices down. and companies going bank run. several executives testified that sbf misprappropriated thos funds. and also generating some false financial statements. they all pleaded guilty, the former executives to similar charges. they are expected to be sentenced in the coming months. sbf is expected to go to prison. the question is for how long. prosecutors are requesting 40 to 50 years when his defenders are...
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a scheme that led to the collapse of ftx crypto currency exchange. lawyers said six-and-a-half years that could be enough. here now the expert on all things sam bankman fried. give it to us. the sentencing is hours away. >> it is up to him. he could go over than that. >> isn't that the same donald trump argument? hey, there were no victims so i should be okay. he still committed. he was found guilty of committing massive fraud. >> the reason the money has been recovered is he made a bunch of bets with other people's money. they will get enough to pay back the victims. the judge already heard this argument during the trial. and it sounds like you are telling me this guy went and robbed fort knox. he still robbed fort knox. this is irrelevant. i don't know if he will like that argument any better now. >> how can sam conduct himself during the trial and how is that going to play? >> even before the trial, he was annoying the judge from the start. he got, he was out on house arrest. he was at his parents' house. he had a pretty cushy setup. went to priso
a scheme that led to the collapse of ftx crypto currency exchange. lawyers said six-and-a-half years that could be enough. here now the expert on all things sam bankman fried. give it to us. the sentencing is hours away. >> it is up to him. he could go over than that. >> isn't that the same donald trump argument? hey, there were no victims so i should be okay. he still committed. he was found guilty of committing massive fraud. >> the reason the money has been recovered is he...
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Mar 28, 2024
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sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> reporter: how much? >> $2 million. so -- and that was for a family home and for my children's education, and that overnight. >> reporter: beckman freed was% once hailed as the future of finance, with an estimated net . and enlisting celebrities, including quarterback tom brady peer to begun getting into crypto. >> reporter: basketball steph curry. speak are not expert and i don't need to be. >> reporter: to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto stars rise and fall and has been in contact with him while detained. he says the man is hardwired for risk. >> you put your hand on a hot stove and you don't know to burn to a crisp come he doesn't feel. >> reporter: now there is no parole for federal crimes, but good behavior can produce time served. bankman-fried's lawyers will appeal the sentence, and jud judge kaplan recommends he served in a mediu
sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> reporter: how much? >> $2 million. so -- and that was for a family home and for my children's education, and that overnight. >> reporter: beckman freed was% once hailed as the future of finance, with an estimated net . and enlisting celebrities, including quarterback tom brady peer to begun getting into crypto. >> reporter: basketball steph curry. speak are not expert and i...
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Mar 28, 2024
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the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all those involved saying his decisions, quote, haunt him every day. let's bring in cnn's kara scannell and sara fischer as well. so, so kara, a very basic question here. will spf, victims get any or close to all of their money back? >> it looks. like they will get some of their money back. the question will be, is it 100 cents on the dollar, which is what bankman-fried was arguing to the judge in that people will be taking care of who should get a lenient sentence. prosecutors say, not so fast that there is, there is recovery. there was this big bankruptcy proce
the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all...
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Mar 29, 2024
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so has the market put the ftx fiasco behind it? let's bring in natalie brunell. natalie, thanks so much for being with us today, always good to see you. >> it's great to see you, kelly. thanks so muchful can. kelly: okay. so so right off the bat, i've got to get your reaction to the sbf sentencing. i've heard all sorts of, oh, it was too much, it was too little. what do you think, 25 years? >> look, i'm just glad the whole trial is behind us. i hope ftx customers get as much money back as possible, and honestly, i just hope people learn the very important lesson that bitcoin and crypto are very different, and i can't help but think that if sbf just had laser eyes and focused on bitcoin and avoided all the leverage and counterfeiting money through all coin, then he'd be enjoying a new all-time high instead of looking forward to prison in his 50sful. [laughter] kelly: yeah. he would be enjoying an all-time high, and actually that was one of the reasons why the judge said, yeah, you know, there's harm here. because customers are getting paid back, but they're gettin
so has the market put the ftx fiasco behind it? let's bring in natalie brunell. natalie, thanks so much for being with us today, always good to see you. >> it's great to see you, kelly. thanks so muchful can. kelly: okay. so so right off the bat, i've got to get your reaction to the sbf sentencing. i've heard all sorts of, oh, it was too much, it was too little. what do you think, 25 years? >> look, i'm just glad the whole trial is behind us. i hope ftx customers get as much money...
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Mar 28, 2024
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we had records of what was held there prior to the collapse of ftx. each month over the last year the hedge fund markets that fund these claims, in other words i could sell my claim for $0.82, $0.88, $0.90, etc. , as we get closer. because bitcoin has had such dramatic rises in value. many claims will be made close to whole or better than whole, it is extraordinary. remember, we were looking for $7 billion. looks like it has been found. there is precedence to this. many of the claimants in the madoff case were made close to whole and looks like it will happen in the ftx case as well. >> bill: it's up five times in a year, the etf or bitcoin. the people involved in this, not just yourself but he was giving money to joe biden, bill clinton and larry david, shaquille o'neal were all sucking up to him. why did they think he was such a genius? >> remember his parents who you showed going into court. compliance lawyers at sandford. an american citizen running an american exchange at the time when crypto had so much promise in 2021. all the crypto cowboys an
we had records of what was held there prior to the collapse of ftx. each month over the last year the hedge fund markets that fund these claims, in other words i could sell my claim for $0.82, $0.88, $0.90, etc. , as we get closer. because bitcoin has had such dramatic rises in value. many claims will be made close to whole or better than whole, it is extraordinary. remember, we were looking for $7 billion. looks like it has been found. there is precedence to this. many of the claimants in the...
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Mar 28, 2024
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. >>> bay area native sam bankman-fried guilty of fraud and conspiracy after the collapse of ftx. coming up , the sentence just handed out. >>> her mother died from a botched surgery but california law severely limited amateur family could get from a medical malpractic here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>> this just in. a federal judge has sentenced sam bankman-fried to 25 years in prison for his role in the collapse of a digital currency exchange , ftx. the 32-year-old was convicted of fraud and conspiracy last november. for siphoning off people's deposits. is spending included purchases of luxury properties, flights on private jets and lar
. >>> bay area native sam bankman-fried guilty of fraud and conspiracy after the collapse of ftx. coming up , the sentence just handed out. >>> her mother died from a botched surgery but california law severely limited amateur family could get from a medical malpractic here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it...
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ashley: you know what's interesting, adam, when this happened, ftx collapse, there were a lot of people that said, you know what, this is -- could be really bad news for crypto, the credibility. that hasn't been the case. >> no, look at bitcoin trading at all time highs but i tell you, it was brutal for so many of us. i lost a lot of money. i was long silicon valley bank shares and silver gate. it was painful. i never thought that the ripple effect of what was happening down there in the bahamas was going to be so extreme, and it was. so a lot of us lost a lot of money on this whole thing. by the way, the fact that he now is going to have to serve 20 years, it doesn't feel good, it doesn't bring back the money i lost myself and that i lost for clients. but it does -- it keeps people honest and that's what's important. ashley: i'm being told, adam, this is the been a correction. it's 25 years so you can add on another 5. let's bring in kelly o'grady outside the courthouse with the very latest. kelly. kelly reporter: that's right, ashley. i can confirm it is 25 years and my producer ran n
ashley: you know what's interesting, adam, when this happened, ftx collapse, there were a lot of people that said, you know what, this is -- could be really bad news for crypto, the credibility. that hasn't been the case. >> no, look at bitcoin trading at all time highs but i tell you, it was brutal for so many of us. i lost a lot of money. i was long silicon valley bank shares and silver gate. it was painful. i never thought that the ripple effect of what was happening down there in the...
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Mar 28, 2024
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at the sentencing hearing for the former ftx ceo. that's has my favorite part great. >> i started using schwab investing themes. so now i can easily invest in trends like wearable tech trends >> all that raves. sounds exhausting no schwab's technology does the work. so if i spot an opportunity and robotics or pets, i can buy those stocks and a few clicks can't be that easy. >> as with schwab >> schwab investing themes, 40 customizable themes up to 25 stocks in just a few clicks, >> can the riva support your brain health? >> very janet, hey, eddie, now appraiser, franck, franck, bread. >> how are you? >> fred, fuel up to seven brain health indicators, including your memory, joined the neretva brain health challenge. >> when barbara switch to turbotax, i wrote for generations of family tradition. >> i want to make perfume >> so i meet barbecue psyche counts by guaranteeing her maximum refund intuit turbotax >> that's how you may like it never even happened happens serve pro times may change, but some things remain timely for you. how m
at the sentencing hearing for the former ftx ceo. that's has my favorite part great. >> i started using schwab investing themes. so now i can easily invest in trends like wearable tech trends >> all that raves. sounds exhausting no schwab's technology does the work. so if i spot an opportunity and robotics or pets, i can buy those stocks and a few clicks can't be that easy. >> as with schwab >> schwab investing themes, 40 customizable themes up to 25 stocks in just a few...
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now to this, ftx founder sam bankman-fried's sentencing underway in new york. kelly o'grady outside the courthouse, what's the latest? >> reporter: this sentencing is still ongoing. got kicked off at 9:45 or so, but sam bankman-fried looked very disheveled, t-shirt and pants, every different from the clean-cut short haircut we saw during trial, the bushing made his back that we know so well. judge kaplan is coming down so much harder than i think anyone expected. sam bankman-fried is younger, that comes into play with sentencing of the prosecution is looking 40 to 50 years, the defense is seeking 5 to 6. 5, their argument is there was no harm done to victims as the bankruptcy process expects to return all those customer funds. the judge completely rejected that claim today. he went through point by point, arguing this is about intend and what sam bankman-fried and that the loss figure is $10 billion. he underscored customers will be repaid in value last in november of 2,022, the price of bitcoin is four times what it was when ftx collapse. the judge also confir
now to this, ftx founder sam bankman-fried's sentencing underway in new york. kelly o'grady outside the courthouse, what's the latest? >> reporter: this sentencing is still ongoing. got kicked off at 9:45 or so, but sam bankman-fried looked very disheveled, t-shirt and pants, every different from the clean-cut short haircut we saw during trial, the bushing made his back that we know so well. judge kaplan is coming down so much harder than i think anyone expected. sam bankman-fried is...
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that could land him in prison for the next half-century the ftx founder was found guilty of committing one of the largest white-collar crimes in history, stealing more than 10 billion from his crypto customers. accounts cnn's kara scannell is here with the very latest on the story. what can we expect to hear in court today >> yes, there i mean, a big day for sam bankman-fried. he's 32 years old and he's facing a possible sentence of decades in prison federal prosecutors are asking for a sentence of 40 to 50 years in prison. as you said, because he was convicted of stealing more than 10 billion from investors from customers of ftx, as well as from lenders from its sister hedge fund alameda research in prosecutors also say that he spent $150 million to bribe chinese officials and made more than 100 million in a legal political donations to politicians and campaigns. no prosecutors are saying that in their filing to the judge, his life in recent years has been one of unmatched greed and hubris of ambition and rationalization and courting risk and gambling repeatedly with other people's mo
that could land him in prison for the next half-century the ftx founder was found guilty of committing one of the largest white-collar crimes in history, stealing more than 10 billion from his crypto customers. accounts cnn's kara scannell is here with the very latest on the story. what can we expect to hear in court today >> yes, there i mean, a big day for sam bankman-fried. he's 32 years old and he's facing a possible sentence of decades in prison federal prosecutors are asking for a...
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25 years behind bars, will take a closer look at what plato at the sentencing hearing for the former ftx ceo. that's did you know there's no t in skechers? >> when he told the ball rolling is always been scheduled t and these get to slip is ten, these sketches slip in >> i don't think they have a clue. >> that's crazy. >> well, not everyone knows coventry has helped thousands of people sell their policies for cash, even turn policies. >> i can't believe they're just sitting up there sitting on all this cash. >> if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry, even a term policy for cash or a combination of cash and coverage with no future premiums. >> so i want you to tell them but they're sitting on a goldmine you're sitting on a goal. >> that >> i don't hear anything anymore find out if you're sitting on a goldmine called coventry to read today, de hundred 39 to 7,600 or visit coventry direct.com what is circle. surplus the fuel you need to take flight circle is the energy that gets you to the next level circled is which hoped for, rig
25 years behind bars, will take a closer look at what plato at the sentencing hearing for the former ftx ceo. that's did you know there's no t in skechers? >> when he told the ball rolling is always been scheduled t and these get to slip is ten, these sketches slip in >> i don't think they have a clue. >> that's crazy. >> well, not everyone knows coventry has helped thousands of people sell their policies for cash, even turn policies. >> i can't believe they're...
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the price of bitcoin is over four times what it was when ftx collapsed. the victims haven't seen the money yet. i read dozens of letters of support highlighting the extreme mental health challenges coming out of this for them. the sentencing hearing kicks off at 9:30 today. we expect to hear from victims and supporters. most folks i'm talking to are expecting 20 years. he's young. there's a possibility for rehabilitation. but this is the first major criminal crypto case. part of the sentencing goal will be to send a message to the rest of the industry. maria: for sure. thank you. kelly o'grady in new york city. mark, what's your take. >> it's good news. it sounds like the victims might be made hole. whole.we don't know yet. a crime's a crime. if you're found gil ticks you've got to do time. five to six years would be a slap in the nice all of these victims. 50 to 60 -- 40 to 50 of may not happen but i think to kelly's point, about 20 probably being the likely outcome, i think that sounds to be kind of right on. maria: the impact, the fraud caused. >> with
the price of bitcoin is over four times what it was when ftx collapsed. the victims haven't seen the money yet. i read dozens of letters of support highlighting the extreme mental health challenges coming out of this for them. the sentencing hearing kicks off at 9:30 today. we expect to hear from victims and supporters. most folks i'm talking to are expecting 20 years. he's young. there's a possibility for rehabilitation. but this is the first major criminal crypto case. part of the sentencing...
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i was the ceo of ftx, he said, i was responsible. the judge said there is a risk that this man will be in position to do something very bad in the future. and adding in his 30 years he has never seen a performance like bankman fried's trial testimony saying when he was not lying he was evasive. his parents solemn saying they are heartbroken and will continue to fight for their son. lawyers will appeal. >> i couldn't eat sleep. >> reporter: he lost $2 million when ftx imploded and he is waiting to get the money back. >> i don't think it fully reflects the financial and emotional toll on customers. >>> all right, former u.s. attorney joyce vance is back with us, prosecutors were looking of a sentence to 40 to 50 years. what do you make of the judge's decision here? >> reporter: the judge sentences to 25 years. which is a very solid sentence. in a white collar case. the sentencing guidelines here are typically driven by the dollar amount of the fraud. that combined with the fact one of the charges was money laundering is what permitted
i was the ceo of ftx, he said, i was responsible. the judge said there is a risk that this man will be in position to do something very bad in the future. and adding in his 30 years he has never seen a performance like bankman fried's trial testimony saying when he was not lying he was evasive. his parents solemn saying they are heartbroken and will continue to fight for their son. lawyers will appeal. >> i couldn't eat sleep. >> reporter: he lost $2 million when ftx imploded and he...
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there should be 2022 collapse of ftx. he was convicted of fraud and conspiracy with the jury finding helical used money from depositors to cover personal expenses like the purchase of luxury property. . prosecutors recommending a prison sentence of 40 to 50 years. his family and friends urging leniency saying ftx investors have largely recovered their funds. the ecb will allow greek banks to make their first shareholder payouts in more than a decade. the last time a greek bank made it evident was in 2008 ahead of the global financial crisis and before the country's debt crisis started. the bank payouts expected to come after greek banks reduce their nonperforming loans and increased financial strength. towns across america are preparing for an economic windfall with the solar eclipse expected to pass across the country. the last eclipse in 2017 was limited for some states with south carolina's tourism department meeting and impact from 1.6 million people traveling to see the eclipse. rochester, new york is one city on the
there should be 2022 collapse of ftx. he was convicted of fraud and conspiracy with the jury finding helical used money from depositors to cover personal expenses like the purchase of luxury property. . prosecutors recommending a prison sentence of 40 to 50 years. his family and friends urging leniency saying ftx investors have largely recovered their funds. the ecb will allow greek banks to make their first shareholder payouts in more than a decade. the last time a greek bank made it evident...
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, and then ftx returned it to the democrats. in a strange way. coincidentally, the owner of this office , sam benkman fried, was the largest sponsor of the us democratic party. this is one of the explanations why the democrats are giving all this money to ukraine, because it goes through zelensky. when shaher-maher was revealed, diles benk monfried fled to the bahamas and was arrested there. now he is being held in prison so that he will not be able to testify publicly to congress before the election. the investigation materials are classified. this was one of the instruments there may be many more things that have not been revealed. i know that... he says the west cannot be trusted, and russia must go destroy all these people in this kingdom of nazism, in the entire political sphere of ukraine. russia should go take over everything there and destroy all the bad guys. otherwise, russia may need to start this war again in the future. scott benat himself traveled to donbass to see with his own eyes the war that his country is wagi
, and then ftx returned it to the democrats. in a strange way. coincidentally, the owner of this office , sam benkman fried, was the largest sponsor of the us democratic party. this is one of the explanations why the democrats are giving all this money to ukraine, because it goes through zelensky. when shaher-maher was revealed, diles benk monfried fled to the bahamas and was arrested there. now he is being held in prison so that he will not be able to testify publicly to congress before the...
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sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> how much? >> $2 million. so -- and that was for a family home and for my children's education, and that's overnight. >> reporter: bankman-fried was once hailed as the future of finance with an estimated net worth of $26 billion. and enlisting celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: -- and basketball star steph curry -- >> i'm not an expert, and i don't need to be. >> reporter: -- to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto star's rise and fall and has been in contact with him while detained. he says the man is hardwired for risk. >> you put your hand on a hot stove, and you don't know to take it off until it's burned to a crisp. he doesn't feel risk. >> reporter: now, there is no parole for federal crimes, but good behavior can reduce time served. bankman-fried's lawyers will appeal this sentence,
sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> how much? >> $2 million. so -- and that was for a family home and for my children's education, and that's overnight. >> reporter: bankman-fried was once hailed as the future of finance with an estimated net worth of $26 billion. and enlisting celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: -- and basketball star steph curry --...
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and investors of ftx cryptocurrency. it's good, right to cnn's kara scannell. kara, this sentencing is actually much lighter than what prosecutors wrote actually looking for >> yeah. prosecutor said ask the judge to sentence sam bankman-fried 240 to 50 years in prison. the judge lewis kaplan, overseeing this case that he thought that was substantially greater than necessary, but in imposing the sentence, he said that sam bankman-fried, who spoken court and address the judge. he said that despite his saying that he was sorry for mistakes that were made, the judge said that he never spoke a word of remorse for the crimes that he committed, and imposing the sentence, the judge said, there is a risk that this man will be in a position to do something very bad in the future. and it's not a trivial risks. so he imposes sentence of 25 years. bankman-fried is 32 years there's old, so he would be about 57 years if he serves the entirety of that sentence. still time for him to come out, but that was one of the concerns that prosecutors had. they said that even after bank
and investors of ftx cryptocurrency. it's good, right to cnn's kara scannell. kara, this sentencing is actually much lighter than what prosecutors wrote actually looking for >> yeah. prosecutor said ask the judge to sentence sam bankman-fried 240 to 50 years in prison. the judge lewis kaplan, overseeing this case that he thought that was substantially greater than necessary, but in imposing the sentence, he said that sam bankman-fried, who spoken court and address the judge. he said that...
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sam bankman-fried, the disgraced founder of the now defunct cryptocurrency exchange ftx, was sentenced to 25 years in prison for fraud and conspiracy. district judge lewis kaplan noted bankman-fried's "apparent lack of any remorse" for defrauding ftx customers out of at least $8 billion. bankman-fried's lawyer said they plan to appeal. a federal judge has tossed elon musk's lawsuit against the watchdog center for countering digital hate, writing in his ruling "this case is about punishing the defendants for their speech." elon musk sued the non-profit after they reported that hate speech, racism, and misinformation soared on the social media platform x, formerly known as twitter, after the billionaire took ownership of the site in 2022. the center for countering digital hate welcomed the lawsuit's dismissal, writing on x -- "we'll continue exposing hate and lies on x, and campaigning for social media bosses like musk to be held accountable." to see our interview about this case with the head of the center for countering digital hate, go to democracynow.org. colombia has expelled its ar
sam bankman-fried, the disgraced founder of the now defunct cryptocurrency exchange ftx, was sentenced to 25 years in prison for fraud and conspiracy. district judge lewis kaplan noted bankman-fried's "apparent lack of any remorse" for defrauding ftx customers out of at least $8 billion. bankman-fried's lawyer said they plan to appeal. a federal judge has tossed elon musk's lawsuit against the watchdog center for countering digital hate, writing in his ruling "this case is about...
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ftx was run in arrogance and lack of respect for the basic norms of the law. you go back to the beginning of the trial. the judge actually didn't allow any evidence customers would be repaid so it is an indication how he will think through the defense's argument and expect him to send a message with the sentencing to the entire crypto industry. >> bill: we'll watch for that. reaction from one of bankman-fried's victims. we'll talk to mr. wonderful momentarily. >> dana: we want to get you to this as well. a slow but steady evolution. president biden gradually turning slowly against israel in the wake of pressure from far left democrats. watch this clip to see his changing position since the war began last october. >> president biden: my add min trigss is rock solid and unwavering. >> i got off the phone with a call to president netanyahu and i told him the united states our response will be swift, decisive. i come to israel with a single message. you are not alone. i have no notion the palestinians are telling the truth about how many people are killed. inoh ce
ftx was run in arrogance and lack of respect for the basic norms of the law. you go back to the beginning of the trial. the judge actually didn't allow any evidence customers would be repaid so it is an indication how he will think through the defense's argument and expect him to send a message with the sentencing to the entire crypto industry. >> bill: we'll watch for that. reaction from one of bankman-fried's victims. we'll talk to mr. wonderful momentarily. >> dana: we want to...
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. >>> ftx founder sam bankman-fried has been sentenced to 25 years in prison. he was found guilty in november of orchestrating the multibillion dollar fraud that prompted the collapse of the ftx cryptocurrency exchange. he illegally used the money to cover his lavish lifestyle, including buying luxury property in the caribbean and flying on private jets. >>> power players, presidents obama and clinton answering the call from the current commander in chief. the fund-raising event to back joe biden for the re-election. that's next when "andrea mitchell reports" is back in 60 seconds. stay with us. you are watching msnbc. s fast and lasts a full 24 hours so dave can be the... deliverer of dance. ok, dave! let's be more than our allergies. zeize the day with zyrtec. it's hard to explain what this feels like. ♪♪ moving piles of earth. towing up to 4,000 lbs. cutting millions of blades of grass. nothing compares to experiencing it for yourself. you just have to get in the seat. hi, i'm katie. i live in flagstaff, arizona. i'm an older student. i'm getting my doct
. >>> ftx founder sam bankman-fried has been sentenced to 25 years in prison. he was found guilty in november of orchestrating the multibillion dollar fraud that prompted the collapse of the ftx cryptocurrency exchange. he illegally used the money to cover his lavish lifestyle, including buying luxury property in the caribbean and flying on private jets. >>> power players, presidents obama and clinton answering the call from the current commander in chief. the fund-raising...
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sam bankman-fried is set to be sentenced today over the implosion of the crypto exchange ftx. we have mackenzie sigalos here with more. >> good morning. >> what are you expecting when this kicks off in court at 9:30? >> frank, this is sam bankman-fried's final chance to make a direct appeal to the judge. this is an old-school judge who is a legend in the southern districts of new york. he had zero patience for sam's appeal on the stand in october can sam change the judge's mind? the only way he can do that is if he takes the stand and if this time around he accepts responsibility for what happened to ftx customers the judge will also give the government and defense one last chance to make their arguments without a jury in the room, there is nothing off limits. sam bankman-fried's attorney helped a previous client get a four four-year sentence it is possible the victims will take the stand from there, it is all the judge who gives long speeches with the rulings like when he sent sam bankman-fried back to jail in august. >> what are you hearing in terms of possible sentencing wh
sam bankman-fried is set to be sentenced today over the implosion of the crypto exchange ftx. we have mackenzie sigalos here with more. >> good morning. >> what are you expecting when this kicks off in court at 9:30? >> frank, this is sam bankman-fried's final chance to make a direct appeal to the judge. this is an old-school judge who is a legend in the southern districts of new york. he had zero patience for sam's appeal on the stand in october can sam change the judge's...
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kelly, thank you very much. >>> my next guest created unicoin after the ftx collapse. his name is mo, and he joins me now. great to have you, mo. let's begin begin with unicoin. what is it? >> unicoin is actually an alternative, right, that we actually launched because we believed that the lack of transparency, the anonymity and the decentralization of traditional cryptoor currency was so volatile -- clip the currency was so volatile and is so suspect, you know, and open for all kind of nefarious behavior. so unicoin is asset-backed. it's public reporting, it's compliant k. and so we believe that that is the future of cryptocurrency and, certainly are, sam bankman-fried's case certainly supports that message. ashley: and talking of sbf, what did you make of his sentence? do you think it's fair? >> i do think it's fair, and i think that the department of justice sent the right message and the judge, judge kaplan, did as well in the 252-year sentence and this -- 25-year sentence and this $11.2 billion fine. i think the message loud and clear. they're not going to tolerat
kelly, thank you very much. >>> my next guest created unicoin after the ftx collapse. his name is mo, and he joins me now. great to have you, mo. let's begin begin with unicoin. what is it? >> unicoin is actually an alternative, right, that we actually launched because we believed that the lack of transparency, the anonymity and the decentralization of traditional cryptoor currency was so volatile -- clip the currency was so volatile and is so suspect, you know, and open for all...
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bankman-fried express nothing remorse after being sentenced to 25 years in prison after defrauding ftx investors. the former crypto ceo must pay $11 billion for his role in the collapse of the digital trading platform. the judge labeling him as a power obsessed scammer. meanwhile, ftx is reportedly planning to sell bankman-fried's bahamas real estate holdings worth estimated $22 million a texas attorney general ken paxton now opening an investigation into one of boeing's parts suppliers after a series of mishaps on recent flights, including mid-air blow out on an alaska airlines flight. spirit arrow system produces the fuselages for boeing 737 jets and packsston saying, quote: the potential risks associated with certain airplane models are deeply concerning and potentially life-threatening to texans. i would hold any company responsible if they fail to maintain the standards required by the law. the average full-time working american can't afford to buy a basic home. that's according to new data from the real estate company redfin. first time buyers must now earn at least $76,000 a yea
bankman-fried express nothing remorse after being sentenced to 25 years in prison after defrauding ftx investors. the former crypto ceo must pay $11 billion for his role in the collapse of the digital trading platform. the judge labeling him as a power obsessed scammer. meanwhile, ftx is reportedly planning to sell bankman-fried's bahamas real estate holdings worth estimated $22 million a texas attorney general ken paxton now opening an investigation into one of boeing's parts suppliers after a...
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. >>> sentencing day for convicted ftx founder sam bankman-fried. he will spend 25 years in prison for the fraud that brought down his cryptocurrency exchange. his parents, both longtime stanford law professors, were at this courthouse for sentencing. the jury found sam bankman- fried guilty on several counts and prosecutors say he robbed customers of his much is $8 million to make risky bets. he previously signaled he plans to appeal the conviction but did apologize in court today, saying he made selfish decisions that haunt him every day. no word yet on where he will serve his sentence. >>> a lot of questions tonight about why that cargo ship lost power and hit baltimore's cambridge, and while investigators are looking for answers, transportation leaders are looking to get cargo moving out in a not -- the part of -- port of baltimore. more on the economic impact of this horrible tragedy. >> reporter: the impact that struck the heart of baltimore. now rippling across the country as americans grieve the six lives lost. >> to all the families, we are
. >>> sentencing day for convicted ftx founder sam bankman-fried. he will spend 25 years in prison for the fraud that brought down his cryptocurrency exchange. his parents, both longtime stanford law professors, were at this courthouse for sentencing. the jury found sam bankman- fried guilty on several counts and prosecutors say he robbed customers of his much is $8 million to make risky bets. he previously signaled he plans to appeal the conviction but did apologize in court today,...
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i was the ceo of ftx, he said, i was responsible. the judge admonished bankman- fried saying there is a risk this man will be in a position to do something very bad in the future and adding in his 30 years, he has never seen a performance like bankman- fried's trial testimony, saying when he was not out right line, he was evasive. bankman-fried's parents, solemn outside the courthouse, saying in a statement they are heartbroken and will continue to fight for their sons. bankman-fried's lawyers say they plan to appeal. >> i think it goes some way some closure but i don't think it fully reflects the financial or emotional toll on customers. >> joyce is back with us. prosecutors were looking for a sentence of 40 to 50 years. what you make of the judges decision here? >> the judge sentenced to 25 years, which is a very solid sentence. here guidelines are driven by the dollar amount of the fraud. that combined with the fact that one of the charges was money laundering is what permitted the judge to consider imposing a sentence like this a
i was the ceo of ftx, he said, i was responsible. the judge admonished bankman- fried saying there is a risk this man will be in a position to do something very bad in the future and adding in his 30 years, he has never seen a performance like bankman- fried's trial testimony, saying when he was not out right line, he was evasive. bankman-fried's parents, solemn outside the courthouse, saying in a statement they are heartbroken and will continue to fight for their sons. bankman-fried's lawyers...
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sam bankman-fried went to penthouse to jail cell after the collapse of ftx. >> there are two narratives we are talking about, one that sbf, as he is known, is that he was a criminal mastermind, and the other is that he was a kid over his head. >> yeah, and i think you can guess which theory belongs to the prosecution and which belongs to the defense. the defense says he was a kid that mismanaged money and he was also a victim of the collapse, and they are using his autism as a defense. prosecutors want 50 years, and the defense is asking for 6 1/2. the thing that doesn't help him, he took the stand in his own defense during his trial and it was a disaster. the judge said he showed little if any remorse, which is why his attorneys are trying to differentiate their client from others, and bernie madoff died in prison, and he was sentenced to 150 years. bankman-fried's potential sentence could be this high, and even prosecutors are not asking for that. other comparisons, this is bernie everies, and he got 25 years, and elizabeth holmes got 11. we should know by noon today how long he will
sam bankman-fried went to penthouse to jail cell after the collapse of ftx. >> there are two narratives we are talking about, one that sbf, as he is known, is that he was a criminal mastermind, and the other is that he was a kid over his head. >> yeah, and i think you can guess which theory belongs to the prosecution and which belongs to the defense. the defense says he was a kid that mismanaged money and he was also a victim of the collapse, and they are using his autism as a...
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he faces prison for defrauding ftx investors. his parents arrived at the courthouse moments ago. kelly o'grady is there. >> today we will learn the penalty, sam bankman-fried stole over 10 billion dollars. the defense looking for five to six and a half arguing there was no harm done to victims, the money is expected to be returned. new york law focuses on intent, not loss. calling this a prison sentence. pushing back on no harm, the customers will be repaid. bitcoin is priced five times more than it was then. it kicks off at 9:30, sam bankman-fried, they want to send a message here. >> rachel: thank you so much. as you prepare for easter sunday new study revealing those who regularly go to church remained low and falling even more with only 30% of u.s. adults regularly attending church, down from 42% 20 years ago. our next guest knows about change, "the chosen" actor noah james james joins us. what is driving it decline? >> i certainly don't have the answer. i know that with our show, we've been really surprised with the amount of children and people under 18 who have actually fo
he faces prison for defrauding ftx investors. his parents arrived at the courthouse moments ago. kelly o'grady is there. >> today we will learn the penalty, sam bankman-fried stole over 10 billion dollars. the defense looking for five to six and a half arguing there was no harm done to victims, the money is expected to be returned. new york law focuses on intent, not loss. calling this a prison sentence. pushing back on no harm, the customers will be repaid. bitcoin is priced five times...
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was convicted in november for stealing more than $8 billion of customers of his now-bankrupt company ftx. his lawyers plan to appeal. >>> kia is recalling more than 400,000 tellurides because of a roll away risk while in park. the recall covers all vehicles made between 2020 and 2023 and some 2024 models, too. kia says until owners can bring in their vehicles to get the free software fix, they should use the manual parking brake instead. >>> and kfc is getting saucy. the company is adding saucy nuggets to its menu starting monday. there are five flavors to choosing from, honey sriracha, korean barbecue, wticky chicky sweet and sour, nashville hot, and georgia gold. >>> that's your cbs "money watch" report. i'm carissa lawson, cbs news, new york. >>> up next, we've got your new beyonce country music. we'll hear her versions of dolly parton's "jolene." beyonce country music. we'll hear her versions of dolly parton's "jolene." (bridget) with thyroid eye disease i hid from the camera. and i wanted to hide from the world. for years, i thought my t.e.d. was beyond help... but then i asked my d
was convicted in november for stealing more than $8 billion of customers of his now-bankrupt company ftx. his lawyers plan to appeal. >>> kia is recalling more than 400,000 tellurides because of a roll away risk while in park. the recall covers all vehicles made between 2020 and 2023 and some 2024 models, too. kia says until owners can bring in their vehicles to get the free software fix, they should use the manual parking brake instead. >>> and kfc is getting saucy. the...
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the ftx founder was found guilty of committing one of the largest white-collar crime who's in history, stealing and defrauding more than 10 billion from his crypto customers accounts. cnn's kara scannell is here with a very latest. so what else can we expect today? court besides him finding out what the rest of his life is going to look like exactly. and the question is just how many years will it be? before he ever leaves a prison? remember, he's been detained since august when the judge found him involved in witness tampering when he was out on bail. but this is the moment of reckoning for sam bankman-fried once the face of the crypto industry hailed as the king, but he's really going to face the judge today and find out what his future looks like? no prosecutors, as you said, say this is one of the biggest frauds in financial history. second only to bernie made ofs fraud so they're asking the judge to sentence him to 40 to 50 years in prison because he stole $10 billion from customers, investors lenders, and they also say that he no, he spent $150 million in bribes to chinese offic
the ftx founder was found guilty of committing one of the largest white-collar crime who's in history, stealing and defrauding more than 10 billion from his crypto customers accounts. cnn's kara scannell is here with a very latest. so what else can we expect today? court besides him finding out what the rest of his life is going to look like exactly. and the question is just how many years will it be? before he ever leaves a prison? remember, he's been detained since august when the judge found...
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bankman fried was accused of stealing $8 billion from clients in the ftx exchange. a graduate of the massachusetts institute of technology, bankman fried became one of the most famous crypto investors in the united states before he even turned thirty. forbes estimated his fortune at $26 billion, but in november. used clients' money to to solve the financial problems of his other assets, according to investigators, he directed $10 billion to help his hedge fund alameda research. starting next monday , the rules for purchasing in foreign online stores will probably become stricter for russians; it can even be calculated that they will become stricter five times. on april 1 , the deadline for the duty-free import of goods of one thousand euros expires; in order for the measure to be extended, a decision from the eurasian economic commission is needed: in addition to russia, it includes belarus, kazakhstan, armenia and kyrgyzstan, but as vedomosti newspaper sources say, the preparation of documents has not yet begun, which means it is very likely that from april 1, russ
bankman fried was accused of stealing $8 billion from clients in the ftx exchange. a graduate of the massachusetts institute of technology, bankman fried became one of the most famous crypto investors in the united states before he even turned thirty. forbes estimated his fortune at $26 billion, but in november. used clients' money to to solve the financial problems of his other assets, according to investigators, he directed $10 billion to help his hedge fund alameda research. starting next...
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Mar 28, 2024
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billion in customer funds that he loss as a result of the spectacular collapse of that crypto exchange, ftx. now, when it comes to just the overall recap here, we have to rewind to about four months ago, when sbf was found guilty of seven charges including fraud and conspiracy. the prosecutors are arguing he should get 40 to 50 years in prison as a result of this. they are citing the tens of thousands of victims that were part of this collapse and they also said in a statement, quote, he stole money from customers who entrusted it to him. he lied to investors. he pumped millions of dollars political donations to our system and he bribed officials. his attorneys are asking he's deep down inside a good person, he has mental health issues. where does the judge lie in that? we'll find out later on this morning. >> what about the victims? you mentioned tens of thousands who lost their money? any hope that they'll get it back? >> ftx collapsed in 2022, and there's an administrator trying to figure out whether or not they can recuperate the money customers lost in that fund. for what it's worth, c
billion in customer funds that he loss as a result of the spectacular collapse of that crypto exchange, ftx. now, when it comes to just the overall recap here, we have to rewind to about four months ago, when sbf was found guilty of seven charges including fraud and conspiracy. the prosecutors are arguing he should get 40 to 50 years in prison as a result of this. they are citing the tens of thousands of victims that were part of this collapse and they also said in a statement, quote, he stole...
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Mar 28, 2024
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the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when the exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by ms appropriating the money to cover his expenses, which included purchasing luxury properties in the caribbean. the judge did say he would advise the federal bureau of prisons to sent him to a medium security prison or last near the san francisco bay area. because he's unlikely to be a physical threat to other inmates or prison staff and his autism and social awkwardness would make him vulnerable to other inmates in a high security location. we're taking a look outside. nice wide look here at san francisco right now, enjoying some sun today. a little rain yesterday break today. morris coming tomorrow. coast letting us know what's happened. i think you just said the weather. do you need me? >> we actually do still have some showers out there right now. but yes, more will be ex
the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when the exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by ms appropriating the money to cover his expenses, which included purchasing luxury properties in the caribbean. the judge did say he would advise the federal bureau of prisons to sent him to a medium security...
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Mar 29, 2024
03/24
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. >>> plus, ftx founder sam bankman fried will spend the next two decades behind bars. we'll talk about what his sentencing could mean for the future of the crypto industry. we'll be back with business news next. industry. we'll be back with business news next [coughing] copd hasn't been pretty. it's tough to breathe and tough to keep wondering if this is as good as it gets. but trelegy has shown me that there's still beauty and breath to be had. because with three medicines in one inhaler, trelegy keeps my airways open and prevents future flare-ups. and with one dose a day, trelegy improves lung function so i can breathe more freely all day and night. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. ♪ what a wonderful
. >>> plus, ftx founder sam bankman fried will spend the next two decades behind bars. we'll talk about what his sentencing could mean for the future of the crypto industry. we'll be back with business news next. industry. we'll be back with business news next [coughing] copd hasn't been pretty. it's tough to breathe and tough to keep wondering if this is as good as it gets. but trelegy has shown me that there's still beauty and breath to be had. because with three medicines in one...
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Mar 26, 2024
03/24
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back down to around that $17-18,000 the prior cycle high, just the ftx, just the ftx scandal saw the price fall below it. it quickly recovered. so this cycle would put us at a triple, if those coincide with what is called the halving event with bitcoin miners. the rewards are cut in half. that in addition to a trillion dollars of new debt every hundred days created by the government. stuart: we shall see. thank, mike. the market is open. fox corporation rang the bell on the nasdaq. we've opened with more than half of the dow stocks, the dow 30, on the upside, and the dow itself is up about 50 points. move on to the s&p 500, also slightly higher, up about a quarter percent, 5230, is the level. and the nasdaq composite also opening higher this morning, a gain of almost .4%, 16,448. better have a look at big peck tech. where are they -- big tech. meta, microsoft, alphabet, amazon on the up upside, but apple is down. just holding on to the 170 level at this moment. truth social has official hi started trading -- officially started trading. i'm looking at a gain of 57%. tell me more, plea
back down to around that $17-18,000 the prior cycle high, just the ftx, just the ftx scandal saw the price fall below it. it quickly recovered. so this cycle would put us at a triple, if those coincide with what is called the halving event with bitcoin miners. the rewards are cut in half. that in addition to a trillion dollars of new debt every hundred days created by the government. stuart: we shall see. thank, mike. the market is open. fox corporation rang the bell on the nasdaq. we've opened...
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Mar 29, 2024
03/24
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just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to only do good. but the judge wasn't having any of it during sentencing, saying, quote, he knew it was wrong. he knew it was criminal. bankman-fried's parents issued a short statement following that decision, saying, we are heartbroken and will continue to fight for our son, even if victims in this case get their money back. many who invested in cryptocurrencies at the time of ftx's collapse have lost out on a considerable amount of income, experts say many of those currencies would be worth much more today. bitcoin's value, for example, has increased more than 300% since late 2022. back to you at the
just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to only...